ARMO Biosciences Inc Shares Skyrocket on $1.6 B Eli Lilly Deal

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Quantitative Systematic Strategies LLC's holdings in Eli Lilly and were worth $1,420,000 at the end of the most recent reporting period.

ARMO has been the topic of a number of other research reports. (NASDAQ:ARMO) news posted briefly go to: Fool.com, Nasdaq.com, Benzinga.com, Benzinga.com or Prnewswire.com. 260,859 shares of the stock traded hands, compared to its average volume of 312,044.

Its EPS was $2.89 while outstanding shares of the company were 1.09B. Janus Henderson Group PLC boosted its position in Eli Lilly and by 16.1% in the third quarter.

Eli Lilly plans to begin a tender offer for all the shares of Armo BioSciences, which Lilly describes as "a late-stage immuno-oncology company that is developing a pipeline of novel, proprietary product candidates created to activate the immune system of cancer patients to recognize and eradicate tumors". The latest exchange of 0.46 Million shares is below its average trading activity of 653.43 Million shares. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of Eli Lilly and in the 3rd quarter valued at $147,000. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.

The company during the last trade was able to reach a volume of 2.46 million shares. Eli Lilly and Company has a one year low of $78.45 and a one year high of $79.65. 0 analysts call it Underweight, while 1 think it is Overweight. The PEG ratio is used to determine a stock's value while taking the company's earnings growth into account, and is considered to provide a more complete picture than the P/E ratio.

Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, April 24th. The company reported $1.34 EPS for the quarter, topping the Zacks' consensus estimate of $1.13 by $0.21. Eli Lilly and had a negative net margin of 0.89% and a positive return on equity of 33.01%. The business had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.51 billion. Also, a -0.23% overturn in Eli Lilly and Company (LLY) witnessed over the past one year demand tendency to limit losses. Stockholders of record on Thursday, May 17th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, May 16th.

Lilly's offer of $50 per share in cash represents a premium of 68 percent to Armo's Wednesday close. Amundi Pioneer Asset Management Inc. now owns 1,832,626 shares of the company's stock valued at $154,783,000 after acquiring an additional 963,776 shares during the last quarter. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald A. Zakrowski sold 860 shares of the stock in a transaction on Thursday, March 1st. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.

A number of equities analysts have recently issued reports on the stock. At the moment, the stock is trading for about -9.24% less than its 52-week high. Argus raised shares of Eli Lilly and from a hold rating to a buy rating and increased their price target for the stock from $85.52 to $115.00 in a report on Friday, January 5th. During the same quarter last year, the company posted $0.98 earnings per share. research analysts expect that Eli Lilly and Company will post 5.16 earnings per share for the current fiscal year. Jefferies Group set a $93.00 price target on shares of Eli Lilly and and gave the company a "buy" rating in a research note on Monday, February 26th. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time.

Eli Lilly and Company discovers, develops, makes, and markets pharmaceutical products worldwide. It operates through two divisions, Human Pharmaceutical Products and Animal Health Products.

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