Elanco Animal Health Inc (ELAN) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

With 4.86 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.2 million shares. The 52-week range on ELAN shows that it touched its highest point at $16.88 and its lowest point at $7.88 during that stretch. It currently has a 1-year price target of $16.80. Beta for the stock currently stands at 1.30.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ELAN was down-trending over the past week, with a drop of -1.61%, but this was up by 5.09% over a month. Three-month performance surged to 32.53% while six-month performance rose 25.91%. The stock gained 38.54% in the past year, while it has gained 6.64% so far this year. A look at the trailing 12-month EPS for ELAN yields -2.50 with Next year EPS estimates of 1.06. For the next quarter, that number is 0.28. This implies an EPS growth rate of 2.90% for this year and 15.42% for next year.

Float and Shares Shorts:

At present, 492.85 million ELAN shares are outstanding with a float of 488.61 million shares on hand for trading. On Feb 15, 2024, short shares totaled 11.97 million, which was 2.43% higher than short shares on Jan 12, 2024. In addition to ELAN as the firm’s Elanco Animal Health Incorporat, ELDN serves as its Eledon Pharmaceuticals, Inc.

Institutional Ownership:

Through their ownership of 99.36% of ELAN’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ELAN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ELAN analysts setting a high price target of $20.00 and a low target of $12.00, the average target price over the next 12 months is $16.80. Based on these targets, ELAN could surge 25.87% to reach the target high and fall by -24.48% to reach the target low. Reaching the average price target will result in a growth of 5.73% from current levels.

Summary of Insider Activity:

Insiders traded ELAN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 979,041 while 399,837 shares were sold.