We recently compiled a list of the 10 Best Weight Loss Drug Stocks to Buy in 2026. If you wish to see the full list, visit 5 Best Weight Loss Drug Stocks to Buy in 2026.

5. AstraZeneca PLC (NYSE:AZN)

Number of Hedge Fund Holders: 56

AstraZeneca PLC (NYSE:AZN) is one of the best weight loss drugs on this list.

TheFly reported on June 15 that AZN announced that its supplemental Biologics License Application (sBLA) for Ultomiris (ravulizumab) was accepted and granted Priority Review by the U.S. Food and Drug Administration (FDA). The application seeks approval for the treatment of adults with immunoglobulin A nephropathy (IgAN), a rare kidney disorder. The FDA’s Priority Review designation is given to therapies that have the potential to provide meaningful improvements in treatment options through benefits such as improved safety, effectiveness, or patient care. The FDA’s final decision on the application is expected in the fourth quarter of 2026.

This regulatory milestone closely follows another major commercial victory for the company’s oncology franchise. On June 12, AstraZeneca PLC (NYSE:AZN) announced that the U.S. Food and Drug Administration approved Truqap (capivasertib) in combination with abiraterone and prednisone for the treatment of adults with PTEN-deficient metastatic prostate cancer. The approval applies to patients with metastatic androgen pathway modulation-naive or sensitive disease, identified through an FDA-authorized diagnostic test. The decision positions Truqap as a targeted treatment option for this specific patient population and expands AstraZeneca’s oncology portfolio with a new approach for managing advanced prostate cancer.

AstraZeneca PLC (NYSE:AZN) is a global biopharma company and is expanding into the obesity market with next-generation weight-loss therapies, including oral GLP-1 drugs and monthly injectables. The company aims to compete with market leaders while combining obesity treatments with its strong cardiovascular and metabolic disease portfolio.

4. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 65

Amgen Inc. (NASDAQ:AMGN) is one of the best weight loss drugs on this list.

TheFly reported on June 16 that Mizuho analyst Salim Syed increased the price target for AMGN to $303 from $295 while maintaining a Neutral rating on the shares. The adjustment followed an update to the firm’s valuation model after reviewing AMGN’s first quarter results.

In separate news, on June 7, Amgen Inc. (NASDAQ:AMGN) presented new clinical findings at the American Diabetes Association (ADA) 86th Scientific Sessions, highlighting its efforts to address cardiovascular risks among people with cardiometabolic conditions. The company shared Phase 3 VESALIUS-CV subgroup data evaluating Repatha in 6,002 high-risk diabetes patients with elevated LDL-C levels who had not previously experienced a heart attack or stroke.

The analysis showed that Repatha, used alongside statins or other LDL-C-lowering treatments, lowered the likelihood of major cardiovascular events, including coronary heart disease death, heart attack, or ischemic stroke, by 29% compared with placebo. The treatment also demonstrated a 21% reduction in a broader cardiovascular outcome that included ischemia-related revascularization. Patients receiving Repatha achieved a median LDL-C level of 45 mg/dL, compared with 106 mg/dL among those receiving placebo.

Amgen Inc. (NASDAQ:AMGN) is a global biotech company gaining investor attention in the weight-loss market through MariTide, an experimental obesity drug in Phase 3 trials. With potential monthly dosing and strong weight-loss results, MariTide could become a major competitor in the growing obesity treatment space.

3. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 98

Merck & Co., Inc. (NYSE:MRK) is one of the best weight loss drugs on this list.

TheFly reported on June 18 that MRK announced that the U.S. Food and Drug Administration (FDA) granted an expanded approval for Capvaxive, extending its use to children and adolescents between 2 and 17 years old. The updated indication applies to pediatric patients who have completed their initial pneumococcal vaccination series and have chronic health conditions that increase their vulnerability to pneumococcal disease. With this authorization, Capvaxive becomes the only pneumococcal conjugate vaccine (PCV) in the United States specifically evaluated and approved for this patient group.

