Jim Cramer’s 5 Latest Stock Picks

2. Eli Lilly Co (NYSE:LLY)

Number of Hedge Fund Investors: 102

Jim Cramer has been highly bullish on Eli Lilly Co (NYSE:LLY) over the past several months. Recently, Cramer said Eli Lilly Co (NYSE:LLY) stock’s performance was weak after Eli Lilly Co (NYSE:LLY) posted a strong quarter. Cramer attributed this stock performance to what he called “authentic stupidity.” Cramer said that Eli Lilly Co’s (NYSE:LLY) therapy tirzepatide recently showed promising results against nonalcoholic steatohepatitis (NASH). Cramer said this could be a potential treatment for 15 million more people in the US alone.

Baron Health Care Fund stated the following regarding Eli Lilly and Company (NYSE:LLY) in its fourth quarter 2023 investor letter:

“Stock selection was also positive in the sub-industry owing to strong gains from therapeutics-focused pharmaceutical giant Eli Lilly and Company (NYSE:LLY). Lilly’s stock continued to outperform driven by strong sales of blockbuster diabetes medicine Mounjaro and ongoing enthusiasm surrounding the company’s obesity and diabetes franchises, particularly after Novo Nordisk released its SELECT trial results showing a 20% relative risk reduction in overweight patients with cardiovascular disease and no prior history of diabetes.

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures, and sells medicines in the categories of diabetes, oncology, neuroscience, and immunology, among other areas. Stock performance was strong due to strong third quarter sales of blockbuster diabetes medicine Mounjaro and ongoing enthusiasm surrounding the company’s obesity and diabetes franchises. We continue to think Lilly is well positioned to grow revenue and earnings at attractive rates through the end of the decade and beyond.

We own Eli Lilly and Company, which we believe will remain a leader in the GLP-1 medicine class with Mounjaro, Zepbound, and the company’s deep pipeline of next generation GLP-1 medicines.”