10 Best Growth Stocks to Buy According to Analysts

3. Eli Lilly and Company (NYSE:LLY)

Upside Potential: 30.82%

TTM EPS Growth: 88.31%

Forward EPS Growth: 68.7%

Number of hedge fund holders: 119

Eli Lilly and Company (NYSE:LLY) is one of the best growth stocks to buy according to analysts. On August 14, Eli Lilly and Company (NYSE:LLY) said that it would increase the list price of its diabetes and weight-loss drug Mounjaro in the UK, effective from September 1. The company is increasing the prices from the current range of roughly £92-£122 to £133-£330, a hike of up to 170%, according to a report by CNBC.

This strategy aims to lower U.S. drug prices relative to those in countries where medicines are typically cheaper, such as the United Kingdom. By raising prices overseas, drugmakers like Eli Lilly may be attempting to mitigate pricing pressure at home. As of the end of 2024, Europe made up about 14% of the company’s total revenue. The company does not disclose its sales from the UK alone.

Eli Lilly’s stocks jumped by 2.68% on August 15, following the news. The market viewed the bold, albeit controversial move positively, as the company will be protecting the margin on a product with relatively non-elastic demand. However, the hike is not without risks. Novo Nordisk, which is a key rival in the GLP-1 drug space, is expected to hold its UK pricing steady. That could pull price-sensitive customers away from Mounjaro, which could cause a shakeup in the market share in the high-growth therapeutic category.