10 Best Immunotherapy Stocks to Buy Now

7. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 49

AstraZeneca PLC (NASDAQ:AZN) is a global biopharmaceutical company. It is a leader in cancer research, focusing on key areas such as tumor drivers, immuno-oncology, antibody-drug conjugates, DNA damage response, cell therapies, and epigenetics.

With a pipeline of over 200 projects and a focus on diverse therapeutic areas, AstraZeneca PLC (NASDAQ:AZN) is well-positioned for continued growth. The company has already achieved impressive results, with sales and reported earnings per share increasing by 18% and 23%, respectively, in the first half of the year. Looking ahead, AstraZeneca PLC (NASDAQ:AZN) aims to double its revenue by the end of the decade.

With its impressive growth trajectory, AstraZeneca PLC (NASDAQ:AZN) has an average Strong Buy rating. Furthermore, the company’s 12-month average price target represents a double-digit increase from its current price levels.

Here’s what Parnassus Investments said about AstraZeneca PLC (NASDAQ:AZN) in its Q2 2024 investor letter:

“AstraZeneca PLC (NASDAQ:AZN) gained after announcing robust first-quarter results and setting 2030 targets at an Investor Day that were above consensus expectations. We continue to believe that AstraZeneca’s robust pipeline and industry-leading innovation in oncology should support above-expectation revenue growth for the next several years.”