Analyst Erin Wright from Morgan Stanley maintained a Hold rating on Elanco Animal Health (ELAN – Research Report) and keeping the price target at $10.00.
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Erin Wright’s rating is based on a combination of factors including Elanco Animal Health’s recent innovations and future pipeline prospects. The company has launched new companion products like Zenrelia and Credelio Quattro, which are expected to contribute significantly to its growth. However, the competitive landscape, particularly with products like MRK’s upcoming NUMELVI and ZTS’ Apoquel, poses challenges that may impact market share and adoption rates.
Additionally, Elanco’s long-term pipeline shows potential with targets set for 2025, including the anticipated USDA approval for its IL-31 SA Antibody. While these developments are promising, the overall outlook remains cautious due to the uncertainties in achieving the projected innovation revenue targets and the need for further approvals and launches. These factors collectively contribute to the Hold rating, reflecting a balanced view of potential growth against existing risks.
In another report released on June 13, William Blair also maintained a Hold rating on the stock with a $0.00 price target.