In this piece, we will take a look at the ten best Guru stocks to buy now.
Due to the plethora of investment options such as equities, bonds, and mutual funds that are available today, picking the right set of vehicles to either preserve or grow money can often seem to be a daunting task. This makes it unsurprising that one of the most well known quotes of Warren Buffett of Berkshire Hathaway is one where he states “In my view, for most people, the best thing to do is own the S&P 500 index fund.” In fact, Buffett is one of the strongest detractors of picking individual stocks. Further elaborating on this approach, he shares that the “trick is not to pick the right company, the trick is to essentially buy all the big companies through the S&P 500 and to do it consistently and to do it in a very, very low cost way.” This is key, according to the famous investor, since “you do not want to ever get the impression that you can pick stocks.”
However, while stock picking might not be for the everyday investor, for hedge funds, it’s their way of living. Every day hundreds of funds buy and sell shares with the hopes of generating a profit and spotting the next Apple. This approach tends to yield results too, even during tough economic and stock market performance. In fact, last year which saw the stock market bifurcated primarily on the basis of AI and non AI and large and non large cap stocks when it came to returns, nevertheless also saw hedge funds triple their gains for investors.
As per data from LCH Investments, the top 20 best performing hedge funds generated $67 billion in profits for investors in 2023, which surpassed their $63 in profits in 2021 when the stock market was booming after the pandemic. Their true gains however came over the 2022 profits, when high rates universally decimated the market as back then, the top performers had raked in $22.4 billion. Roughly 20% of the bumper $67 figure came from TCI Investments as it raked in $12.9 billion during 2023.
Safe to say, the hedge funds seem to know what they’re doing. This then makes us wonder if there is a way one could combine Buffett’s advice of sticking to a collection of stocks and the top stocks of the hedge funds. Fortunately, there is one such way to do so. This is through the GURU exchange traded fund. This fund, which has produced 16.96% in fund net asset value average annualized gains over the past year, seeks to enable “everyday investors to access the high conviction investments of some of the largest, most sophisticated hedge funds in the world.”
In terms of price, this fund was trading at $40.34 at the start of 2024, meaning that its recent closing price of $46.52 has led to an appreciation of 15.22%. This closely mirrors the benchmark SEC index, which has gained 18.80% year to date. Over the past twelve months, the ETF has gained 24.10% while the S&P is up by 26.52%. This rudimentary analysis ignores the impact of payouts on the fund’s returns, and the ETF has a semi annual payout rate along with an expense ratio of 0.75%.
More than a quarter of its holdings are in the pharmaceutical, biotechnology, and software industries. These are among the highest growth sectors that you are likely to find on Wall Street. As an example, while the benchmark S&P’s forward P/E ratio was 22 in February 2024, the forward ratio for system and application software firms right now is 56.93 while for the biotechnology sector, it is 73.20. This underscores the growth focused nature of the hedge fund industry and the ETF and indicates that perhaps they are positioning themselves for future economic conditions.
These economic conditions see investors widely expecting interest rates to come down. The current sentiment wave started in August when Federal Reserve Chairman Jerome Powell shared at the Jackson Hole conference that “The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks. ” This means that firms that require copious capital for growth, such as biotechnology stocks, or those that rely on hefty enterprise spending such as cloud computing and software as a service (SaaS) stocks, can see tailwinds in the future.
This changed sentiment is also reflected in the price of the Guru ETF. In early August when investors were still jittery for rate cuts, the fund’s price had dipped to $41.29 close to the end of the first week. Now, with the debate on Wall Street having shifted to the intensity of the cuts rather than the certainty, the recent price of $46.52 marks a heft 12.7% share price appreciation. This also saw the cloud and pharma stocks jump in the immediate aftermath of the rate cuts but close lower as investors digested the data set.
So, with these details in mind, let’s take a look at what the gurus are doing by checking out the best guru stocks to buy.
Close-up of a scientist in a lab conducting tests on a humanized immunoglobulin G1.
Our Methodology
To make our list of the best guru stocks to buy, we ranked the holdings of the Guru ETF by their average analyst share price upside percentage and picked out the stocks with the highest upside.
