Goldman Sachs AI Stocks: 10 Stocks to Buy

8. Eli Lilly and Company (NYSE:LLY)

Percentage of Portfolio Holding: 0.58%

Portfolio Holding Value: $4.29 Billion

Number of Hedge Fund Holders: 119

Eli Lilly and Company (NYSE:LLY) is one of the best AI stocks to buy according to Goldman Sachs. On September 18, Wells Fargo reiterated a Buy rating on Eli Lilly and Company (NYSE:LLY) stock, maintaining the price target at $1,100.

Mohit Bansal from Wells Fargo reaffirmed his rating on LLY following the company’s announcement to invest $5 billion in a Virginia plant for cancer drugs. On September 16, Eli Lilly announced that it plans to build a $5 billion manufacturing facility, the company’s first dedicated, fully integrated active pharmaceutical independent and drug product facility for its emerging bioconjugate and monoclonal antibody portfolio. The Virginia facility is part of the company’s $50 billion in U.S. capital expansion commitments since 2020. Through this facility, Eli Lilly will boost its domestic manufacturing of antibody-drug conjugates (ADCs).

The company expects the facility to be completed within the next five years. The manufacturing site is expected to create nearly 650 new high-paying jobs in Virginia, while bringing 1,800 construction jobs to the region and boosting the local economy. Bansal also remains positive about the company’s potential for its therapies.

On September 17, the company reported that Mounjaro, Eli’s GIP/HLP-1 dual receptor agonist, in children and adolescents with type 2 diabetes showed positive results during the first phase 3 trial. The trial met the primary and all key secondary endpoints at week 30, achieving notable improvements in A1C and BMI compared to placebo.

Eli Lilly and Company (NYSE:LLY) is a medicine company that is engaged in the discovery, development, manufacturing, and marketing of products in the human pharmaceutical products segment. Eli Lilly’s recently introduced TuneLab consists of AI models and proprietary data obtained at a cost of over $1 billion. The company has invested in AI to provide biotech companies with the required models to offer research data to accelerate drug development.