In this article, we will take a look at some of the most affordable biotech stocks that are currently offering attractive upside potential.

On July 6, BioPharma Dive reported that drug developers producing new medicines for the treatment of autoimmune disorders and cancer accounted for more than 40% of venture financing rounds in the first six months of 2026. During the first half, 26 prominent investors injected approximately $9 billion into venture-funded biotech companies. Of this amount, a little over $3.9 billion was invested in cancer and immune drugmakers.

PitchBook’s Senior Analyst, Ben Zercher, said that while areas such as cardiometabolic disorders and obesity might witness some exits, venture funding is expected to persist across immunology and cancer segments as these areas are not highly time-sensitive.

Zercher highlighted that private immune drugmakers are also gaining a lot of attention, as companies like RayThera, Ouro Medicines, and Candid Therapeutics have been receiving a significant amount of funding. Speaking of potential strategic M&A deals within this space, he stated:

“If your T-cell engager can go between oncology and immunology, that looks really attractive to big pharma right now. I could see M&A activity coming just from a pipeline optionality standpoint as we approach the patent cliff.”

With that background, let’s explore our 10 Affordable Biotech Stocks to Buy Right Now.

Our Methodology

To identify relevant stocks for this article, we screened U.S.-listed biotech companies with market capitalizations above $2 billion and a forward P/E ratio below 10. Also, we only shortlisted stocks with at least 30% upside potential, according to consensus, as of the July 10 close. Finally, we selected 10 stocks with the highest upside and ranked them in ascending order.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).

10. Cogent Biosciences Inc. (NASDAQ:COGT)

Cogent Biosciences Inc. (NASDAQ:COGT) is one of the 10 affordable biotech stocks to buy right now.

On June 30, Cogent Bioscience Inc. (NASDAQ:COGT) disclosed that it filed a New Drug Application for bezuclastinib, a drug for the treatment of Advanced Systemic Mastocytosis. The application to the U.S. FDA is backed by encouraging clinical results from the APEX key trial.

Cogent’s President and Chief Executive Officer, Andrew Robbins, stated that they are currently engaging closely with the FDA on each of its three submissions. He remains optimistic that bezuclastinib will attain its initial approvals by the end of 2026. He also acknowledged the efforts of the company’s development team, stating:

“I’d also like to congratulate our small, but exceptionally talented, Cogent development team, whose amazing work analyzing, presenting and submitting data from three pivotal trials in less than twelve months has rapidly positioned the company to achieve our vision of creating best-in-class therapies for patients fighting rare, mutational driven diseases.”

Back in mid-June, the company revealed preclinical findings for its innovative JAK2 V617F mutation-specific inhibitor at the European Hematology Association Congress 2026. Robbins stated that this selective inhibitor has the ability to target the underlying mutational cause of a disease while also reducing the off-target blood-related impacts. He added that they are currently expediting the program and also plan to file the Investigational New Drug application in 2026.

Cogent Biosciences Inc. (NASDAQ:COGT) is a clinical-stage biotechnology company that develops precision therapeutics for genetically defined illnesses. The company’s lead therapeutic candidate, bezuclastinib, is a selective tyrosine kinase inhibitor nearing a Phase 3 trial. It is designed to target KIT receptor mutations involved in systemic mastocytosis and advanced gastrointestinal stromal tumors.

9. Tango Therapeutics Inc. (NASDAQ:TNGX)

Tango Therapeutics Inc. (NASDAQ:TNGX) is one of the 10 affordable biotech stocks to buy right now.

On June 29, Canaccord Genuity increased its target price on Tango Therapeutics Inc. (NASDAQ:TNGX) from $42 to $46, resulting in more than 53% upside potential. The firm kept a Buy rating on the stock, highlighting further upside from vopimetostat + KRAS inhibitors in NSCLC.

The price target adjustment is based on a revised valuation model that incorporates combined revenues from the therapy.

Earlier on June 26, Jefferies upgraded Tango Therapeutics Inc. (NASDAQ:TNGX) from Hold to Buy. The firm also increased its target price substantially from $27 to $60, leading to an upside of more than 100% at the prevailing level.

Despite a 242% rally so far during 2026, Jefferies anticipates further upside following promising data for vopimetostat plus daraxonrasib. It highlighted that this represents a plausible opportunity worth more than $4 billion, covering around 25%-40% of patients with pancreatic ductal adenocarcinoma.

