In this article, we discuss 5 best stocks for long term growth. If you want to skip our detailed analysis of these stocks, go directly to the 11 Best Stocks for Long Term Growth.
5. Sundial Growers Inc. (NASDAQ:SNDL)
No. of Hedge Fund Holders: 10
Sundial Growers Inc. (NASDAQ: SNDL) is a firm that makes and sells cannabis products. Its dried flower cannabis products are available in a variety of formats, including pre-rolls, oils and capsules. The company is fifth on our list of 11 best stocks for long term growth.
On May 13, investment advisory Canaccord Genuity upgraded Sundial Growers Inc. (NASDAQ: SNDL) stock to Hold from Sell rating and increased the price target to 70c from 65c, citing that the company was trading near implied valuation.
In May, Sundial Growers Inc. (NASDAQ: SNDL) entered into an arrangement with Inner Spirit Holdings to acquire Inner Spirit for total consideration of around $131 million. The combined firm will continue to focus on supplying high-quality cannabis to customers in a safe and disciplined manner, while also creating long-term value for shareholders.
Sundial Growers Inc. (NASDAQ: SNDL) reported that in the second quarter of 2021, net sales from branded cannabis products were $7.3 million, up from $7.2 million in the previous quarter. The company had $885 million in unrestricted cash at the end of the second quarter of 2021.
Our data shows that Renaissance Technologies is one of the biggest stakeholders of Sundial Growers Inc. (NASDAQ: SNDL) with 70.9 million shares worth $67.3 million.
At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $76.6 million in Sundial Growers Inc. (NASDAQ: SNDL), up from 7 the preceding quarter worth $18.8 million.
4. Seelos Therapeutics, Inc. (NASDAQ: SEEL)
No. of Hedge Fund Holders: 13
Seelos Therapeutics, Inc. (NASDAQ: SEEL) develops treatments for illnesses associated with the central nervous system and other uncommon diseases. The company is fourth on our list of 11 best stocks for long term growth. SLS-002 (racemic ketamine), the company’s most capable product, has a lot of capacity to treat acute suicidal ideation behaviour (ASIB) in major depressive disorders (MDD). This company claims that share price will triple if SLS-002 gets FDA approval.
Seelos Therapeutics, Inc. (NASDAQ: SEEL) licensed gene therapy product, SLS-004, is used to treat Parkinson’s disease patients. By 2025, the global anti-Parkinson’s drugs market is anticipated to be worth $7.78 billion.
On July 1, investment advisory Guggenheim kept a Buy rating on Seelos Therapeutics, Inc. (NASDAQ: SEEL) stock with a price target of $8, giving a positive view on the company’s principal product used in treatment of acute suicidal ideation and behavior.
Our data shows that Woodline PartnersKarl is one of the biggest stakeholders of Seelos Therapeutics, Inc. (NASDAQ: SEEL) with 3 million shares worth $8 million.
At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $39.5 million in Seelos Therapeutics, Inc. (NASDAQ: SEEL), up from 11 the preceding quarter worth $47.2 million.
3. Agenus Inc. (NASDAQ:AGEN)
No. of Hedge Fund Holders: 13
Agenus Inc. (NASDAQ: AGEN) is a biotechnology company based in Lexington, Massachusetts, that specializes in immunotherapy. The company develops checkpoint antibodies, cell therapies and vaccines to fight cancer. Agenus Inc. (NASDAQ: AGEN) had a cash balance of $74 million at the end of the second quarter of 2021. The company is third on our list of 11 best stocks for long term growth.
On September 7, investment advisory B. Riley kept a Buy rating on Agenus Inc. (NASDAQ: AGEN) stock and increased the price target to $12 from $11, stating that the company is set for a breakthrough in becoming an important immuno-oncology player.
In May, Bristol-Myers Squibb Co. agreed to pay Agenus Inc. (NASDAQ: AGEN) up to $1.56 billion for the rights to a new type of experimental cancer-fighting drug that relies on the body’s immune system.
Our data shows that Millennium Management is one of the biggest stakeholders of Agenus Inc. (NASDAQ: AGEN) with 5.6 million shares worth $30.9 million.
At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $80.6 million in Agenus Inc. (NASDAQ: AGEN), up from 12 the preceding quarter worth $48.9 million.
2. Senseonics Holdings, Inc. (NYSE: SENS)
No. of Hedge Fund Holders: 16
Senseonics Holdings, Inc. (NYSE: SENS), headquartered in Maryland, United States, is a medical technology firm with prime focus on making glucose monitoring systems. The company is second on our list of 11 best stocks for long term growth. Eversense, the company’s main product, is a glucose monitoring gadget that combines a sensor, smart transmitter, and mobile application.
On August 19, investment advisory H.C. Wainwright initiated coverage of Senseonics Holdings, Inc. (NYSE: SENS) with a Buy rating and a price target of $6, appreciating the company’s lead product Eversense as the only continuous glucose monitoring device available in US and Europe.
In September, Senseonics Holdings, Inc. (NYSE: SENS), in partnership with Ascensia, announced that the University Hospitals Accountable Care Organization (UHACO) in Cleveland has started providing its Medicare enrollees with Eversense CGM System. Eversense sales are expanding globally as a result of collaboration. The company’s total revenue in the second quarter of 2021 was $3.29 million, up from $0.26 million in the second quarter of 2020. Gross profit increased by $1.54 million to $0.39 million in the second quarter of 2021.
Our data shows that Masters Capital Management is one of the biggest stakeholders of Senseonics Holdings, Inc. (NYSE: SENS) with 7 million shares worth $26.9 million.
At the end of the second quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $67.6 million in Senseonics Holdings, Inc. (NYSE: SENS), up from 12 the preceding quarter worth $39 million.
1. Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)
No. of Hedge Fund Holders: 16
Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX), founded in 2002, is a Florida-based biopharma company. The company develops treatments for neuromuscular and neurological illnesses that are rare and debilitating. The company is first on our list of 11 best stocks for long term growth
On August 10, investment advisory Piper Sandler kept an Overweight rating on Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) stock and increased the price target to $6.5 from $5.5, citing that the company continues to generate cash flow.
Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) developed Firdapse, a drug to treat lambert-eaton myasthenic syndrome (LEMS). At the end of the second quarter of 2021 the company reported net revenue of $36.4 million, up 23% from the same quarter previous year. Firdapse generated $33.6 million in total revenue at the end of the second quarter of 2021, up $ 29.6 million from the same quarter previous year. The company is all set to market this product in Japan and Canada.
Our data shows that Armistice Capital is one of the biggest stakeholders of Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) with 10 million shares worth $57.6 million.
At the end of the second quarter of 2021, 16 hedge funds in the database of Insider Monkey held stakes worth $92.1 million in Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX), up from 13 the preceding quarter worth $75 million.
You can also take a peek at 10 Best High-Yield Dividend Stocks According to Billionaire Mario Gabelli and 10 Best Safe Dividend Stocks According to Billionaire Dan Loeb.
