5 Best CBD Stocks to Invest In

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1. Jazz Pharmaceuticals plc (NASDAQ: JAZZ)

Number of Hedge Fund Holders: 37

Topping the list of the 10 best CBD stocks to buy now is Irish biopharmaceutical firm Jazz Pharmaceuticals plc (NASDAQ: JAZZ). In May, the company acquired Epidiolex manufacturer GW Pharmaceuticals (NASDAQ: GWPH), which produces cannabinoid medication for cancer and neuropathic pain for approximately $7.6 billion. 

RBC Capital analyst Daniel Busby maintained an Outperform rating on Jazz Pharmaceuticals plc (NASDAQ: JAZZ) on July 23, increasing the price target to $216 per share from $190 previously, citing the FDA-approved Rylaze for acute lymphoblastic leukemia and lymphoblastic lymphoma treatment as a potential growth driver for the company.

The company has a market cap of $10.6 billion. In the first quarter of 2021, Jazz Pharmaceuticals plc (NASDAQ: JAZZ) had an EPS of $3.92, beating estimates by $0.21. The company’s first-quarter revenue was $607 million, up from $524 million in the same quarter last year. Shares of Jazz Pharmaceuticals plc (NASDAQ: JAZZ) increased 6% in the previous three months and gained 52% in the previous year. 

At the end of the first quarter of 2021, 37 hedge funds in the database of Insider Monkey held stakes worth $1.26 billion in Jazz Pharmaceuticals plc (NASDAQ: JAZZ), up from 17 in the preceding quarter worth $29,000. 

You can also take a peek at the 15 Best Value Stocks to Invest In and 10 Most Valuable Companies in Europe.

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