Health Care

Eli Lilly to buy biotech Armo Biosciences for $1.6bn

Eli Lilly to buy biotech Armo Biosciences for $1.6bn

Schroder Investment Management Group now owns 2,300,675 shares of the company's stock valued at $194,315,000 after purchasing an additional 1,031,859 shares during the period.

ARMO BioSciences is an immuno-oncology firm that engages in the development of novel product candidates, which are aimed at activating the immune systems of cancer patients to identify and eliminate tumors.

Armo also has several other drugs in development, including the anti-PD-1 checkpoint inhibitor AM-0001, which it has planned to eventually test with pegilodecakin; AM-0015, a preclinical recombinant human IL-15 cytokine that has demonstrated preclinical antitumor responses that are additive with AM-0010; and AM-0012, a recombinant human IL-12 cytokine now in preclinical studies. About 5.31M shares traded or 2058.55% up from the average. More interesting news about Eli Lilly and Company (NYSE:LLY) were released by: Benzinga.com and their article: "Upcoming Earnings: CAT, LLY And BA Report This Week" published on April 23, 2018 as well as 247Wallst.com's news article titled: "Short Sellers Run for Cover From Major Pharma" with publication date: May 10, 2018. Wealthcare Advisory Partners LLC bought a new position in shares of Eli Lilly and during the third quarter worth $142,000.

This morning Lilly $LLY announced that it has acquired Armo BioSciences $ARMO for $1.6 billion in cash - just a few months after their successful IPO debut on Nasdaq. 124,664 shares of the company traded hands, compared to its average volume of 4,323,191.

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Eli Lilly's BD team is on the march, and as promised they're staying carefully focused on oncology. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.41. The organization posted $1.34 earnings per share (EPS) for the three-month period, missing the Thomson Reuters' analyst consensus estimate of $1.13 by $0.21- amounting to a surprise factor of 18.27%. A stock with a beta more than 1 means high volatile and less than 1 means low volatile. Eli Lilly and had a net margin of 4.82% and a return on equity of 35.37%. After $-9.62 actual EPS reported by ARMO BioSciences, Inc. for the previous quarter, Wall Street now forecasts -95.01 % EPS growth. Stockholders of record on Thursday, May 17th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, May 16th.

Eli Lilly and Company a US based Company, belongs to Healthcare sector and Drug Manufacturers - Major industry.

In other news, insider Donald A. Zakrowski sold 876 shares of the stock in a transaction on Wednesday, February 21st. Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The shares were sold at an average price of $81.12, for a total transaction of $780,780.00. The disclosure for this sale can be found here. Insiders own 0.11% of the company's stock.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. As Eli Lilly and Company has a P/S, P/E and P/B values of 3.71, 27.47 and 5.72 respectively. ARMO BioSciences has $75.0 highest and $5000 lowest target. Eli Lilly and Company had 102 analyst reports since July 23, 2015 according to SRatingsIntel. Finally, Robert W. Baird assumed coverage on shares of ARMO BioSciences in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Jefferies Group set a $90.00 price target on shares of Eli Lilly and and gave the stock a "buy" rating in a report on Friday, April 13th. The company operates through two segments, Human Pharmaceutical Products and Animal Health Products.