12 Best Weight Loss Stocks to Buy According to Hedge Funds

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9. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 42 

AstraZeneca PLC (NASDAQ:AZN) is a British-Swedish multinational biopharmaceutical company specializing in developing and manufacturing treatments for diseases such as cancer, respiratory conditions, cardiovascular issues, and autoimmune disorders. Its product portfolio includes biologics, vaccines, and prescription drugs like Tagrisso for lung cancer, Farxiga for diabetes and heart failure, and Symbicort for asthma and COPD. The company is among the largest pharmaceutical companies worldwide. 

AstraZeneca PLC (NASDAQ:AZN) is advancing in the weight loss and obesity treatment market with innovative drug candidates. AZD5004, an oral GLP-1 receptor agonist licensed from Eccogene, offers a convenient alternative to injectables. Phase I trials demonstrated safety at lower doses, with patients experiencing 5.8% weight loss and improved glucose levels. Now entering Phase IIb trials, AZD5004 is expected to generate $800 million in sales by 2032 due to its favorable tolerability and simplified manufacturing. These developments make AZN one of the best weight loss stocks on our list.

AZD6234, a long-acting amylin receptor agonist, targets gastric emptying and appetite suppression, catering to patients intolerant to GLP-1 therapies. Phase I results showed weight loss with manageable side effects. The corporation is exploring its use in combination with AZD9550, a GLP-1/glucagon dual agonist, to enable once-weekly dosing and fat-selective weight loss, enhancing patient convenience and treatment efficacy. By developing oral treatments and combination therapies, AstraZeneca PLC (NASDAQ:AZN) aims to broaden its market presence and meet diverse patient needs in obesity care.

As of Q3 2024, 42 hedge funds held shares in the company as tracked by the Insider Monkey database. The largest shareholder in the company was Fisher Asset Management with holdings worth $816.5 million. Analysts hold a consensus Strong Buy rating on the stock.

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