Biotech is primed and ready to soar. Here are three stocks that our team believes could dish out hefty returns to investors in the coming months.
Stock #1: TG Therapeutics (NASDAQ: TGTX)
Established in 1993, this firm operates out of New York, New York. As a prominent player in the biopharmaceutical sector, TG Therapeutics, Inc. (NASDAQ:TGTX) specializes in identifying, developing, and bringing to market innovative therapies for B-cell malignancies and autoimmune disorders. The firm maintains key partnerships with entities such as LFB Biotechnologies S.A.S, GTC Biotherapeutics, LFB/GTC LLC, Ildong Pharmaceutical Co. Ltd., and Rhizen Pharmaceuticals, S A.
Currently, TG Therapeutics is nearing its target date set by the Prescription Drug User Fee Act (PDUFA), which is December 28, 2022, to secure approval for ublituximab, a medication aimed at addressing relapsing versions of multiple sclerosis (RMS). Industry specialists anticipate that the FDA will greenlight ublituximab for RMS treatment, projecting that by the close of 2024, the drug’s sales could potentially escalate to $1 billion.
Stock #2: Ardelyx Inc (NASDAQ: ARDX)
Ardelyx, Inc. (NASDAQ:ARDX), a biotech firm rooted in Waltham, Massachusetts since its inception in 2007, is renowned for pioneering and marketing the premier therapeutic solution for irritable bowel syndrome. Additionally, it is advancing therapies aimed at addressing hyperphosphatemia, hyperkalemia, and metabolic acidosis.
On December 18, Christopher Raymond, an analyst at Piper Sandler, maintained a favorable Overweight rating on shares of Ardelyx, Inc. (NASDAQ:ARDX), setting a price target at $8. This stance came after the FDA conveyed a need for “several additional weeks” to conclude its feedback on the company’s appeal regarding the XPHOZAH CRL issued the previous year.
In line with an agreement with HealthCare Royalty Partners (HCR), Ardelyx, Inc. (NASDAQ:ARDX) secured an upfront payment of $10 million in June. The firm foresees an additional inflow of $5 million following the anticipated regulatory approval of another drug application by its Japanese ally, Kyowa Kirin Corporation (KKC), in the coming year. In the third quarter of 2022, the company posted revenues amounting to $4.99 million, marking a year-over-year surge of 325%. Given its robust financial foundation, it rightfully earns a spot on our roster of top biotech stocks to consider for investment.
As the third quarter of 2022 wrapped up, Ardelyx, Inc. (NASDAQ:ARDX) caught the interest of 19 hedge funds, as per Insider Monkey’s database, holding investments valued at approximately $42.416 million, a noticeable increase from the 16 hedge funds vested with $11.256 million in the quarter before.
Stock #3: The Tiny Biotech With a $75 Billion Patent
Recently, a tiny biotech firm won a patent on a new treatment that has the potential to “Cut & Paste” disease from your body. The Wall Street Journal reports this company is “transforming medicine.”
And shocking research means that anyone who gets in now could potentially earn a 46,751% return.
