Wall Street Sees 2 Rising Growth Stocks That Could Rise 47% to 73%

Selecting successful growth stocks has become easier for over a year, whether you recognize it or not. The Nasdaq Composite index rose 43% in 2023 and 39% in the past year. The top market index for growth stocks has had a significant run-up, but biopharmaceutical investment bank analysts foresee greater gains from two special companies.

Viking Therapeutics Viking Therapeutics (NASDAQ: VKTX) shares are up 275% in 2023, but Wall Street experts think they're still rising. The consensus price objective for the clinical-stage biotech stock predicts a 47% rise.

Viking Therapeutics shares rose in February following a phase 2 trial with VK2735, an anti-obesity drug, yielded unexpectedly excellent findings. Viking's candidate resembles Eli Lilly's tirzepatide, which powers Mounjaro and Zepbound. Researchers randomly assigned 174 participants to a placebo or one of four VK2735 doses. After 13 weeks, the highest dose group lost 14.7% of their weight, whereas the placebo group lost 1.7%.

It's early, but VK2735 appears to compete with Lilly's tirzepatide. Wall Street expects tirzepatide sales to exceed $50 billion yearly. If Viking's candidate continues to do well in clinical trials, a wealthy pharmaceutical company may offer a rich buyout to boost the stock.

Before staking all your chips on Viking Therapeutics, remember that it may take over a year to get any authorized products. Recent pricing have raised the company's market valuation to $7 billion despite this unfavorable timetable. Viking Therapeutics stock could rise, but clinical-trial readout issues could cause major losses. Take a risk on this stock as a minor portion of a broad portfolio.

Biotherapeutics Iovance Iovance Biotherapeutics (NASDAQ: IOVA) shares have tripled in six months, and Wall Street expects additional gains. The stock's consensus price objective predicts a 73% increase next year.

In February, the FDA authorized Iovance's initial cancer medication, sending its shares up. Amtagvi is a first-in-class skin cancer treatment created from tumor-infiltrating lymphocytes, which naturally surround and kill tumors. Amtagvi received fast approval to treat advanced-stage melanoma patients who relapsed after Keytruda or a comparable medication. Treatment is tough for this population. 23 of 73 evaluable patients had tumor reductions after treatment.

Tumor response rates expedited Amtagvi approval. Iovance must prove to the FDA that it improves long-term survival to stay marketable. A good tumor response rate means future trials can show the essential benefit, although success is not guaranteed.

Iovance is developing LN-145, a lung cancer medication like Amtagvi. LN-145, like its predecessor, is generated from tumor-infiltrating lymphocytes engineered to identify tumor surface proteins

Though riskier than Viking Therapeutics, Iovance's first medicine was approved faster. Even though complicated cellular-cancer therapy sales miss pre-launch predictions, Iovance has a $4.3 billion market valuation. Be cautious with this stock until its first medicine launches well.

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