Jim Cramer’s Latest Predictions and 5 Stock Recommendations

4. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 53   

Eli Lilly and Company (NYSE:LLY) develops and markets human pharmaceuticals. On June 15, Cramer said in response to a viewer question about drug firm Prothena that the Investing Club of CNBC, which he leads, is recommending and owns Eli Lilly stock. Cramer has backed drug giants to outperform the wider market even in a recession environment. 

On July 8, Morgan Stanley analyst Terence Flynn maintained an Overweight rating on Eli Lilly and Company (NYSE:LLY) stock and raised the price target to $395 from $369, noting that biopharma revenues would remain “resilient” even if the economy slows down. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Eli Lilly and Company (NYSE:LLY), with 1.6 million shares worth more than $485 million.  

In its Q1 2022 investor letter, Baron Funds highlighted a few stocks and Eli Lilly and Company (NYSE:LLY) was one of them. Here is what the fund said:

“Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company with a diverse offering primarily focused on therapeutics. Performance was strong mostly due to consistent financial growth powered by its core diabetes (and future obesity) franchise, as well as the constant drumbeat surrounding the Alzheimer’s therapeutic market, of which Eli Lilly and Company (NYSE:LLY) has one of the three potential winning blockbuster candidates in Donanemab. We retain conviction in Eli Lilly given the company’s strong long-term growth outlook.”