For these stocks, we also mentioned the number of hedge fund investors based on Insider Monkey’s research. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
10. Delta Air Lines, Inc. (NYSE:DAL)
Number of Hedge Fund Holders In Q2 2024: 51
Average Analyst Share Price Target: $60.30
Average Analyst Share Price Target Upside: 29%
Delta Air Lines, Inc. (NYSE:DAL) is an American airline headquartered in Atlanta, Georgia. Its largest revenue earning division is the Main Cabin division which accounts for 45% of its revenue. Delta Air Lines, Inc. (NYSE:DAL)’s hypothesis depends on its revenue per available seat line, the state of the oil industry, and industry capacity. The airline industry is currently dealing with capacity problems because of a slowdown in Boeing’s production. The extent of this disruption is clear by the fact that the production problems made Morningstar share that the airline industry could see flat growth. This has also created headwinds for Delta Air Lines, Inc. (NYSE:DAL), as lower capacity means airlines take a hit on their margins due to lower seat volume. However, the airline holds one of the highest market share in the domestic US, which is 17.8% according to the Transportation Department. This could help it maintain customer volume as the industry adjusts itself to reduced airplane supply.
Oakmark Funds mentioned Delta Air Lines, Inc. (NYSE:DAL) in its Q1 2024 investor letter. Here is what the fund said:
“Delta Air Lines is a leading global airline. Of the big three U.S.-based airlines (Delta, United and American), we see Delta as the most competitively advantaged. We believe the company’s years of industry-leading operational performance and investments in the customer experience have established Delta as the premium brand in the industry. We also think its geographically optimal hubs, high local market share, robust loyalty program and unique corporate culture all support healthy returns on capital. Delta currently trades at 6x our estimate of normalized earnings per share. We believe this is an attractive valuation for a competitively advantaged and growing business in an out-of- favor industry.”
9. Chesapeake Energy Corporation (NASDAQ:CHK)
Number of Hedge Fund Holders In Q2 2024: 42
Average Analyst Share Price Target: $96.79
Average Analyst Share Price Target Upside: 32%
Chesapeake Energy Corporation (NASDAQ:CHK) is an American oil and gas company headquartered in Oklahoma City, Oklahoma. The firm is currently hoping for regulatory approval of its decision to merge with Southwestern Energy. This merger carries the chance of significant tailwinds for Chesapeake Energy Corporation (NASDAQ:CHK), particularly in today’s environment where natural gas prices are low. This is because if it goes through then the firm will become the largest gas producer by market share in the US through a combined production of 7.1 billion cubic feet per day and lending it cost advantages in a sector responsible for generating most of America’s electricity. On the flip side, any delays could translate into headwinds. Apart from the merger, Chesapeake Energy Corporation (NASDAQ:CHK) has been managing its production capacity in response to gas prices slumping this year. It has deferred a portion of new wells to the end of this year, but at the same time is also increasing well lateral length to increase production efficiencies.
During the Q2 2024 earnings call, Chesapeake Energy Corporation (NASDAQ:CHK)’s management shared how the drilling strategies are benefiting production:
“First, reducing costs and improving breakevens. We have recognized a 50% improvement in Marcellus drilling performance since 2022. We have achieved this by steadily increasing our feet drilled per day over the last two years by approximately 50% as well as by growing the average lateral length of our wells by the nearly 3,000 feet in the second quarter.
The increase in drilling pace, lateral length and deflation, all combined to recognize a 20% decrease in drilling costs over the last two years. In the Haynesville, efforts to lower production expense continue to pay dividends, as evidenced by a 25% decrease in saltwater disposal cost per barrel since the third quarter of last year. This improvement is due to the team optimizing routes, increasing utilization of owned assets, strategic partnerships with vendors and deflation. Combined, these operational improvements allowed us to lower our full year capital and production expense guidance by $50 million and approximately 8%, respectively. Lowering breakeven cost is critical to delivering sustainable value to our shareholders and ensuring the market remains well supplied with affordable natural gas.
We expect the majority of savings recognized will be durable through cycles, which will only continue to improve the strength and competitiveness of our Marcellus and Haynesville positions. Second, maintaining production flexibility to match market conditions. Through the first half of the year, we have deferred 46 TILs and built 29 DUCs. By year-end, we expect to have up to 1 Bcf a day of productive capacity available to meet demand when conditions warrant. In addition to the deferral of TILs and completions, we proactively curtailed volumes during the weaker spring shoulder pricing months and are prepared to do so again as necessary in the fall. We will be disciplined in activating the deferred capacity with market conditions dictating the pace and timing of our approach.