In another major operational breakthrough, on June 12, Merck & Co., Inc. (NYSE:MRK) announced that the U.S. Food and Drug Administration (FDA) approved KEYTRUDA and KEYTRUDA QLEX, its anti-PD-1 therapies, in combination with WELIREG for the adjuvant treatment of adults with clear cell renal cell carcinoma (ccRCC) at an increased risk of recurrence after surgery. The approval marks the first use of WELIREG in earlier-stage ccRCC and the first authorization of a PD-1 and HIF-2α inhibitor combination therapy. The decision was supported by results from the Phase 3 LITESPARK-022 trial, which showed the combination reduced the risk of recurrence, metastasis, or death by 28% compared with KEYTRUDA plus placebo in eligible patients.

Merck & Co., Inc. (NYSE:MRK) is a global healthcare company expanding its obesity pipeline through early-stage GLP-1 and dual agonist therapies. While it lacks a marketed weight-loss drug, its metabolic research and strong pharmaceutical portfolio make it a potential long-term obesity market contender.

2. Thermo Fisher Scientific Inc. (NYSE:TMO)

Number of Hedge Fund Holders: 115

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best weight loss drugs on this list.

TheFly reported on June 1 that Wolfe Research analyst Mike Polark initiated coverage of TMO with an Outperform rating and set a $535 price target. The firm highlighted TMO’s strong position in the life sciences tools and diagnostics industry, describing the company as a key player in the sector. Wolfe Research also noted its positive view of Thermo Fisher’s business strategy, particularly its history of expanding through acquisitions.

Moreover, on June 1, Thermo Fisher Scientific Inc. (NYSE:TMO) announced that it introduced new advancements across its Orbitrap mass spectrometry platform, AI-powered software, and integrated laboratory solutions. The company expanded its technology portfolio to support researchers, biopharmaceutical developers, and applied testing laboratories dealing with increasingly complex samples and larger data volumes.

TMO’s latest innovations combine high-resolution, accurate-mass capabilities with connected workflows to improve scientific analysis, accelerate drug discovery, and enhance testing accuracy in areas such as food, environmental, and biological research. The company showcased new Orbitrap systems, software enhancements, and analytical tools designed to provide faster insights and more reliable results across multiple scientific applications.

Thermo Fisher Scientific Inc. (NYSE:TMO) is a life sciences company benefiting from the growth of weight-loss drugs by supplying biopharma services, manufacturing support, and key components needed to scale production of GLP-1 therapies. It provides indirect exposure to the obesity market.

1. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 132

Eli Lilly and Company (NYSE:LLY) is one of the best weight loss drugs on this list.

TheFly reported on June 16 that LLY completed the acquisition of 4E Therapeutics, a neuroscience biotechnology company based in Austin, Texas. The acquired firm is focused on developing oral MNK inhibitor therapies for chronic pain and is advancing a pipeline aimed at modulating the MNK-eIF4E signaling pathway in peripheral sensory neurons. Through the transaction, LLY expands its presence in neuroscience and pain management research. Financial details of the acquisition were not disclosed by the companies.

Separately, on June 14, Eli Lilly and Company (NYSE:LLY) reported positive results from the Phase 3 BRUIN CLL-322 study evaluating Jaypirca (pirtobrutinib) in combination with venetoclax and rituximab for patients with relapsed or refractory chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL). The trial achieved its primary goal, showing that the addition of Jaypirca to a two-year venetoclax and rituximab treatment regimen lowered the risk of disease progression or death by 45% compared with venetoclax and rituximab alone. Data for overall survival, a major secondary endpoint, remain immature and will be assessed further in future analyses. The combination therapy also demonstrated an advantage in delaying the need for subsequent treatment, supporting its potential benefit in this patient population.

Eli Lilly and Company (NYSE:LLY) is a leading pharmaceutical company and a major player in the weight-loss market, driven by strong demand for its obesity and diabetes treatments, including Zepbound and Mounjaro.

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