During the second week of June, the company signed an underwriting agreement with Leerink Partners and J.P. Morgan Securities for an offering involving almost 18.2 million of the company’s common stock, as well as pre-funded warrants for more than 1.83 million shares.

The common stock offering was priced at $30 per share, while the warrants were priced at $29.99. The company expects to realize net proceeds of around $566.5 million, which will be used to fund pivotal trials, R&D spending, corporate needs, and commercial efforts.

Tango Therapeutics Inc. (NASDAQ:TNGX) is a precision oncology company focusing on the discovery and development of drugs targeting defined patient populations with unaddressed clinical needs. It develops TNG462, TNG45, and PRMT5 inhibitors for the treatment of pancreatic, lung, and brain cancer, respectively. The company is currently engaged in the development of TNG260 to treat lung cancer.

8. Beam Therapeutics Inc. (NASDAQ:BEAM)

Beam Therapeutics Inc. (NASDAQ:BEAM) is one of the 10 affordable biotech stocks to buy right now.

On July 8, Alec Stranahan from Bank of America Securities reaffirmed his Buy rating for Beam Therapeutics Inc. (NASDAQ:BEAM), following a favorable resolution announced by Prime Medicine regarding its arbitration with Beam.

Stranahan forecasted a target price of $47, which yields more than 33% upside potential at the current level. He highlighted that although the resolution went in Prime’s favor, it will not have much of an impact on Beam. This is because it is only applicable to Prime’s PM647 rather than its entire editing estate.

For Beam, Stranahan noted that based on impressive data for the BEAM-302 biomarker, the focus now will be entirely on the execution of its alpha-1 antitrypsin deficiency. Currently, he sees Prime as a “distant threat” to the company.

Back on June 18, Beam Therapeutics Inc. (NASDAQ:BEAM) disclosed that the U.S. FDA has approved the filing of an investigational new drug, relating to BEAM-304 for phenylketonuria therapy. The company remains focused on BEAM-304 using a novel development strategy in which several mutation-based editors are designed as part of a unified clinical program.

Beam’s President, Giuseppe Ciaramella, Ph.D., stated that the FDA approval facilitates Beam’s approach of designing several mutation-targeted base editors via a unified clinical platform initiative. She also stated that the company plans to launch its Phase 1/2 trial.

Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotechnology company that develops precision genetic medicines and also engages in gene therapies and genome editing research. Since its launch, the company has been spearheading CRISPR-based editing that facilitates the development of advanced genetic medicines.

7. Palvella Therapeutics Inc. (NASDAQ:PVLA)

Palvella Therapeutics Inc. (NASDAQ:PVLA) is one of the 10 affordable biotech stocks to buy right now.

On June 29, Palvella Therapeutics Inc. (NASDAQ:PVLA) disclosed that it filed the initial module of its New Drug Application with the FDA for approval of QTORIN 3.9% rapamycin anhydrous gel. QTORIN is used to treat microcystic lymphatic malformations.

The company plans to file the remaining modules and conclude the NDA application process during the latter half of 2026. The company highlighted that QTORIN rapamycin has attained FDA designations for Orphan Drug, Fast Track designations, and Breakthrough Therapy. The company is also speeding up U.S. launch preparation for a possible independent commercial launch in the early half of 2027, subject to approval.

Earlier on June 22, the company revealed that the FDA had provided a rolling review for QTORIN rapamycin’s New Drug Application. Palvella Founder and CEO, Wes Kaupinen, highlighted that the company plans to use the Breakthrough Therapy, the benefits of rolling review, and Fast Track designations to facilitate an efficient route toward achieving FDA approval. He further stated:

“Following the positive Phase 3 SELVA results, our focus is clear: move with urgency to advance QTORIN rapamycin as the potential first FDA-approved therapy for patients and families affected by microcystic LMs, a serious, lifelong rare disease with no approved treatment options.”

Palvella Therapeutics Inc. (NASDAQ:PVLA) is engaged in the development and marketing of innovative medical technologies and treatments for people suffering from severe and uncommon genetic skin diseases. QTORIN rapamycin, which is the company’s leading product, is currently undergoing Phase 3 trials for microcystic lymphatic malformations and Phase 2 trials for cutaneous venous malformations.

6. Dyne Therapeutics Inc. (NASDAQ:DYN)

Dyne Therapeutics Inc. (NASDAQ:DYN) is one of the 10 affordable biotech stocks to buy right now.