We are confident this strategy will provide a distinct competitive advantage when natural gas demand recovers, given the inherent flexibility it provides and the speed and limited capital needed to bring volumes to market.”
8. Albertsons Companies, Inc. (NYSE:ACI)
Number of Hedge Fund Holders In Q2 2024: 59
Average Analyst Share Price Target: $24.48
Average Analyst Share Price Target Upside: 32%
Albertsons Companies, Inc. (NYSE:ACI) is an American grocery and pharmacy store operator that operates under a variety of different brands. Consequently, its performance depends to a large extent on margins as the grocery business is known for its notoriously tight margins. For Albertsons Companies, Inc. (NYSE:ACI), a firm with a lighter presence in the eCommerce market, this means that the firm has to tightly control its costs to ensure that it has sufficient capital on hand to invest in growth and in eCommerce and associated areas. However, the firm benefits from its pharmacy operations, which have recently seen a 1.4% increase in Identical Sales (ID) because of the consumer rush towards weight loss drugs. This led Albertsons Companies, Inc. (NYSE:ACI) to experience a 14% surge in its pharmacy sales during fiscal Q1, and in more good news, the firm’s digital sales jumped by 23% to justify the belt tightening needed to invest in the initiatives. Additionally, Albertsons Companies, Inc. (NYSE:ACI) is also investing heavily in its customer retention programs which could help the tougher grocery division add volumes and create additional room for growth initiatives.
7. Elastic N.V. (NYSE:ESTC)
Number of Hedge Fund Holders In Q2 2024: 58
Average Analyst Share Price Target: $102.14
Average Analyst Share Price Target Upside: 36%
Elastic N.V. (NYSE:ESTC) is a Dutch software company headquartered in Amsterdam. It operates in the data analysis sector of the software as a service (SaaS) market. Elastic N.V. (NYSE:ESTC)’s products enable businesses to generate insights and analyze their data, which provides them with key advantages in today’s data and computing driven world. In fact, working with data is key for training artificial intelligence software, and for Elastic N.V. (NYSE:ESTC), this means that its products are seeing greater demand as businesses seek to build their in house AI products and try to decide which data out of their repositories is needed for AI and how to extract it. Additionally, Elastic N.V. (NYSE:ESTC)’s SaaS business model makes it a high margin business with stable recurring revenue in the form of subscriptions. It also means that these metrics are baked into the firm’s hypothesis, and any disappointment on this front can create tailwinds for the stock.
Artisan Partners mentioned Elastic N.V. (NYSE:ESTC) in its Q2 2024 investor letter. Here is what the fund said:
“Elastic is a software company that specializes in search and data analysis solutions. Elastic’s search, observability and security solutions are built on the Elastic Search AI Platform, which thousands of companies use, including more than 50% of the Fortune 500. Customers use the software to gain visibility into their data, reduce mean-time-to-resolution and drive actionable outcomes. We believe the company will benefit from the rise of generative artificial intelligence (AI). It provides a differentiated offering due to the combination of a unique pricing model based on consumption, products that handle numerous data types and volumes, and an open architecture environment that offers generative AI development flexibility.”
6. Roivant Sciences Ltd. (NASDAQ:ROIV)
Number of Hedge Fund Holders In Q2 2024: 62
Average Analyst Share Price Target: $17.06
Average Analyst Share Price Target Upside: 42%
Roivant Sciences Ltd. (NASDAQ:ROIV) is a biotechnology company that consolidates patents and develops medicines to sell in the market. Just as is the case with every other biotechnology company, the firm’s hypothesis depends on its ability to commercialize drugs and maintain a robust drug pipeline for future growth. On these fronts, Roivant Sciences Ltd. (NASDAQ:ROIV) entered into a $1.2 billion deal in September that opened up the potential for $175 million in upfront payments to help the firm deal with operating expenses and develop new drugs. Speaking of which, the firm currently has three treatments in its pipeline through its subsidiary Immunovant. These are the IMVT-1402 drug for autoimmune diseases, mosliciguat for pulmonary hypertension stemming from lung disease, and brepocitinib for psoriasis. On this front, its shares moved marginally in September when data for mosliciguat showed a 38% reduction in resistance which was “one of the highest reductions seen” according to Roivant Sciences Ltd. (NASDAQ:ROIV). Other potential tailwinds for the firm include favorable court rulings in liquid nanoparticle lawsuits that could see the firm receive billions in royalties from Pfizer and Moderna for their coronavirus vaccines.
