15 Best S&P 500 Stocks to Buy Right Now

11. Eli Lilly and Company (NYSE:LLY

Number of Hedge Fund Holders: 137

Eli Lilly and Company (NYSE:LLY) discovers, develops, manufactures, and markets human pharmaceutical products in the United States, Europe, China, Japan, and internationally.

On April 2, BofA analyst Jason Gerberry slightly bumped the firm’s price target on Eli Lilly and Company (NYSE:LLY) from $1,293 to $1,294, while maintaining a ‘Buy’ rating on the shares. The revised target indicates an upside potential of over 38% from the current share price.

The development comes after the FDA approved Fundayo, Lilly’s obesity medicine, marking a major milestone for the drugmaker. The approval came on April 2, slightly ahead of the firm’s assumption. As a result, BofA fine-tuned its near-term estimates for Eli Lilly and Company (NYSE:LLY), reflecting launch pricing and the anticipated early dose-mix.

Eli Lilly and Company (NYSE:LLY) revealed that Fundayo will already start shipping from direct-to-consumer platform LillyDirect starting next week, and will be available at pharmacies and on telehealth platforms ‘shortly after.’ According to FacSet, the drug is estimated to achieve $14.79 billion in sales by 2030.