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​Eli Lilly and Company (NYSE:LLY) is one of the Best Stocks to Buy While the Market Is Down.

​On April 20, Reuters reported that Eli Lilly and Company (NYSE:LLY) is buying Kelonia Therapeutics in a deal valued at up to $7 billion. The deal is aimed at expanding the company’s oncology offerings and also diversifying the company beyond its dominant weight-loss drugs amid rising competition.

​According to the report, the deal is expected to close in the second half of 2026, and Lilly is expected to pay $3.25 billion upfront in cash, with up to $3.75 billion more in milestone payments tied to clinical, regulatory, and commercial successes.

​Kelonia Therapeutics is developing vivo CAR-T therapies using iGPS particles to engineer patients’ T-cells directly inside the body, skipping ex vivo modification, apheresis, and lymphodepleting chemo. Their lead candidate is KLN-1010, which targets BCMA in relapsed or refractory multiple myeloma and is in Phase 1 trials. Reuters noted that Eli Lilly and Company (NYSE:LLY) aims to bolster its oncology portfolio; the oncology market is expected to hit $409 billion by 2028.

​Overall, the Street is bullish on Eli Lilly and Company (NYSE:LLY) as 83% of the 35 analysts covering the stock maintain a Buy rating on the stock. Moreover, the 12-month average price target suggests more than 38% upside from the current level.

​Eli Lilly and Company (NYSE:LLY) develops and markets pharmaceutical products globally.

While we acknowledge the potential of LLY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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