On June 26, TD Cowen initiated its coverage of Dyne Therapeutics Inc. (NASDAQ:DYN), assigning a Buy rating to the stock. The firm stated that the company’s Force platform has the potential to improve drug delivery in neuromuscular and CNS diseases by overcoming the related limitations.

Further, TD Cowen stressed the fact that the company’s late-stage candidates offer the potential to become top-notch therapies. These include z-basivarsen, which targets myotonic dystrophy type 1, and z-rostudirsen, which is used for exon 51 Duchenne muscular dystrophy mutations.

On June 17, Dyne Therapeutics Inc. (NASDAQ:DYN) finalized amendments to its non-dilutive senior secured term loan arrangement with Hercules Capital. As part of the revised arrangement, $50 million had already been funded at the closing of this amendment. In addition to that, Dyne has the option to draw $50 million in term loan tranche, depending on some milestones that need to be achieved.

There were amendments made to the final term loan facility as well, which involved expanding the tranche by $25 million. This means that Dyne has access to $125 million in capital, at Hercules’ discretion.

Dyne Therapeutics Inc. (NASDAQ:DYN) is a biotechnology company that formulates life-transforming targeted therapeutics for individuals with genetically driven neuromuscular diseases. It makes use of its FORCE platform to identify the root cause of a condition and currently has a strong pipeline of clinical and preclinical programs.

5. Viridian Therapeutics Inc. (NASDAQ:VRDN)

Viridian Therapeutics Inc. (NASDAQ:VRDN) is one of the 10 affordable biotech stocks to buy right now.

On June 30, Goldman Sachs increased its target price for Viridian Therapeutics Inc. (NASDAQ:VRDN) from $35 to $39, implying an adjusted upside potential in excess of 105% at the prevailing level. The firm maintained its Buy rating on the stock.

Goldman Sachs reflected on the FDA approval call regarding Viridian’s Lumvoa, which carries a unique profile for the treatment of thyroid eye disease compared to Tepezza. The firm stated that Lumvoa is more efficient for the improvement of proptosis, and its safety profile is promising. Its dosing regimen is also more convenient, which backs a highly optimistic stance towards its planned commercial launch.

On June 30, Truist also increased its target price on the stock from $35 to $38, which yields more than 100% upside potential. The firm reiterated a Buy rating on the stock, also highlighting Lumvoa’s differentiated profile relative to Tepezza.

Besides that, Truist also noted other commercial factors that give Lumvoa a comparative advantage. These include its focus on underserved markets and parity pricing. The firm projects significant revenue generation by 2027 and its franchise extension through an initiative planned for the first quarter of 2027.

Viridian Therapeutics Inc. (NASDAQ:VRDN) is involved in discovering and selling treatments for rare and serious illnesses. It produces three main therapeutics, which include Veligrotrug, Elegrobart, and anti-thyroid-stimulating hormone receptor. Its portfolio of engineered inhibitors of the neonatal Fc receptor includes VRDN-008 and VRDN-006.

4. Praxis Precision Medicines Inc. (NASDAQ:PRAX)

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is one of the 10 affordable biotech stocks to buy right now.

On July 7, Praxis Precision Medicines Inc. (NASDAQ:PRAX) and Remagine Labs disclosed a research partnership and license agreement to design an iontophoretic transdermal patch for the delivery of ulixacaltamide. Ulixacaltamide is a strongly targeted T-type calcium channel inhibitor of Praxis in the essential tremor development.

Both companies will use Remagine’s platform, developed for precise, multi-day sustained skin-based dosing, for ulixacaltamide, supporting Praxis’s oral program.

On June 29, Praxis Precision Medicines disclosed that the FDA allowed a three-month extension to the NDA review for relutrigine, a treatment for epileptic and SCN2A & SCN8A developmental encephalopathy. The new PDUFA target date has been extended from September 27 to December 27.

The extension came after the company had submitted further sensitivity analyses around the current clinical results, which were labeled as a “major amendment” by the FDA. No new clinical trials were requested, and the company was not asked to address any safety or manufacturing issues. Praxis is optimistic about the data on relutrigine and has prepared for the eventual launch of the product.

