10 Best Mid Cap Biotech Stocks to Buy

8. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Market Cap: $8.21 billion

Number of Hedge Fund Holders: 49

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) develops medicines for serious diseases. Its primary marketed products include Xywav, Xyrem oral solution, Epidiolex oral solution, Rylaze, Zepzelca, Defitelio, and Vyxeos liposome for injection. These medicines treat excess daytime sleepiness (EDS) in narcolepsy patients seven years of age or older, hepatic veno-occlusive disease (VOD), and other ailments. It ranks eighth among the 10 best mid cap biotech stocks to buy now.

2024 was a record year for the company, with its strong commercial execution leading to over $4 billion in total annual revenue and fiscal Q4 2024 revenue of around $1.1 billion, the highest ever for Jazz Pharmaceuticals plc (NASDAQ:JAZZ). The company attained several significant development and regulatory milestones in 2024 on the R&D front. For instance, in November, it attained the accelerated approval of Ziihera in the US to treat second-line HER2-positive biliary tract cancer.

Strategic corporate development is a key focus for Jazz Pharmaceuticals plc (NASDAQ:JAZZ), which supports its plans to diversify its commercial and pipeline portfolio. It is evaluating oncology and neuroscience assets as part of its ongoing search and is also looking into other rare and orphan diseases. In a report released on March 14, Akash Tewari from Jefferies maintained a Buy rating on Jazz Pharmaceuticals plc (NASDAQ:JAZZ), with a price target of $183.00.