3 Stocks Poised to Roar in 2024


Finding stocks on the brink of a significant breakthrough is a challenging yet rewarding endeavor. Three insightful contributors from The Motley Fool believe they have identified stocks that could emerge as major winners in 2024. Let's delve into why CRISPR Therapeutics (NASDAQ: CRSP), Madrigal Pharmaceuticals (NASDAQ: MDGL), and Verona Pharma (NASDAQ: VRNA) are catching the attention of investors.

CRISPR Therapeutics: Pioneering Gene Editing

Contributor: Succeed Junior Bakiny

CRISPR Therapeutics has been at the forefront of the gene editing field, culminating in the recent approval of Casgevy, a groundbreaking therapy for sickle cell disease and beta-thalassemia. Developed using the CRISPR method, Casgevy represents the first gene-editing treatment on the market. Although CRISPR Therapeutics' stock performance hasn't reflected the milestone, 2024 holds significant promise.

As the company, in partnership with Vertex Pharmaceuticals, launches Casgevy with a substantial price tag of $2.2 million in the U.S., the potential for multibillion-dollar revenue is considerable. While the road ahead involves navigating the complexities of gene-editing therapies, the groundwork laid with Casgevy's approval positions CRISPR Therapeutics for potential success in 2024.

Madrigal Pharmaceuticals: A Resurgent Biotech

Contributor: Keith Speights

Madrigal Pharmaceuticals, despite a previous double-digit decline in its stock value, is on the rebound, and this resurgence could gain momentum. The optimism surrounding Madrigal stems from its pursuit of U.S. Food and Drug Administration (FDA) approval for resmetirom in treating nonalcoholic steatohepatitis (NASH) by March 14, 2024.

With no FDA-approved treatments for NASH, Madrigal's resmetirom holds significant potential. Analysts project top annual sales ranging from $2.5 billion to $3 billion, and the company's financial position received a boost with a $500 million public stock offering in October. The leadership of new CEO Bill Sibold, with his experience at Sanofi, further strengthens Madrigal's position for potential growth in 2024.

Verona Pharma: A Small Cap with Big Potential

Contributor: David Jagielski

Verona Pharma, despite being a risky investment with no approved product and intermittent revenue, stands out due to its promising therapy for chronic obstructive pulmonary disease (COPD) called ensifentrine. The drug, currently under FDA review with a PDUFA date set for June 26, 2024, has shown efficacy in improving lung function.

COPD affects an estimated 380 million patients globally, presenting a significant market opportunity. If ensifentrine secures FDA approval, it could generate substantial annual revenue, offering Verona Pharma a reliable income source. While the stock comes with inherent risks, the potential gains for investors could be substantial, with a consensus price target suggesting nearly a 60% upside.

Conclusion

Identifying stocks with the potential to outperform in the coming year requires a combination of strategic analysis and foresight. CRISPR Therapeutics, Madrigal Pharmaceuticals, and Verona Pharma, each with its unique strengths and opportunities, have captured the attention of astute investors. As 2024 unfolds, these stocks could be positioned to roar, making them intriguing considerations for those seeking growth and innovation in their investment portfolios.


Note: This is the blogger's opinion, please always consult with your investment advisor before investing your money in stocks.

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