12 Most Profitable Pharmaceutical Stocks Right Now

4. AstraZeneca PLC (NASDAQ:AZN)

Net Income Growth 5Y: 25.87%

AstraZeneca PLC (NASDAQ:AZN) is a British-Swedish multinational pharmaceutical and biotechnology company. The company is primarily involved in the research, development, manufacture, and sale of pharmaceutical and biotechnology products. It focuses on treating a wide range of diseases, including oncology, cardiovascular, gastrointestinal, infection, neuroscience, respiratory, and rare diseases. It also develops vaccines and immune therapies, aiming to deliver life-changing treatments and preventions.

AstraZeneca PLC (NASDAQ: AZN) is one of the most profitable stocks right now. In Q3 2024, the company’s revenue grew 21%, with all focus therapy areas achieving double-digit growth. Core EPS rose 27% to $2.08, driven by a 19% increase in product sales. The U.S. accounted for 43% of revenue, while emerging markets outside China contributed 14%, surpassing China’s 13%. Alliance revenue also grew 50% to $1.5 billion, boosted by sales of Enhertu and Tezspire.

AstraZeneca PLC (NASDAQ:AZN)’s oncology segment grew 22% to $16 billion in the first nine months which was driven by flagship products like Tagrisso and Enhertu. High-value Phase 3 readouts, including LAURA, offer over $5 billion in revenue potential. A $3.5 billion U.S. investment in manufacturing and R&D underscores the company’s focus on innovation and growth.

The corporation’s global presence, with 30% growth in emerging markets outside China, remains a key strength. Despite challenges in China, AstraZeneca PLC (NASDAQ:AZN) continues investing in the region. Recent regulatory approvals in the U.S., Europe, and China are expected to drive growth and solidify the company’s leadership in the pharmaceutical market.

As of Q3 2024, 42 hedge funds held shares in AstraZeneca PLC (NASDAQ:AZN), according to the Insider Monkey database. The largest shareholder in the company was Fisher Asset Management with shares worth $816.5 million. Analysts maintain a consensus Strong Buy rating for the stock, with an average price target of $87.67—ranging from $87.00 to $88.00—indicating a potential 29.65% increase from its recent price of $67.62.