5 Best Revenue Growth Stocks to Buy

In this piece, we will take a look at the five best revenue growth stocks to buy. If you want to take a look at the latest news for the stock market, head on over to 10 Best Revenue Growth Stocks to Buy.

5. BioNTech SE (NASDAQ:BNTX)

Number of Hedge Fund Investors In Q1 2023: 22

BioNTech SE (NASDAQ:BNTX) is a German biotechnology company with a vast product portfolio, targeting a wide variety of cancers and tumors. Its five year average revenue growth rate sits at 208%, and the firm has been beating analyst EPS estimates for the past three quarters.

Insider Monkey dug through 943 hedge funds for 2023’s March quarter to find out that 22 had invested in the firm. BioNTech SE (NASDAQ:BNTX)’s largest hedge fund shareholder is Jim Simons’ Renaissance Technologies with a $63 million stake.

4. Vir Biotechnology, Inc. (NASDAQ:VIR)

Number of Hedge Fund Investors In Q1 2023: 22

Vir Biotechnology, Inc. (NASDAQ:VIR) is a biotechnology firm that manufactures drugs and vaccines for immune system diseases, hepatitis, and influenza. With an average five year revenue growth rate of 538%, it is one of the fastest growing firms on our list. The firm’s shares are rated as a Strong Buy on average, with an average share price target of $49.71 – more than twice the current share price.

22 of the 943 hedge funds polled by Insider Monkey had held Vir Biotechnology, Inc. (NASDAQ:VIR)’s shares as of Q1 2023. Out of these, the largest investor is Steve Cohen’s Point72 Asset Management with an investment of $39 million.

3. Shockwave Medical, Inc. (NASDAQ:SWAV)

Number of Hedge Fund Investors In Q1 2023: 28

Shockwave Medical, Inc. (NASDAQ:SWAV) designs and develops catheters that are used to treat patients with heart disease. Its sales have been consistently growing over the past five years, with an average growth rate of 209%. The firm has also comfortably beat analyst EPS estimates for its past four quarters.

28 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had held a stake in the firm. Out of these, Shockwave Medical, Inc. (NASDAQ:SWAV)’s biggest shareholder is Paul Marshall and Ian Wace’s Marshall Wace LLP since it owns a stake worth $136 million.

2. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Number of Hedge Fund Investors In Q1 2023: 29

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is among the handful of biotechnology companies that are developing treatments for genetic disorders and diseases. It has been growing its revenue since 2017, but the growth has slowed down since then with the latest figure for 2022 sitting at 3.39%. The five year average revenue growth rate is 168%.

After scouring through 943 hedge funds for their investments during 2023’s March quarter, Insider Monkey discovered that 29 had bought and owned Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s shares. David Witzke and Michael Gregory’s Avidity Partners Management is the largest investor in our database due to its investment of $85 million.

1. Axonics, Inc. (NASDAQ:AXNX)

Number of Hedge Fund Investors In Q1 2023: 30

Axonics, Inc. (NASDAQ:AXNX) develops devices that help people with bladder problems. It has consistently grown its revenues over the past five years, which lends it an average growth rate of 363%.

30 of the 943 hedge funds part of Insider Monkey’s database had bought Axonics, Inc. (NASDAQ:AXNX)’s shares as of Q1 2023. Out of these, Steve Cohen’s Point72 Asset Management has the largest stake, since it owns $58 million worth of shares.

Disclosure: None. You can also take a look at 11 Best CBD Stocks To Buy Now and 11 Most Undervalued Foreign Stocks To Buy.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Follow Insider Monkey on Twitter