10 Best Weight Loss Drug Stocks to Buy in 2026

In this article, we will be taking a look at the 10 Best Weight Loss Drug Stocks to Buy in 2026.

The anti-obesity drug (AOM) market in the United States is rapidly changing structurally. The global GLP-1 market, which is largely anchored by the US, expanded to $79 billion in 2025 due to macroeconomic demand and rapid clinical evolution. Morgan Stanley projects that this market will surpass $190 billion by 2035, with optimistic projections reaching $240 billion.

The introduction of the first approved oral GLP-1 for obesity, the Wegovy pill, in the US in January 2026 marked the largest structural change. In the first eight weeks, it recorded about one-third of new-to-brand prescriptions. Importantly, two-thirds of these consumers are completely unfamiliar with GLP-1 medication, demonstrating that oral delivery does not cannibalize current injectables but rather increases the total potential market.

The federal government is directly negotiating with manufacturers to cap Medicare/Medicaid patients’ out-of-pocket expenses for weight-loss medications at $50 per month under a new initiative known as the BALANCE program, which is a major volume driver. Concurrently, commercial coverage is returning to normal; by 2027, 65% of corporate employers are expected to give GLP-1 benefits, up from 48% in 2025.

Regulators and the Department of Justice are actively tightening restrictions on unapproved compounded formulations, a move expected to redirect significant market share back to branded pharmaceuticals.

A duopoly is quickly giving way to high-stakes diversification in the industry. Next-generation assets, including Novo Nordisk’s CagriSema and Eli Lilly’s Orforglipron, are seeing significant investment following a dramatic $10 billion bidding war in which Pfizer purchased Metsera’s metabolic portfolio.

With clinical efficacy expanding into heart failure, kidney disease, and metabolic comorbidities, obesity drugs have solidified their position as the single highest-growth therapeutic class in biotech history.

With that said, let’s now take a look at the best weight loss drugs.

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Our Methodology

For our methodology, we manually selected the top weight loss drug stocks from various ETFs. We then further narrowed the list by focusing on companies with the most recent news and developments. Finally, we ranked the stocks in ascending order based on the number of hedge fund holders as of Q1 2026, according to Insider Monkey’s database.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).

Here is our list of the 10 best weight loss drug stocks to buy in 2026.

10. Altimmune, Inc. (NASDAQ:ALT)

Number of Hedge Fund Holders: 23

Altimmune, Inc. (NASDAQ:ALT) is one of the best weight loss drugs on this list.

TheFly reported on May 18 that H.C. Wainwright reiterated its Buy rating on ALT while reducing its price objective from $25 to $20. The adjustment was attributed to dilution resulting from the company’s recent equity offerings, although the firm viewed the strengthened funding position and continued advancement of the MASH program as favorable developments.

Moreover, later on May 28, Altimmune, Inc. (NASDAQ:ALT) announced new 48-week results from its IMPACT Phase 2b trial evaluating pemvidutide in patients with metabolic dysfunction-associated steatohepatitis (MASH). The data showed that the investigational dual glucagon/GLP-1 receptor agonist significantly improved several cardiometabolic measures compared with placebo. Patients receiving the 1.8 mg dose experienced notable reductions in triglycerides and total cholesterol levels, along with continued weight loss, lower body mass index, reduced waist circumference, and improvements in both systolic and diastolic blood pressure.

The findings were presented at the European Association for the Study of the Liver (EASL) Congress 2026 in Barcelona. The Corporation also reported that pemvidutide maintained a favorable safety and tolerability profile through 48 weeks, with only a small percentage of patients discontinuing treatment due to adverse events. Previously disclosed trial data further demonstrated meaningful improvements in liver fibrosis and liver stiffness measures among patients treated with pemvidutide compared with those receiving placebo.

Altimmune, Inc. (NASDAQ:ALT) is a clinical-stage biopharmaceutical company developing pemvidutide, a dual GLP-1/glucagon receptor agonist for metabolic and liver diseases.

9. GSK plc (NYSE:GSK)

Number of Hedge Fund Holders: 31

GSK plc (NYSE:GSK) is one of the best weight loss drugs on this list.

TheFly reported on June 17 that GSK and Spero Therapeutics announced that the U.S. Food and Drug Administration approved Utebzi for the treatment of complicated urinary tract infections, including pyelonephritis, in adult patients with limited oral treatment alternatives. The approval marked the first oral carbapenem antibiotic authorized for this patient population. The companies noted that the drug was developed through their licensing and collaboration agreement and expect it to become available in the United States by the end of 2026. The approval also strengthened GSK’s expanding anti-infectives portfolio and highlighted the progress of its partnership with Spero Therapeutics.

Additionally, earlier on June 12, GSK plc (NYSE:GSK) announced that momelotinib, a JAK inhibitor marketed as Ojjaara/Omjjara, received Orphan Drug Designation from both the U.S. Food and Drug Administration and the European Medicines Agency for the treatment of VEXAS syndrome. The designation supports the development of the therapy for a rare and progressive blood disorder associated with significant rheumatologic and hematologic complications. The condition currently lacks approved treatment options and is linked to a high mortality rate, underscoring the unmet medical need in this patient population.

