5 Medical Marijuana Stocks to Buy Now

1. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Number Of Hedge Fund Holders: 38

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is an Irish specialty cannabis biopharmaceutical company that develops several drugs to treat diseases and disorders, including sleep disorders, cancer, leukemia, liver diseases, and post traumatic stress disorder.

On June 13, UBS analyst Ashwani Verma initiated coverage of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) with a Buy rating and $194 price target as part of a broader research note on U.S. Pharmaceuticals. The company’s diversification from childhood epilepsy and Oncology is underappreciated, the analyst tells investors in a research note, stating that the Street is also overestimating the impact of patent cliff.

Earlier this May, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has completed the divestiture of Sunosi in the U.S. to Axsome Therapeutics. Under the terms of the agreement, Jazz received an upfront payment of $53 million, and will receive a high single-digit royalty on Axsome’s U.S. net sales of Sunosi in current indications and a mid-single-digit royalty on Axsome’s U.S. net sales of Sunosi in future indications.

35 hedge funds owned a stake in the company as of the first quarter of 2022, with Jim Simons’ Renaissance Technologies being the largest investor in Jazz Pharmaceuticals plc (NASDAQ:JAZZ), owning over 1.5 million shares worth roughly $236 million.

You can also take a look at 10 Stocks to Buy Before the Next Recession and 10 Best Recession Stocks To Buy.

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