5 Most Promising Low-Cost Stocks According to Analysts

3. Elanco Animal Health Incorporated (NYSE:ELAN)

Number of Hedge Fund Holders: 42

One-Year Price Target: $17.00

Animal health products company Elanco Animal Health Incorporated (NYSE:ELAN) is one of the promising low-cost stocks according to analysts. The Indiana-based company in December received an approval from the FDA for its Bexacat tablets for diabetes mellitus in cats. The product will be indicated to improve glycemic control “in otherwise healthy cats with diabetes mellitus not previously treated with insulin,” according to the FDA.

For the third quarter, Elanco Animal Health Incorporated (NYSE:ELAN) reported an adjusted EPS of $0.20, which beat estimates by $0.04. Revenue in the quarter fell 8.8% on a YoY basis but met analysts’ estimates. For the full-year 2022, Elanco Animal Health Incorporated (NYSE:ELAN) said it expects revenue to come between $4.385 billion to $4.43 billion, versus the consensus of $4.49 billion.