Analysts expect the Indianapolis, Indiana-based company to report quarterly earnings at $5.08 per share, up from $2.49 per share in the year-ago period. Eli Lilly projects quarterly revenue of $13.43 billion, compared to $9.35 billion a year earlier, according to data from Benzinga Pro.

Eli Lilly (LLY) is set to announce Q4 earnings results, with analysts expecting positive growth driven by key drugs and new product launches.

Erste Group analysts upgraded Eli Lilly stock from Hold to Buy, citing a robust product demand and a promising pipeline of potential successes. The analysts highlighted the pharmaceutical company's significant sales growth expected this year along with a positive earnings outlook.