12 Stocks That Will Make You Rich in 10 Years

3. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 119

Eli Lilly and Company (NYSE:LLY) is one of the 12 stocks that will make you rich in 10 years. On June 23, Truist Securities reiterated its “Buy” rating on Eli Lilly stock. The firm also maintained the price target of $1,038.00. Truist’s move followed Eli Lilly’s presentation at the American Diabetes Association (ADA) 85th Annual Meeting.

The rating pertains to Eli Lilly’s oral diabetes drug, orforglipron (OFG), evaluated in the Phase 3 ACHIEVE-1 study for Type 2 diabetes treatment. The ACHIEVE-1 study results were presented at the ADA conference, showcasing orforglipron’s efficacy and safety profile. The trial demonstrated statistically significant reductions in A1C (a long-term blood sugar metric) and body weight compared to placebo, with efficacy increasing at higher doses.

Truist’s analysis was informed by attending the orforglipron presentation, gathering feedback from KOLs at the ADA conference, and participating in Eli Lilly’s investor event, where management provided clarity to alleviate safety concerns. The firm noted that longer-term data are required to further strengthen orforglipron’s safety profile, particularly for chronic use in diabetes and potential obesity indications.

Eli Lilly and Company (NYSE:LLY) is an American global biopharmaceutical company. The company discovers, develops, and markets prescription medicines for diabetes, obesity, cancer, immunological disorders, and neurological diseases. Its key products include Mounjaro, Zepbound, Trulicity, Verzenio, Taltz, and Jardiance.