GSK plc (NYSE:GSK) is a global biopharmaceutical company expanding into obesity and metabolic disease research. Its pipeline focuses on obesity-related conditions, including MASH, while leveraging acquisitions and drug development efforts to explore next-generation weight-loss therapies.

8. Hims & Hers Health, Inc. (NYSE:HIMS)

Number of Hedge Fund Holders: 43

Hims & Hers Health, Inc. (NYSE:HIMS) is one of the best weight loss drugs on this list.

TheFly reported on June 17 that Barclays maintained its Overweight rating on HIMS while increasing its price target to $39.00 from $29.00. The firm highlighted that growth in weight-loss offerings, along with contributions from other business areas, is expected to drive stronger revenue and EBITDA momentum in the second half of 2026. Barclays also noted that the stock could see further upside as investors gain greater confidence in the company’s future growth trajectory, with its data indicating improving trends following the partnership announcement with Novo Nordisk.

Separately, on June 2, Hims & Hers Health, Inc. (NYSE:HIMS) announced the completion of its acquisition of Eucalyptus, strengthening its global consumer healthcare platform. The acquisition expands HIMS’ reach across key markets, including the United States, the United Kingdom, Australia, and Canada, while supporting further international growth. By combining Eucalyptus’ digital health expertise and regional capabilities with HIMS’ technology platform, the company aims to provide more personalized and accessible healthcare solutions worldwide. The transaction enhances the company’s global presence and supports its long-term growth strategy focused on expanding its healthcare ecosystem, improving customer access, and delivering personalized care at scale.

Hims & Hers Health, Inc. (NYSE:HIMS) is a telehealth company providing digital healthcare services, including weight management treatments. After offering compounded GLP-1 alternatives, it shifted toward branded weight-loss medications through partnerships with major pharmaceutical companies, building a broader metabolic health platform.

7. Teva Pharmaceutical Industries Limited (NYSE:TEVA)

Number of Hedge Fund Holders: 52

Teva Pharmaceutical Industries Limited (NYSE:TEVA) is one of the best weight loss drugs on this list.

TheFly reported on June 8 that TEVA announced new clinical and real-world findings supporting the use of Austedo and Austedo XR in patients with tardive dyskinesia. Results from the IMPACT-TD study showed that patients with mild symptoms experienced improvements in involuntary movements and daily functioning after treatment. The company also reported updated data from the ongoing three-year RIM-TD study, where more than half of participants achieved a treatment response by week 15, while additional patients showed benefits with continued therapy beyond that period. The findings highlighted the potential value of long-term treatment and reinforced Teva’s efforts to improve disease management and outcomes for individuals living with tardive dyskinesia.

Second, it was announced on June 4 that Teva Pharmaceutical Industries Limited (NYSE:TEVA) expanded its footprint in international markets through the European rollout of AHZANTIVE, an aflibercept biosimilar. The launch began across several countries, including France, Germany, Spain, and the Netherlands, with additional market entries planned later in the year. The product broadens TEVA’s biosimilars portfolio and strengthens its position in ophthalmology. Approved for multiple retinal disorders, AHZANTIVE offers an additional treatment option for patients with vision-threatening conditions. The launch also reflects TEVA’s strategy of increasing access to biologic medicines through partnerships, commercial expansion, and a growing biosimilars business.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) is a global pharmaceutical company advancing its growth strategy through generic GLP-1 treatments. By launching generic versions of liraglutide-based weight-loss and diabetes drugs, Teva aims to improve affordability and access in the growing obesity treatment market.

6. Novo Nordisk A/S (NYSE:NVO)

Number of Hedge Fund Holders: 55

Novo Nordisk A/S (NYSE:NVO) is one of the best weight loss drugs on this list.

TheFly reported on June 16 that Berenberg increased its price target for NVO shares to DKK 325 from DKK 300 while maintaining its Buy rating on the stock.

Separately, on June 11, Novo Nordisk A/S (NYSE:NVO) announced that the Medicines and Healthcare products Regulatory Agency (MHRA) approved the oral version of Wegovy for weight management in adults living with obesity or overweight individuals with at least one related health condition. The approval allows the Wegovy pill to be used alongside a reduced-calorie diet and increased physical activity, providing a new non-injectable option for patients seeking weight-loss treatment.

The daily oral glucagon-like peptide-1 (GLP-1) receptor agonist represents an alternative to injectable therapies currently used for obesity management. The MHRA decision was supported by results from the OASIS 4 Phase 3 clinical trial, which evaluated the effectiveness of the treatment. The approval expands NVO’s obesity treatment portfolio and introduces a more convenient delivery method for eligible patients.

Novo Nordisk A/S (NYSE:NVO) is a leader in the obesity treatment market, pioneering GLP-1 weight-loss drugs. Its portfolio includes Wegovy, oral semaglutide, and Ozempic, targeting obesity and cardiometabolic health while driving major growth in the global weight-management industry.

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