10 Best Mid-Cap Healthcare Stocks To Buy Now

4. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Hedge Fund Holders: 44 

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a biopharmaceutical company specializing in neuroscience and oncology. It develops and markets treatments for sleep disorders, epilepsy, and cancer, selling its products to healthcare providers, hospitals, and pharmacies.

Jazz’s growth is primarily driven by its key products, including Xywav, Epidiolex, and Rylaze. These three products combined saw a 15% year-over-year revenue increase in Q2 2024. The acquisition of GW Pharmaceuticals in 2021 for $7.2 billion has allowed Jazz Pharmaceuticals plc (NASDAQ:JAZZ) to enter the cannabis-based medication market. Epidiolex, a CBD-derived drug for treating seizures, has become a significant revenue contributor.

In the second quarter of 2024, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) achieved a significant milestone by surpassing $1 billion in quarterly revenues. This achievement was driven by effective execution and increased demand for key growth products like Xywav, Epidiolex, and Rylaze. The company also reported a return to profitability with net income of $168.6 million, or $2.49 per share.

As of Q2 2024, around 44 hedge fund holders held stakes in the stock with Vestal Point Capital being the largest stakeholder with 1,500,000 worth $160,095,000. The stock holds a Strong Buy rating based on 18 Wall Street Analysts. The average price target is $173.76, ranging from $113.00 to $230.00, indicating a 49.82% increase from the current price of $115.98.