Roivant Sciences Ltd. (NASDAQ:ROIV)’s management shared details for brepocitinib and IMVT-1402 during the Q1 2025 earnings call:
“We have continued clinical development beyond that in our pipeline including in brepocitinib where we’ll be beginning our Phase 3 program in NIU shortly where we have data coming in namilumab and sarcoidosis and so on. We’re very much looking forward to. We’ll talk a little bit about VTAMA today, but the story for VTAMA for this year is really the expansion of the label with AD and some acceleration of psoriasis, certainly volumes and revenues are over time. And then we continue to be hard at work expanding our pipeline looking at mid-late-stage programs. I know there’s a lot of focus on that activity. We will be unveiling our much discussed so far undisclosed program just next month, so hold on for a few more weeks there. And then, continuing to work on prioritizing capital allocation we thinking aggressively around the use of capital to continue to buy back shares and so on.
We are super proud on slide 6 of the pipeline as it currently stands. And one of the things that — I’m sure sometimes you get all these questions about IMVT, but every time I look at our pipeline, we still have one of the best I&I pipelines without IMVT, so excited about the breadth of opportunities there, in particular excited about the next, call it, 18 months both in the [indiscernible], we’ll talk a lot more about today and then brepocitinib where we have pivotal data coming shortly. So, the main updates for the quarter starting on slide 8. One is on brepocitinib, which is that we’ve now completed enrollment in our Phase 3 study in dermatomyositis. It’s 241 subjects across 90 sites. It is the largest interventional DM study ever conducted.
And we can now say with confidence we expect top line data in the second half of next year that study completed enrollment a few weeks back.”
5. MoonLake Immunotherapeutics (NASDAQ:MLTX)
Number of Hedge Fund Holders In Q2 2024: 32
Average Analyst Share Price Target: $72.86
Average Analyst Share Price Target Upside: 43%
MoonLake Immunotherapeutics (NASDAQ:MLTX) is a pre commercial stage biotechnology company that is developing treatments for psoriasis. Its primary treatment that is currently in trials is the drug sonelokimab. This drug is aimed to treat inflammatory diseases, arthritis, psoriasis, and other ailments. Sonelokimab is currently in phase three trials, and since it’s the only late stage drug in its portfolio, MoonLake Immunotherapeutics (NASDAQ:MLTX)’s hypothesis hinges on the drug’s performance. It is currently targeting this drug to treat a skin disease called hidradenitis suppurativa (HS). Results for these trials are expected in the second half of 2025, meaning that there is quite a lot of time before MoonLake Immunotherapeutics (NASDAQ:MLTX) might deliver fireworks. Therefore, the firm’s cash reserves are key to ensure that it can maintain operations until then. As of Q2 2024, MoonLake Immunotherapeutics (NASDAQ:MLTX) had $342 million in cash and equivalents while its quarterly operating expense was $30.2 million. This provides the firm with a wide runway before it has to raise capital which can dilute valuation.
4. Snowflake Inc. (NYSE:SNOW)
Number of Hedge Fund Holders In Q2 2024: 69
Average Analyst Share Price Target: $167.52
Average Analyst Share Price Target Upside: 50%
Snowflake Inc. (NYSE:SNOW) is a data warehousing company that enables businesses to consolidate their data in a single platform to generate insights. It is the second data focused stock on our list of the best Guru stocks to buy, which underscores the importance of this segment to investing when it comes to hedge fund sentiment. This is unsurprising since data is the oil of the artificial intelligence industry and Snowflake Inc. (NYSE:SNOW) is one of the leaders in this space. Estimates show that the firm commands a 22% market share, which provides it with key cost benefits that SaaS stocks hinge on along with stable industry partnerships which are key for stable recurring revenue. For Snowflake Inc. (NYSE:SNOW), this also means that when compared to some other SaaS companies that might struggle as AI enables businesses to develop their own software, the firm can weather the storm by providing data warehousing services. However, growth and cost control are key, as evidenced after the Q2 2025 earnings call when a lack of a margin forecast update led to the stock falling by 14%.
