12 Most Profitable Pharmaceutical Stocks Right Now

2. Lantheus Holdings, Inc. (NASDAQ:LNTH)

Net Income Growth 5Y: 65.43% 

Lantheus Holdings, Inc. (NASDAQ:LNTH) is a leading company in the biopharmaceutical sector, specializing in diagnostic imaging agents and therapeutics. Founded in 1956 and headquartered in North Billerica, Massachusetts, the company focuses on developing, manufacturing, and commercializing innovative products primarily used in cardiology and oncology.

Lantheus Holdings, Inc. (NASDAQ:LNTH) has emerged as one of the most profitable stocks because of its strong performance in the radiopharmaceutical sector and impressive financial results. In the third quarter of 2024, the company reported consolidated net revenue of $378.7 million, marking an 18.4% increase year-over-year. GAAP fully diluted earnings per share reached $1.79, with adjusted EPS at $1.70, reflecting a 15.6% increase. The company also achieved a gross profit margin of 68.2%, an improvement of 109 basis points, and an operating profit of $165.1 million, up 18.3% from the previous year.

Key growth drivers include the success of PYLARIFY, Lantheus Holdings, Inc. (NASDAQ:LNTH)’ PSMA PET imaging agent. In Q3 2024, PYLARIFY generated approximately $260 million in net sales, up 20% year-over-year, and it maintains market leadership as the number one PSMA PET imaging agent. With projected sales exceeding $1 billion, PYLARIFY is on track to achieve blockbuster status in 2024. Additionally, DEFINITY, the company’s ultrasound enhancing agent, reported Q3 net sales of $77 million, a 14% increase from the previous year, benefiting from competitor supply challenges that resulted in higher market share.

Looking ahead, Lantheus Holdings, Inc. (NASDAQ:LNTH) is well-positioned to capitalize on expanding markets, particularly in Alzheimer’s diagnostics. The U.S. market for Alzheimer’s radio diagnostics is projected to reach $1.5 billion by the end of the decade and $2.5 billion by the mid-2030s. The company is also advancing its late-stage pipeline with MK-6240 and NAV-4694, radio diagnostics for Alzheimer’s disease, which further enhance its growth potential.

As tracked by the Insider Monkey database, 35 hedge fund holders held shares in Lantheus Holdings, Inc. (NASDAQ:LNTH) in Q3 2024, with Farallon Capital being the largest stakeholder with shares worth $324.4 million. Street analysts hold a consensus Strong Buy rating on the stock.