NEW YORK (TheStreet) -- Shares of Eli Lilly (LLY) - Get Report were lower in mid-afternoon trading on Monday ahead of the company's 2016 third quarter earnings, due out before tomorrow's opening bell.

Wall Street is expecting earnings and revenue to increase year-over-year.

Analysts surveyed by FactSet are forecasting that the Indianapolis-based pharmaceutical company will post adjusted earnings of 96 cents per share on revenue of $5.29 billion.

During the same period a year ago, Eli Lilly earned 89 cents per share on revenue of $4.96 billion.

SunTrust has a "buy" rating and $107 price target on the stock ahead of the quarterly report.

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The firm believes Eli Lilly will top third-quarter expectations due to better-than-anticipated Trulicity sales, the Fly reports. Trulicity is the company's Type 2 Diabetes medicine.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and good cash flow from operations. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: LLY

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