Baron Funds mentioned Snowflake Inc. (NYSE:SNOW) in its Q2 2024 investor letter. Here is what the fund said:
“Snowflake Inc. is a leading cloud data platform that is predominantly used for data analytics. The stock declined 16.4% as investors evaluated the impact of a recently announced CEO transition, an investment cycle driven by spend on AI, a cybersecurity incident, and a rapidly changing competitive environment. With GenAI capturing a larger portion of the public discourse, Snowflake’s positioning in the future data stack is under scrutiny by both investors and customers. We believe Sridhar Ramaswamy, the newly appointed CEO, can help the business more efficiently transition toward an AI-first world. While Databricks and other key competitors are presenting strong results, we believe Snowflake’s brand, existing customer base, and accelerating product innovation should allow it to continue to capture share in a relatively large and strategic market. Management continues to describe strong demand trends for its core data analytics, which is also demonstrated by the relatively healthy expansion rates among existing customers while new go-to-market initiatives can help grow the customer base further. Longer term, we remain excited about the Snowflake’s strategic opportunity as the data platform for its customers.”
3. Avis Budget Group, Inc. (NASDAQ:CAR)
Number of Hedge Fund Holders In Q2 2024: 33
Average Analyst Share Price Target: $126.57
Average Analyst Share Price Target Upside: 52%
Avis Budget Group, Inc. (NASDAQ:CAR) is a rental car company headquartered in Parsippany, New Jersey. Its stock hasn’t seen any love from Wall Street this year, with the shares down 52% year to date. The sell off started in February when Avis Budget Group, Inc. (NASDAQ:CAR)’s shares dropped by 23% in a move that underscored the importance of inventory management for rental car companies. During the Q4 2023 earnings, the firm revealed that inventory mismatches had forced it to sell cars in the used car market at a time when used car prices were low. While no one likes to sell in a bad market, Avis Budget Group, Inc. (NASDAQ:CAR) was forced to do so since it was dealing with higher interest costs per vehicle. However, moving forward, since the firm sold older vehicles, its inventory is now focused more on newer models which can allow Avis Budget Group, Inc. (NASDAQ:CAR) to gain customers on the back of a recovery in the travel industry. Other key factors that can help it in the future are its margins and a lower volume of range constrained EVs.
Avis Budget Group, Inc. (NASDAQ:CAR)’s management defended the inventory sale during the Q2 2024 earnings call:
“In fact, we have taken the necessary steps to adjust our fleet in the first half of the year by selling a record amount of vehicles, which allowed us to achieve utilization in the month of June in the Americas, more than a point above prior year, setting us up to be in a strong position to drive additional utilization and pricing benefits through our transition into the summer peak.
With the improved utilization, we focus on what we can control to strengthen pricing and reduce our overall holding cost. Our goal has been and always will be to ensure that our fleet is kept inside of our demand. And while the quarter shows our fleet size to be up 2%, we started July with fleet down over prior year.”
2. Amicus Therapeutics, Inc. (NASDAQ:FOLD)
Number of Hedge Fund Holders In Q2 2024: 31
Average Analyst Share Price Target: $17.36
Average Analyst Share Price Target Upside: 55%
Amicus Therapeutics, Inc. (NASDAQ:FOLD) is a commercial stage biotechnology company. It develops treatments for Fabry disease and late onset Pompe disease. Despite the fact that it launched its Pompe treatment earlier this year, in a development that is typically beneficial for biotechnology stocks, Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s shares are down by 52% year to date. Some of this is based on the fact that the Pompe treatment was soon met with a competitor called Nexviazyme. This drug is manufactured by Sanofi, which has considerably larger resources than Amicus Therapeutics, Inc. (NASDAQ:FOLD) and stands to better target the market through marketing and supply ramp. Subsequently, the key to the firm’s hypothesis is market surveys that indicate physician opinions on Pompe treatment. Additionally, Amicus Therapeutics, Inc. (NASDAQ:FOLD) also has to ensure strong performance of its Fabry disease treatment called Galafold especially since the treatment was launched eight years ago.
Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s management shared details for its Pompe treatment during the Q2 2024 earnings call:
“Second, let me highlight the continued strong global commercial launch of Pombiliti and Opfolda, our novel therapy for late-onset Pompe disease.
Pombiliti and Opfolda has been and will continue to be a huge growth driver for us this year. We’ve already made great progress against our key performance indicators, which continue to demonstrate the strength of this launch. First and foremost, our number one focus for the year is to maximize the number of patients on therapy by year end. It’s great to report that the rate of new commercial patients coming on Pombiliti and Opfolda in 2024 continues to progress exceptionally well. In the second quarter, we saw the largest number of new commercial patients, meaning patients who were not in our clinical studies. And as of the end of July, we had 186 patients who had been treated or scheduled for treatment. We are incredibly pleased with the demand globally from patients and physicians from this new therapy, and consistently hear inspiring anecdotes from healthcare professionals around the world on how their patients are responding to Pombiliti and Opfolda, which will continue to fuel the momentum throughout the year and beyond.
Sebastien will provide more details in a moment, but the switch dynamics in the U.S., Europe and the U.K. continue to look strong, and we’re seeing great uptake in naïve patients and markets outside the U.S. as well. We’re also making significant progress on the reimbursement front globally and this includes moving patients more quickly through the insurance process in the U.S. as we’ve anticipated. Throughout the remainder of the year, we’ll focus on increasing patient access as we gain reimbursement and launch in additional countries throughout Europe. On the regulatory front, we’re pleased to announce that in July, the Swissmedic approved Pombiliti and Opfolda for adults living with late-onset Pompe disease in Switzerland. For the full year 2024, we’re well on track to deliver our guidance of $62 million to $57 million in global Pombiliti and Opfolda sales, which will be a significant contributor to our growth and set us on a great course to achieve our ambition for Pom-Opf to become the new standard of care treatment in this devastating disease.”
1. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)
Number of Hedge Fund Holders In Q2 2024: 30
Average Analyst Share Price Target: $362.53
Average Analyst Share Price Target Upside: 55%
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is a biotechnology company that recently entered the commercial stage. As a result, its performance depends on the commercial performance of its approved drug. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s leading drug right now is resmetirom, which aims to help people with a fatty liver disease called NASH. It was approved by the FDA in March, which caused the shares to shoot up by 11%. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) enjoys two key advantages with resmetirom, which is marketed as Rezdiffra. First, it has a sizeable market ahead of it, since NASH is one of the largest causes of liver transplants in the US. Second, there are no competitors to the drug, with analysts expecting at least three years before comparable products hit the market. Naturally, this makes it unsurprising that Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) tops our list of the best Guru stocks. However, Novo Nordisk and Akero Therapeutics have readouts pending soon, which could change the hypothesis.
Moving forward, the key to further tailwinds for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) will be its ability to commercialize Rezdiffra – which has a wholesale acquisition cost of $47,000. Here’s what the firm shared during the Q2 2024 earnings call:
“Our field team is focused on patient selection with prescribers. Our patient support team and the specialty pharmacies in our limited distribution network are driving efficient prescription processing and payers are executing on medical exceptions more efficiently because they recognize the unmet need. As a result, patients are moving more quickly through the reimbursement process. We have previously discussed our expectation for a time to fill to improve from about 60 days at launch to about 30 days or less at 6 months. Because of our efforts, time to fill was running faster in the second quarter compared to those initial expectations. We’re also very encouraged by the progress we’ve made with payers. They understand the significant unmet need in NASH, which is the number one driver of liver transplants for women in the United States.
They also recognize the clinical benefits of Rezdiffra for F2/F3 patients and that noninvasive tests or NITs, not biopsies are standard of care. Last quarter coverage was at 30% of commercial lives. As of June 30, more than 50% of commercial lives now have coverage in place for Rezdiffra with over 95% of Rezdiffra covered lives, accepting NITs and not requiring biopsies. We are well on our way to achieving our goal of 80% of commercial lives covered by year-end. As far as government payers, as of July 1, Medicaid coverage was in place across all 50 states. Similar to what we’ve seen with commercial coverage virtually all accept NITs and do not require biopsies. For Medicare, we are on track for full coverage beginning January 1 of next year based on the annual review process for new medications.”
MDGL tops our list of the best stocks to buy according to the Guru ETF. But our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MDGL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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