Big pharma Eli Lilly (LLY) guided 2016 below Wall Street’s expectations Tuesday, but the stock rose after falling along with the big market plunge on Monday. Lilly said it expects revenue of $20.2 billion to $20.7 billion, up a fraction from last year’s estimated sales but below analysts’ consensus of $21.36 billion, according to Thomson Reuters. Earnings excluding one-time items were guided at $3.45 to $3.55 a share, also missing the Street’s
Big pharmas Merck (MRK), Eli Lilly (LLY) and Johnson & Johnson (JNJ) were trading up Tuesday after getting upgrades from Barclays, while AbbVie (ABBV) seesawed on a downgrade. Analyst Geoff Meacham assumed coverage of a newly combined U.S. Pharmaceuticals sector in Barclays’ coverage, and while he left most ratings the same he made a few tweaks. Lilly was upgraded to overweight from equal weight, and its price target lifted to 95 from 75, based on
Big pharma Eli Lilly (LLY) beat Q3 earnings expectations and raised EPS guidance Thursday, though revenue was more of a mixed bag as the firm continues to struggle with foreign exchange headwinds. Lilly made 89 cents a share excluding one-time items, up 22% from the year-earlier quarter and beating analysts’ consensus by 15 cents, according to Thomson Reuters. Revenue increased 2% to $4.96 billion, beating consensus by about $60 million. Lilly