Nine health-care stocks have seen their prices more than double this year, yet analysts suggest they still possess over 100% upside potential. CNBC Pro conducted a review of more than 85,000 global firms, identifying stocks that have increased by at least 100% in 2024. Each of these stocks is covered by at least five analysts, and they all have a median price target indicating more than 100% upside potential for the next year. The Nasdaq-listed companies include Jasper Therapeutics, Corbus Pharmaceuticals, Rezolute, Trevi Therapeutics, Delcath Systems, Benitec Biopharma, Arcutis Biotherapeutics, Praxis Precision Medicines, and Humacyte. Biotechnology stocks, as noted by analysts, generally present higher risks for investors compared to other sectors.
Jasper Therapeutics is a biotechnology company at the clinical stage, working on briquilimab, a drug intended to address various conditions related to mast cells and stem cells, such as chronic skin rashes and asthma. Eleven Wall Street firms are analyzing Jasper Therapeutics, all endorsing it with a “buy” rating or equivalent. They collectively project the stock to more than double in the upcoming 12 months, with a median price target set at $69, suggesting a potential upside of 278%.
Corbus Pharmaceuticals, established in 2009, focuses on developing novel cancer treatments and is also investigating a remedy for obesity. Based in Massachusetts, it has received a median price target of $66.50 from eight analysts, indicating a 252% upside potential over the next year.
Rezolute, founded in 2010 and located in California, is concentrating on treatments for rare diseases, particularly those involving low blood sugar. Analysts, eight in number, provide a median price target forecasting an 180% upside potential for the next year after the stock has already surged 385% this year.
Trevi Therapeutics is working on Haduvio, a drug designed to treat chronic cough in specific lung conditions. Chronic cough, impacting up to 10% of the U.S. populace, is said to significantly degrade life quality and could exacerbate some lung diseases. The stock holds a potential upside of 152% over the next year, as per the average price target of 10 analysts covering it.
Delcath Systems focuses on liver cancer treatments and was founded in 1988. Its treatments have already gained approval in the U.S. and Europe. Analysts predict the company’s stock will rise by 140% in the next 12 months, having already doubled this year.
Benitec Biopharma is engaged in genetic treatments for various diseases. Founded in 1995 in Australia and currently headquartered in Hayward, California, it is anticipated to rise by 104% in the next 12 months, according to the median price target of five analysts, with a 203% rise already this year.
Arcutis Biotherapeutics, established in June 2016, has achieved FDA approval for three dermatology products. It’s projected to rise 103% over the coming year and has already climbed 190% this year.
Praxis Precision Medicines targets treatments for brain and nervous system disorders. The stock is up by 223% so far this year, and 10 analysts project a 103% increase over the next 12 months.
Humacyte is engaged in creating artificial tissues and organs, described by the company as “universally implantable bioengineered human tissues.” Having doubled this year, analysts expect Humacyte to double once more in the next 12 months.
