Elanco Animal Health Inc's stock rose by 3.04% and reached a 52-week high, reflecting positive market conditions with the Nasdaq-100 up 0.88% and the S&P 500 up 0.62%.
The increase in stock price is attributed to Elanco receiving USDA approval for its new canine dermatology drug, Befrena™, which is expected to launch in the first half of 2026. This approval solidifies Elanco's leadership in the canine dermatology market, particularly as it addresses a significant demand for effective treatments for allergic dermatitis in dogs.
The approval of Befrena not only enhances Elanco's product portfolio but also positions the company strategically within a $1.3 billion market. With a dosing interval of 6 to 8 weeks, Befrena offers a competitive edge over existing treatments, potentially attracting more veterinarians and pet owners seeking effective solutions.
Wall Street analysts forecast ELAN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ELAN is 25.50 USD with a low forecast of 22.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
Wall Street analysts forecast ELAN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ELAN is 25.50 USD with a low forecast of 22.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 24.120
Low
22.00
Averages
25.50
High
30.00
Current: 24.120
Low
22.00
Averages
25.50
High
30.00
UBS
Buy
maintain
$27 -> $30
2026-01-29
New
Reason
UBS
Price Target
$27 -> $30
AI Analysis
2026-01-29
New
maintain
Buy
Reason
UBS raised the firm's price target on Elanco to $30 from $27 and keeps a Buy rating on the shares.
Piper Sandler
Neutral -> Overweight
upgrade
$24 -> $30
2026-01-22
Reason
Piper Sandler
Price Target
$24 -> $30
2026-01-22
upgrade
Neutral -> Overweight
Reason
Piper Sandler upgraded Elanco to Overweight from Neutral with a price target of $30, up from $24.
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Piper Sandler
David Westenberg
Neutral -> Overweight
upgrade
$24 -> $30
2026-01-22
Reason
Piper Sandler
David Westenberg
Price Target
$24 -> $30
2026-01-22
upgrade
Neutral -> Overweight
Reason
Piper Sandler analyst David Westenberg upgraded Elanco to Overweight from Neutral with a price target of $30, up from $24. After attending the VMX conference, Piper believes Elanco "is making some serious inroads" with corporate groups. The corporate channel represents a new driver for Elanco, the analyst tells investors in a research note. Regarding pricing and Befrena, Piper found little push back to the idea that Elanco will raise prices on its core franchise.
Morgan Stanley
Equal Weight
maintain
$18 -> $22
2025-12-18
Reason
Morgan Stanley
Price Target
$18 -> $22
2025-12-18
maintain
Equal Weight
Reason
Morgan Stanley raised the firm's price target on Elanco to $22 from $18 and keeps an Equal Weight rating on the shares. For healthcare technology and providers, the firm sees an "attractive backdrop for alpha-generation opportunities" in 2026, the analyst tells investors. Meanwhile, managed care stocks have underperformed in 2025 and are facing "another year of unprecedented policy, reimbursement, and utilization headwinds," the analyst added in a year-ahead outlook note for the Healthcare Services group.
About ELAN
Elanco Animal Health Incorporated is an animal health company delivering products and services to prevent and treat disease in farm animals and pets. The Company's product portfolio is sold in more than 90 countries and serves animals across many species, primarily dogs and cats (collectively, pet health) and cattle, poultry, swine, and sheep (collectively, farm animal). It has a diverse portfolio of products marketed under approximately 200 brands, including products for both pets and farm animals. The Company's global pet health portfolio is focused on parasiticides, vaccines and therapeutics. Its pet health products include Advantage Family, Atopica, Credelio Family, Drontal Family, Galliprant, Interceptor Plus, Milbemax, Onsior, Seresto, Trifexis, and TruCan. Its farm animal products include AviPro, Baytril, Catosal, Denagard, Experior, Hemicell, Maxiban/Monteban, Pulmotil, Rumensin, and Surmax. Its customers include consultants, veterinarians, farm animal producers and resellers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
