Barclays Reaffirms Their Buy Rating on Elanco Animal Health (ELAN)

By Ryan Adsit

In a report released yesterday, Balaji Prasad from Barclays maintained a Buy rating on Elanco Animal Health (ELANResearch Report), with a price target of $25.00. The company’s shares closed last Tuesday at $19.98.

According to TipRanks.com, Prasad is a 2-star analyst with an average return of -1.2% and a 38.8% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries, Bausch Health Companies, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Elanco Animal Health is a Strong Buy with an average price target of $25.00, implying a 20.5% upside from current levels. In a report issued on May 8, Merrill Lynch also maintained a Buy rating on the stock with a $26.00 price target.

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The company has a one-year high of $35.46 and a one-year low of $15.17. Currently, Elanco Animal Health has an average volume of 5.37M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELAN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Elanco Animal Health, Inc. engages in the innovation, development, manufacture and market products for companion and food animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine. The Companion Animal Disease Prevention category engages in the broadest parasiticide portfolios in the companion animal sector based on indications, species and formulations, with products that protect pets from worms, fleas and ticks. The Companion Animal Therapeutics category provides the details of broad pain and osteoarthritis portfolio across species, modes of action, indications and disease stages. The Food Animal Future Protein & Health category includes vaccines, nutritional enzymes and animal-only antibiotics, serves the growing demand for protein and includes innovative products in poultry and aquaculture production, where demand for animal health products is outpacing overall industry growth. It also focuses on developing functional nutritional health products that promote food animal health, including enzymes, probiotics and prebiotics. The Food Animal Ruminants & Swine category develops animal food products used in ruminant and swine production. The company was founded on May 3, 2018 and is headquartered in Greenfield, IN.