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Eli Lilly and Co. (NYSE:LLY) is one of the best ESG stocks to buy now according to hedge funds. On September 9, Bank of America’s Tim Anderson reiterated a Buy rating on Eli Lilly & Co. (NYSE:LLY) and a $900 price target. The analyst highlighted the company’s strong market position in the obesity drug market as a key driver of future growth.
Anderson made a case for Eli Lilly and Co.’s (NYSE:LLY) portfolio after the recent update from the Institute for Clinical and Economic Review. The institute now believes that GLP-1 therapies, including those developed by Eli Lilly, are cost-effective for treating obesity. This marks a notable change from earlier views and strengthens the case that these therapies deliver meaningful clinical and economic benefits.
By broadening its assessment to include obesity-related outcomes and quality-of-life improvements, the ICER report further supports the value proposition of Eli Lilly and Co.’s (NYSE:LLY) drugs.
Although reimbursement challenges persist, the ICER findings may help expand coverage and payer acceptance over time. Anderson added that Eli Lilly’s strong pipeline, above-peer revenue growth forecasts, and leadership in obesity treatments underpin his positive outlook and continue to justify the Buy rating.
Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company focused on the development, manufacture, and marketing of medicines for diabetes, oncology, immunology, and neuroscience.
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READ NEXT: Best Stocks For Day Trading: 12 Stock Picks and 15 Best Multibagger Stocks to Invest in Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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