Investors have had an easier time so far in 2023 after a terrible, volatile bear market last year. to date. The NASDAQ is up over 16% and the S&P is up over 8%. The Dow is lagging here, and at the same time he’s only up 2.2%. It’s a market environment that offers a sure profit opportunity, as long as investors can cut through the noise and make a profit.
There smart score A tool intervenes. The tool sifts the TipRanks database through a series of AI-enabled algorithms, collecting and collating data on thousands of publicly traded stocks, according to a set of eight predefined factors known to correlate with shares. Evaluate. out performance. Factors are combined for each stock, and each stock is given a single-digit rating (a simple score from 1 to 10), allowing investors to see at a glance where the stock is likely to go. Also, stocks with a smart score of ‘Perfect 10’ are more likely to perform better.
So let’s go there.we can soak in Hint Rank Get the best smart scores from the database and sort by additional attributes. When I did this, I found two that got that perfect 10. Also very underrated. Analysts say these strong buys offer an average upside potential of around 90%. The pair are shown below, along with comments from street stock pros.
Viridian Therapeutics (VRDN)
The first stock on the list is Viridian Therapeutics, a clinical-stage biopharmaceutical company focused on rare diseases, specifically thyroid eye disease (TED), with four ongoing human clinical trials and an additional Contains two plans. Viridian also has three additional research tracks for him on rare autoimmune disease states. The company produces a suite of therapeutic molecules and monoclonal antibodies through its proprietary antibody discovery and engineering platform.
Viridian has chosen a patient-centric model-driven discovery program, using known and proven biology and technology to more efficiently create a range of precision medicine products. The company’s efforts target therapeutic areas known to be commercially established, an approach that promises to ease the path to ultimate profitability.
Viridian’s lead drug candidate in its pipeline is VRDN-001, a monoclonal antibody believed to act as a full insulin-like growth factor 1 receptor (IGF-1R) antagonist. Viridian is currently evaluating this drug in several clinical studies for the treatment of active and chronic TED.
In January, the company disclosed positive data from a third low-dose cohort in its ongoing Phase 1/2 clinical trial in patients with active TED. Viridian also began dosing five of his patients in the Phase 3 THRIVE trial in patients with active TED. , results are expected by the middle of next year. In the short term, in 2Q23 he plans to report additional proof-of-concept results for VRDN-001 as a treatment for patients with chronic TED.
Viridian also has a subcutaneous program in its pipeline with several drug candidates under investigation, including VRDN-001. Among these programs, VRDN-002 – a novel anti-IGF-1R monoclonal antibody incorporating half-life extension technology – is the most advanced, with proof-of-concept data expected by YE2023.
looking to smart score, we can see that Viridian’s stock scores highly on most of the eight factors. Standing out among them are the 100% positive news sentiment and the 100% positive financial blogger sentiment. Among the hedges tracked by TipRanks, the fund increased its holdings by more than 293,000 shares in the last quarter, and in the past three months, corporate insiders have purchased $261,700 worth of his VRDN shares. This gives a perfect 10 on Smart Score.
Stifel analyst Alex Thompson bases his coverage on the stock on optimism about Viridian’s pipeline when compared to potential competitors. Thompson writes: “We believe VRDN is pursuing an interesting/practical approach with three IGF-1R antibodies (Ph3 lead program VRDN-001). ) and ROA (subcu vs. IV), parallel expansion to a larger chronic/low CAS TED population. ), we believe we can achieve a significant minority share of the growing TED market Modeling VRDN, we achieve a maximum US revenue of $1.7 billion, or 66% risk-adjusted. Our base case is comparable efficacy to Tepezza in Phase 3, but we believe superior efficacy will provide greater benefit.”
In addition to this outlook, Thompson gives the stock a buy rating and points to a price target of $49, implying a 94% upside potential over the next 12 months. , click here.)
Wall Street clearly doesn’t mind the bullish view on this one, as the stock has 11 positive reviews to a unanimously strong buy consensus rating. Combining the stock’s trading price of $25.20 with an average target of $47.50, it is up 88% over the course of the year. (look Viridian stock price forecast.)
IDEAYABioscience (Idia)
Next on the list is IDEAYA, another biopharmaceutical researcher. IDEAYA is committed to precision medicine as a novel therapeutic modality in the field of oncology, basing its research platform and pipeline on molecular diagnostics to precisely target synthetic therapeutics to patient populations. are matching. IDEAYA’s team is world-class, leveraging his expertise in clinical research, translational biology, small molecule therapeutics, and oncology in developing pipeline projects.
Its pipeline is extensive and includes several preclinical studies supporting three candidates for clinical study: darovasertib, IDE397 and IDE161. The first of these is in two ongoing clinical trials and the others are the subject of one ongoing trial each. All three focus on specific cancers characterized by specific gene deletions or mutations.
The lead candidate, Darovasertib, is undergoing trials broadly targeting ocular melanoma, both as monotherapy and in combination with crizotinib. The combination is the subject of a Phase 2 trial in metastatic uveal melanoma (MUM), with the company targeting his 2Q23 to 3Q23 for a data update on “approximately 20 first-line MUM patients.” I’m here. Previous data, published last September, showed positive results, including tumor shrinkage in 89% of patients and disease control rate of 83%. As a monotherapy, darovasertib is undergoing a Phase 2 study in neoadjuvant/adjuvant uveal melanoma (UM), with interim clinical data expected later this year.
A second drug candidate, IDE397, is a small molecule inhibitor being tested in combination with AMG193 for the treatment of solid tumor patients with MTAP deficiency. This is a sizeable patient block, totaling approximately 15% of solid tumor patients. The company continues to develop a Phase 1/2 clinical trial program for this indication. Phase 2 clinical trials are evaluating IDE397 as monotherapy in a “basket” of MTAP-deficient non-small cell lung cancer (NSCLC), esophagogastric cancer and bladder cancer.
Finally, IDE161, a candidate PARG inhibitor, has entered the clinic in a Phase 1/2 trial in patients with tumors meeting well-defined biomarkers based on genetic mutations. His IND for this drug candidate was cleared in the fourth quarter of last year, and clinical trials began in his first quarter of 2023.
As an important financial note, IDEAYA has substantial funding to support these clinical trials and trial initiation. The company reported having $373.1 million in cash and other liquid assets at the end of last year.
Above smart scorewe find several reasons for optimism, including hedges that bought $1.5 million worth of IDYA stock last quarter and a financial blogger who is 100% positive here. acquired $87,000 worth of stock.
IDYA also caught the attention of Berenberg analyst Zhiqiang Shu, who wrote: (MUM) study; 2) MAT2A inhibitor IDE397 may be best-in-class as a base-line therapy for MTAP-deficient cancers, with potentially significant benefits. 3) the PARG inhibitor IDE161, a new class of anticancer agents. We believe IDYA is likely to rise due to a number of data-related catalysts over the next 12-18 months. Reported end-2022 cash of $373 million should support operations through 2026. “
These comments confirm Shu’s buy rating, with his $26 price target suggesting an 88% one-year gain over the next 12 months. (To see Shu’s achievements, click here.)
IDEAYA’s strong buy consensus rating is based on seven recent analyst reviews, with a 6-to-1 vote in favor of buy over hold. The average price target for the stock is $26.43, representing a 91% increase in one year from the current trading price of $13.80. (look IDEAYA stock price forecast.)
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Disclaimer: The opinions expressed in this article are those of the featured analyst only. This content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.