5 Best Marijuana Stocks To Invest In

1. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Number of Hedge Fund Holders: 42

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a biopharmaceutical company that focuses on identifying, developing, and commercializing pharmaceutical products to address medical needs in neuroscience and oncology. Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is also involved in medical marijuana. On November 8, the company announced a Q3 non-GAAP EPS of $4.84, falling short of market estimates by $0.09. Revenue for the third quarter came in at $972.14 million, beating Wall Street consensus by $2.8 million. 

According to Insider Monkey’s fourth quarter database, 42 hedge funds were long Jazz Pharmaceuticals plc (NASDAQ:JAZZ), compared to 40 funds in the prior quarter. Bernard Horn’s Polaris Capital Management is the largest stakeholder of the company, with 1.26 million shares worth nearly $156 million. 

Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:

“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).

Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…

Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)

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