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is involved in developing therapies to cure disorders related to the central nervous system, which are characterized by neuronal excitation-inhibition imbalance. These disorders include epilepsy, movement disorders, and depression. The company utilizes its proprietary platforms like Cerebrum and Solidus to target such imbalances.

3. Taysha Gene Therapies Inc. (NASDAQ:TSHA)

Taysha Gene Therapies Inc. (NASDAQ:TSHA) is one of the 10 affordable biotech stocks to buy right now.

On June 24, Taysha Gene Therapies Inc. (NASDAQ:TSHA) disclosed the pricing of an underwritten public offering of 32.5 million of its common stock, priced at $6 per share. The offering also involved prepaid warrants to buy 833,333 shares at $5.999 per warrant.

The company anticipates gross proceeds of around $200 million before accounting for underwriting commissions, discounts, and expenses, not including any underwriters’ option exercise. The company has granted the underwriters a 30-day option to buy up to an additional 5 million common shares.

On June 23, Bank of America Securities increased its target price on Taysha Gene Therapies Inc. (NASDAQ:TSHA) from $9 to $10, leading to an adjusted upside potential of more than 57%. The firm maintained a Buy rating on the stock following the company’s update regarding the Part A REVEAL study to evaluate TSHA-102 in Rett syndrome.

The firm stated the data supports the position of TSHA-102 as the earliest available disease-modifying treatment for Rett syndrome.

Taysha Gene Therapies Inc. (NASDAQ:TSHA) develops gene therapies that are based on adeno-associated virus. Its offerings include therapies such as TSHA-120, TSHA-102, TSHA-105, and others, aimed at the treatment of rare genetic diseases.

2. Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX)

Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) is one of the 10 affordable biotech stocks to buy right now.

On July 6, Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) and Vertex Pharmaceuticals announced that both companies have agreed to a definitive agreement, according to which Vertex will acquire Crinetics Pharmaceuticals (CRNX). The deal is priced at $85 a share in cash consideration, effectively valuing the acquisition at around $10 billion or $8.8 billion after accounting for the cash.

The Boards of both companies approved the transaction unanimously, with completion projected for the third quarter of this year. Vertex plans to finance the acquisition through cash on hand and $4.5 billion in bridge financing from Bank of America and Morgan Stanley.

Following the announcement, Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) garnered a lot of attention from analysts, who shared mixed opinions and revised their models based on this acquisition. On July 7, Baird increased its target price on the stock from $62 to $85, leading to an adjusted upside of more than 102%. The firm reiterated an Outperform rating on the stock.

On July 8, Evercore ISI downgraded the stock from an Outperform rating to In Line. The price target was also lowered from $88 to $85, which still leaves attractive upside potential.

Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX) is engaged in the development and marketing of innovative treatments for rare endocrine diseases and endocrine-related tumors. The company offers a range of therapies that are currently in different stages of clinical trials. These include Paltusotine, Atumelnant, CRN09682, oral GLP-1 and GIP nonpeptide.

1. Viking Therapeutics Inc. (NASDAQ:VKTX)

Viking Therapeutics Inc. (NASDAQ:VKTX) is one of the 10 affordable biotech stocks to buy right now.

On June 24, Viking Therapeutics Inc. (NASDAQ:VKTX) disclosed the launch of a Phase 1 Single Ascending Dose (SAD) medical study of VK3019. VK3019 is an experimental Dual Amylin and Calcitonin Receptor Agonist (DACRA), being developed as a possible weight loss therapy.

The study was initiated after the submission and clearance of the investigational new drug filing of VK3019 with the FDA. The Phase 1 study is a placebo-controlled, randomized, double-blind SAD study in healthy adults with a BMI equal to or greater than 30. The main objectives include assessing the tolerability, safety, and pharmacokinetics of one-time under-the-skin VK3019 doses.

Exploratory analyses include variations in body weight following a one-time dose administration. Besides the Phase 1 trial, Viking is presently performing the Phase 3 VANQUISH studies of under-the-skin VK2735 in overweight patients or patients with obesity.

The company is also working on VK2735’s oral tablet formulation and expects to launch a Phase 3 trial assessing oral VK2735 for overweight and obesity later this year. The company plans to report the findings of the study during the third quarter.

Viking Therapeutics Inc. (NASDAQ:VKTX) specializes in metabolic and endocrine disorder therapies. As a clinical-stage biopharmaceutical company, they direct their research efforts towards small-molecule drugs to cure obesity, fatty liver, and diabetes.

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