5 Best Marijuana Stocks To Buy Now

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1. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Number of Hedge Fund Holders: 40

Jazz Pharmaceuticals plc (NASDAQ:JAZZ), as a pharmaceutical company, primarily focuses on the development and commercialization of innovative therapies in different therapeutic areas. Utilizing its GW Cannabinoid Platform, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) holds a prominent position in the field of cannabinoid science. The company strongly believes in the potential of cannabinoid medicines to bring about therapeutic advancements and fundamentally transform the way patients manage their frequently neglected illnesses. It is one of the prominent marijuana stocks to monitor. 

On May 11, Needham analyst Ami Fadia increased the firm’s price target on  Jazz Pharmaceuticals plc (NASDAQ:JAZZ) from $205 to $212 while maintaining a Buy rating on the shares. Despite the company’s Q1 results falling below consensus due to increased operating expenditure and tax rate, the analyst highlighted that all aspects of  Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s 2023 guidance were reaffirmed. Fadia believes that the company’s strong execution can persist, and also notes that Jazz Pharmaceuticals is favorably positioned for corporate development initiatives.

According to Insider Monkey’s first quarter database, 40 hedge funds were long  Jazz Pharmaceuticals plc (NASDAQ:JAZZ), compared to 38 funds in the prior quarter. Bernard Horn’s Polaris Capital Management is the biggest stakeholder of the company, with 1.30 million shares worth $191.3 million. 

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