10 Best GLP-1 and Weight Loss Stocks to Buy Now

7. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Investors: 46

One of the top biopharmaceutical companies in the world, AstraZeneca PLC (NASDAQ:AZN) is renowned for its solid cancer therapy pipeline and its good growth profile. AstraZeneca intends to generate more than $80 billion in revenue by 2030 by proactively entering the markets for cardiometabolic treatments and weight reduction. AZN is one of the best GLP-1 and weight loss stocks to buy now.

Three initiatives, including ECC5004, are part of AstraZeneca’s obesity medication pipeline and are now undergoing Phase 1 clinical studies. This preliminary breakthrough demonstrates the company’s determination to establish itself as a major force in the market for obesity treatment.

AstraZeneca PLC (NASDAQ:AZN) has an average price target of $87.25 which implies a potential upside of nearly 10% from current levels. AstraZeneca PLC (NASDAQ:AZN) was owned by 46 of the 920 hedge funds that Insider Monkey examined in the first quarter of 2024. Ken Fisher’s Fisher Asset Management held the largest stake in the company worth $654.02 million.

AstraZeneca promised in late May to pay Swiss Biotech, SixPeaks Bio up to $80 million in milestone payments and royalties in exchange for the right to purchase their obesity candidate, which is presently undergoing pre-clinical testing. Compared to treatments from two main market leaders, SixPeaks’ strategy could cause less muscle mass loss, which might be a big benefit in the fight against obesity. As of right now, the advantages remain unproven, and the company has not made any data from its clinical-stage projects publicly available.

AstraZeneca’s primary focus is to invest in the weight-loss and cardiometabolic medicine fields in order to deliver novel treatments by 2030. It is anticipated that the company will progress its ongoing initiatives over the course of the upcoming year and possibly buy more assets to bolster its pipeline.

AstraZeneca PLC (NASDAQ:AZN) is a reliable grower. Over the past decade, the company’s revenue has grown at a compound annual growth rate of 6.4% and its net income has grown even more impressively at a CAGR of 12.28%.

AstraZeneca is in a strong position to benefit from its creative medicinal discoveries and calculated investments in the market for obesity treatment. The possible competition from other GLP-1 agonist medications could cause some investors to exercise caution. Nonetheless, AstraZeneca’s robust financial results, audacious expansion strategies, and exciting pipeline, which includes its obesity medication initiatives, provide a good foundation for it to grow. The company is well-positioned for success in the expanding market for obesity treatments because of its innovative strategies and strategic focus.