Nine healthcare stocks have more than doubled in price this year and still exhibit over 100% upside potential, as per analysts. CNBC Pro evaluated over 85,000 global companies to identify stocks that have increased by at least 100% in 2024. Each stock is covered by at least five analysts, with a median price target indicating over 100% upside potential in the coming year. The stocks listed on Nasdaq include Jasper Therapeutics, Corbus Pharmaceuticals, Rezolute, Trevi Therapeutics, Delcath Systems, Benitec Biopharma, Arcutis Biotherapeutics, Praxis Precision Medicines, and Humacyte. Stocks in the biotechnology sector are typically regarded by analysts as carrying higher investment risks than those in other sectors.
Jasper Therapeutics is a clinical-stage biotechnology company focused on developing briquilimab, a potential treatment for various conditions involving mast and stem cells, such as chronic skin rashes and asthma. The stock is analyzed by eleven Wall Street firms, all of which recommend a “buy” or equivalent, anticipating the stock to more than double over the next year. The median price target is $69, suggesting a 278% potential upside.
Corbus Pharmaceuticals, established in 2009, concentrates on developing new cancer treatments. The Massachusetts-based firm is working on several drugs addressing different cancer biology aspects and is also researching an obesity treatment. The median price target of $66.50 from eight analysts suggests a 252% upside potential over the next year.
Rezolute, founded in 2010 and based in California, is developing treatments for rare diseases, particularly those related to low blood sugar. Eight analysts have provided a median price target indicating a 180% upside potential over the next year, following a 385% rise in the stock this year.
Trevi Therapeutics is developing a medication called Haduvio for chronic cough in specific lung conditions. The company highlights that chronic cough, which affects up to 10% of the U.S. population, can significantly impair quality of life and potentially exacerbate some lung diseases—conditions for which no specific treatments are presently approved. Analysts estimate a 152% upside potential over the next 12 months for Trevi, based on the average price target from 10 analysts monitoring the stock.
Delcath Systems specializes in liver cancer treatments. Founded in 1988, it has products already approved for use in the U.S. and Europe. Analysts anticipate a 140% stock rise over the coming year, having already seen the stock double this year.
Benitec Biopharma is involved in developing genetic treatments for various diseases. Founded in 1995 in Australia and now based in Hayward, California, Benitec is projected to rise by 104% over the next year, according to the median price target from five analysts. The company’s stock has increased by 203% this year.
Arcutis Biotherapeutics, established in June 2016, has successfully brought three dermatology products through FDA approval. The stock is forecasted to rise 103% over the next year, with an increase of 190% so far this year.
Praxis Precision Medicines concentrates on treatments for brain and nervous system disorders. The stock has risen 223% this year, and 10 analysts expect it to rise by 103% over the next 12 months.
Humacyte is developing artificial tissues and organs known as “universally implantable bioengineered human tissues.” The company’s stock has doubled this year, with analysts predicting it to double again over the next year.
