5 Best Weed Stocks to Buy Now

2. Jazz Pharmaceuticals plc (NASDAQ: JAZZ)

Number of Hedge Fund Holders: 29

Irish biopharmaceutical firm Jazz Pharmaceuticals plc (NASDAQ: JAZZ) ranks 2nd in our list of 10 best weed stocks to buy now. The company’s primary focus is the development and commercialization of pharmaceutical products in the fields of narcolepsy, oncology, pain management, and psychiatry. On May 5th, Jazz Pharmaceuticals plc completed its $7.6 billion acquisition of the UK-based biopharmaceutical company GW Pharmaceuticals plc (NASDAQ: GWPH), the drug company that produces and commercializes cannabinoid prescription medicines used to treat neuropathic pain, cancer pain, and multiple sclerosis. Jazz Pharmaceuticals plc is particularly interested in GW’s Epidiolex, a cannabis-based medicine that treats rare types of childhood epilepsy. The drug has over %510 million in sales in 2020.

The company has a market cap of $9.7 billion. The company’s revenue in the first quarter came in at $607 million, up from $524 million in the same period in 2020. Shares of JAZZ climbed 50.7% over the past twelve months. Analysts from investment banking firm Stifel Nicolaus maintained a Buy rating on Jazz Pharmaceuticals plc in April, with a price target of $202.

At the end of the fourth quarter of 2020, 29 hedge funds in the database of Insider Monkey held stakes of Jazz Pharmaceuticals plc (NASDAQ: JAZZ), up from 28 in the previous quarter. The total value of these stakes at the end of Q4 is $1.34 billion. 

Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ:JAZZ)