Analyst David Westenberg from Piper Sandler has once again voiced his opinion on Elanco Animal Health, giving it a Neutral rating and bumping up the price target to $18. This adjustment comes as the average 12-month price target for Elanco Animal Health sits at $17.50, indicating a potential upside of 6.38% according to analysts’ predictions. The overall consensus rating for Elanco Animal Health stands at a Moderate Buy, with 5 buy ratings, 0 hold ratings, and 1 sell rating shaping this sentiment. Looking ahead, the highest price target set by an analyst for Elanco Animal Health is $20.00, while the lowest forecast sits at $14.00, both reflecting a 6.38% increase from the current price of $16.45. On this day, March 12, 2024, Elanco Animal Health continues to be a topic of interest among analysts.
ELAN Stock Analysis: March 12, 2024 Movements and Market Insights
On March 12, 2024, ELAN stock showed some interesting movements in the market. ELAN is currently trading near the top of its 52-week range and above its 200-day simple moving average. However, on this particular day, ELAN shares experienced a slight decrease in price. The stock dropped $0.12 since the market last closed, representing a 0.78% decrease in value. ELAN opened at $16.09, which was $0.07 higher than its previous close, suggesting some initial optimism among investors. Fluctuations in stock prices are common and can be influenced by various factors. Investors should monitor ELAN’s performance and stay informed about any developments that may impact the stock’s price. Conduct thorough research and consider your financial goals and risk tolerance before making any decisions in the stock market.
ELAN Corporation Stock Performance Analysis: Revenue Flat, Net Income Declines, EPS Takes a Hit
On March 12, 2024, ELAN Corporation’s stock performance was closely scrutinized by investors and analysts following the release of the company’s financial data. According to CNN Money, ELAN reported a total revenue of $4.42 billion for the past year, which remained flat compared to the previous year. However, the total revenue decreased by 3.09% since the last quarter, signaling a potential slowdown in the company’s growth.
In terms of net income, ELAN reported a significant loss of $1.23 billion for the past year, a staggering decrease of 1478.21% compared to the previous year. However, the net income showed a slight improvement in the last quarter, with a loss of $141.00 million, representing a 0.0% increase from the previous quarter.
The earnings per share (EPS) for ELAN also took a hit, with a reported EPS of -$2.50 for the past year, marking a decrease of 1465.75% compared to the previous year. The EPS showed no change in the last quarter, remaining at -$0.29.
Overall, ELAN’s financial performance on March 12, 2024, raised concerns among investors about the company’s profitability and growth prospects. Investors will be closely monitoring the company’s strategic decisions and financial performance in the coming quarters to assess its ability to overcome these challenges and drive sustainable growth.
