Analysts say nine health care stocks have more than doubled in price this year but still have more than 100% upside potential. CNBC Pro sifted through more than 85,000 companies around the world to find stocks that are up 100% so far in 2024. 12 months. Nasdaq-listed stocks include Jasper Therapeutics, Corbus Pharmaceuticals, Rezolute, Trevi Therapeutics, Delcath Systems, Benitec Biopharma, Arcutis Biotherapeutics, Praxis Precision Medicines and Humacyte. Analysts typically classify stocks in the biotech industry as ones in which investors take higher risks than other industries. Jasper Therapeutics Jasper Therapeutics is a clinical-stage biotechnology company developing briquilimab, a drug that may potentially treat a variety of conditions associated with mast cells and stem cells, including chronic rashes and asthma. Eleven Wall Street firms analyzed the stock. All have a Buy or equivalent rating, and all expect the stock to more than double over the next 12 months. The median price target is $69, suggesting potential upside of 278%. Corbus Pharmaceuticals Corbus Pharmaceuticals was founded in 2009 to develop new cancer treatments. The Massachusetts-based company is developing several drugs that target different aspects of cancer biology and is also working on treatments for obesity. The average median price target among eight analysts is $66.50, suggesting upside potential of 252% over the next 12 months. Rezolute Founded in 2010 and also headquartered in California, Rezolute is dedicated to treating rare diseases, particularly those involving hypoglycemia. The median price target from eight analysts predicts 180% upside potential over the next 12 months, with prices up 385% so far this year. Trevi Therapeutics Trevi Therapeutics is developing a drug called Haduvio to treat chronic cough associated with certain lung diseases. Chronic cough, which affects up to 10% of the U.S. population, can severely impact quality of life and may worsen certain lung diseases for which there are currently no specific approved treatments, the company said. Trevi’s upside potential over the next 12 months is 152%, based on the average price target from the 10 analysts covering the stock. Delcath Systems Delcath Systems specializes in liver cancer treatment. The company was founded in 1988 and its treatments are approved for use in the United States and Europe. Analysts expect the stock to rise 140% over the next 12 months. The stock has doubled this year. Benitec Biopharma Benitec Biopharma specializes in gene therapy for a variety of diseases. The company was founded in Australia in 1995 and is now headquartered in Hayward, California. Benitec is expected to rise 104% over the next 12 months, based on the median price target from five analysts. The stock has gained 203% this year. Arcutis Biotherapeutics Arcutis was established in June 2016 and has successfully obtained FDA approval for three dermatology products. The stock is expected to rise 103% in the next 12 months. Arcutis shares are up 190% so far this year. Praxis Praxis Precision Medicines is focused on developing treatments for diseases of the brain and nervous system. Praxis has gained 223% year to date, and the 10 analysts tracking the stock expect the stock to rise 103% over the next 12 months. Humacyte Humacyte is developing artificial tissues and organs that the company calls “universal implantable bioengineered human tissue.” Humacyte has doubled this year, and analysts expect it to double again in the next 12 months.
9 stocks rose 100% this year or doubled again | Real Time Headlines
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