In this blog you are going to read about Top 5 High Potential Stocks To Buy In 2024, So let’s get started.
Now that 2023 is almost over, it’s a fantastic time to consider the upcoming new investing year. This doesn’t imply you should rebuild your entire portfolio; instead, think about what might be lacking from your holdings and, if the price of a certain stock is good and you have some cash on hand, add those stocks.
Companies that typically provide consistent earnings growth over time are one area to concentrate on. Since patients always require their medications or operations, the healthcare industry is the ideal place to discover these players, regardless of the state of the economy. There are established names in this group as well as emerging talent who could contribute even more development.
Before the new year arrives, let’s examine five of these best stocks to add to your portfolio.
Disclaimer: This blog is only for informational purposes we did not suggest you buy or trade according to us.
Table of Contents
Top 5 High Potential Stocks An Overview
|Reason for Consideration
|Leading gene-editing medication approvals, potential blockbuster products, lower stock valuation
|Anticipated significant rise in future share value
|Expansion into weight loss medication market, strong sales growth, diversified product portfolio
|Positive sales outlook, potential for continued growth
|Dominance in cystic fibrosis treatments, promising drug pipeline, partnership for new sales opportunity
|Expected billion-dollar profits, future growth potential
|Market leadership in robotic surgery, established platform, recurring revenue model
|Sustainable market dominance, future growth potential
|Recent sales surge, strategic plans to overcome patent losses, undervalued stock based on future earnings
|Opportunity for rebound and growth post patent losses
List Of Top 5 High Potential Stocks
CRISPR Therapeutics (NASDAQ: CRSP) has achieved a significant milestone, and there might be one more to come. The U.K. approved exa-cel, a CRISPR-based gene-editing medication that the business just gained the first licence for globally (to be commercialised as Casgevy).
This month, U.S. regulators will make decisions about the treatment of sickle cell disease and beta-thalassemia, respectively.
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This is significant because it indicates potential blockbuster-level product revenue, which is right ahead of us. Another reason it’s significant is that it’s a vote of confidence in the technology that CRISPR Therapeutics uses throughout its pipeline. The company is even working on late-stage research to support a prospective regulatory request for CTX-110, a potential immuno-oncology medication.
In the meantime, compared to earlier times when we had less certainty about the future, CRISPR Therapeutics stock is trading at a significantly lower level. Given that this biotech company is just getting started, the shares could rise significantly from where they are now in the future.
Since Mounjaro, Eli Lilly’s (NYSE: LLY) diabetic medication, has been prescribed by physicians for weight loss as well, the company has gained prominence. Patients have experienced medicine shortages due to the popularity of alternative products like Mounjaro, as supply cannot keep up with demand.
In more positive news, Lilly has received regulatory approval for the same chemical to particularly treat weight loss. The company is also expanding its production capacity. Zepbound will be Lilly’s brand name for the product.
Given that Mounjaro generated $1.4 billion in sales in its most recent quarter, there is cause for optimism over both medications’ ability to spur growth.
However, Lilly is more than a single substance or one particular area of treatment. Numerous products in the fields of neuroscience, oncology, and immunology are sold by the corporation. Additionally, these medications contributed to the company’s 37% quarterly revenue rise, which was mostly driven by growth and new product sales.
Even after recent gains, Lilly shares are likely to rise over time given current growth and future potential due to new and high-growth products.
Leading the world in the sale of treatments for cystic fibrosis (CF), Vertex Pharmaceuticals (NASDAQ: VRTX) has generated billions of dollars in revenue from its CF medications. Thanks to existing treatments and a very good candidate currently undergoing crucial development, this is expected to continue throughout the next decade.
Thus, we can be sure that the CF programme will continue to produce billion-dollar profits for a very long time. However, Vertex is going to provide investors and patients with considerably more. The business will profit from sales on Casgevy because of its partnership with CRISPR Therapeutics.
Additionally, Vertex is developing a candidate to deal with the widespread issue of pain, and VX-548 is expected to finish its key programme by the end of this year. If the trial’s results are positive, the company hopes to release the data early in 2019. If so, a commercial launch might not be too far off.
Vertex is a great investment since it offers all of the aforementioned benefits and is fairly valued, trading at 23 times projected future earnings.
At 8,285 sites, Intuitive Surgical (NASDAQ: ISRG) is the global leader in robotic surgery thanks to its flagship da Vinci system. The competitive advantage, or moat, that Intuitive has that should guarantee its continued dominance of the market is what I appreciate best about it.
Given the high cost of robotic systems, it is improbable that hospitals, even if they are happy with the current platform, will quickly move to a different supplier. Also, since the majority of doctors receive their training on the da Vinci, they will undoubtedly be in favour of continuing with a system that they are familiar with.
I also appreciate that Intuitive makes the majority of its money from the sale of surgical equipment and accessories rather than the robots themselves. This is fantastic since it shows recurring revenue and essentially ensures that Intuitive will continue to make money from each da Vinci that is sold or leased.
Although intuitive shares have increased in value this year, they are still trading at a lesser price compared to predictions of future earnings than they were a few years ago. This along with promising future growth makes the stock a smart buy right now.
The Pfizer Company
Thanks to its coronavirus vaccine and treatment, Pfizer’s (NYSE: PFE) sales soared to all-time highs last year. However, the major pharma company is currently facing two challenges: a fall in coronavirus product revenue and the impending loss of exclusivity of several of its earlier hits.
Some investors have lost interest in Pfizer as a result, but for the rest of us, this presents an excellent purchasing opportunity. Presently, the stock is merely valued at 18.4 times projected future earnings.
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