5 Best Diabetes Stocks to Buy Now

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1. Eli Lilly & Co. (NYSE:LLY)

Hedge Fund Holdings: 102 

Headquartered in Indianapolis, Indiana, Eli Lilly & Co. (NYSE:LLY) is an American pharmaceutical company, with an office presence in more than 18 countries globally. The company primary revenue driver are the diabetes drugs Humalog and Trulicity. On November 20, Cantor Fitzgerald analyst Louise Chen maintained an Overweight rating on the stock, and reiterated the price target of $630. According to the analyst, Eli Lilly & Co. (NYSE:LLY) has one of the highest market caps in the pharmaceutical space. Although the stock is significantly priced, the company’s average 5-year forward growth of 17% is a good justification for its current valuation. Furthermore, the company’s anti-obesity drug Zepbound received approval in the US and recommended approval in the EU, and is projected to deliver $150 billion in revenue by 2030. This is expected to result in substantial additional wealth creation for interested shareholders. Investor interest around Eli Lilly & Co. (NYSE:LLY) has peaked in Q3 2023, with 102 funds long the stock, up from 87 funds in the preceding quarter.

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