2025 was a year characterized by both challenges and opportunities for the biotechnology sector. Despite volatility, the segment remained on a high-growth trajectory, driven by several clinical and operational breakthroughs across categories. However, going forward, the segment is expected to face significant regulatory, political, and financial uncertainties.
On January 8, Boston Consulting Group published a detailed report titled “Biopharma Trends 2026,” highlighting what is in store for the sector for the coming year. This includes a significant shift in R&D spend, with greater focus on large populations and real-world applicability. Additionally, the industry will continue to see an uptick in M&A activity, as many biopharma companies pursue inorganic growth strategies. Another key priority for companies will be cost-optimization measures to help them achieve target margins. The report indicates a challenging landscape for biopharma players, which will require them to rethink their business models, incorporate AI in their operations, and maintain their focus on innovative therapies. That is the only way these businesses can sustain themselves.
Across public markets, the highly volatile nature of biotechnology stocks presents both risks and attractive opportunities. With careful selection, these stocks can help portfolios outperform the broader market by a wide margin. However, navigating this highly competitive, rapidly evolving segment remains a challenge for investors.
With that background, let’s explore our 17 Biotechnology Stocks With More Than 50% Upside.
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Our Methodology
To identify relevant stocks for this article, we screened U.S.-listed biotechnology companies with market capitalizations above $2 billion and with share prices above $5. Next, we identified stocks with at least 50% upside potential based on TipRanks consensus as of the February 12 closing. Finally, we selected 17 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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
17. BioMarin Pharmaceutical (NASDAQ:BMRN)
Number of Hedge Fund Holders: 54
Upside Potential: 47.3%
BioMarin Pharmaceutical (NASDAQ:BMRN) is one of the 17 biotechnology stocks with more than 50% upside.
As of February 12 closing, BioMarin Pharmaceutical (NASDAQ:BMRN) carried a moderately bullish analyst sentiment. Of the 15 analysts covering the stock, 10 assigned Buy ratings and 5 issued Hold ratings. With no Sell rating, the stock has a projected median 1-year price target of $88.29, implying more than 47% upside.
On February 6, Allison Bratzel from Piper Sandler reiterated her Overweight rating on BioMarin Pharmaceutical (NASDAQ:BMRN). The analyst reduced her price target on the stock from $122 to $84. Despite this downward revision, her estimates still imply upside potential of more than 40% from the prevailing level. Bratzel’s rating incorporates recent fourth-quarter pre-releases, which also prompted Piper Sandler to adjust its estimates and price targets for some commercial names.
BioMarin Pharmaceutical (NASDAQ:BMRN) develops and commercializes targeted therapies for life-threatening medical conditions and rare genetic diseases. Some of its major products include VIMIZIM, VOXZOGO, NAGLAZYME, and ALDURAZYME. The company operates in more than 70 countries and currently has several drugs in the development stage.
16. Apogee Therapeutics (NASDAQ:APGE)
Number of Hedge Fund Holders: 30
Upside Potential: 52.5%
Apogee Therapeutics (NASDAQ:APGE) is one of the 17 biotechnology stocks with more than 50% upside.
On January 25, Citi analyst Geoff Meacham maintained a Buy rating on Apogee Therapeutics (NASDAQ:APGE), with a $95 price target. His forecast indicates potential upside of more than 37%.
Selloff in Apogee Therapeutics (APGE) stock, following the release of Sanofi’s Phase 3 amlitelimab data, is viewed as a market overreaction by Meacham. He maintains that data readout does not negatively affect prospects for the company’s APG279. This candidate is a fixed-dose combination that targets both IL-13 and OX40L.
Back on January 22, Brian Abrahams from RBC Capital lowered his rating on Apogee Therapeutics (NASDAQ:APGE) from Outperform to Sector Perform. The analyst raised the price target from $70 to $83, implying nearly 20% upside.
Abrahams noted that the segment in which Apogee Therapeutics (NASDAQ:APGE) operates is “becoming increasingly crowded with well-entrenched existing players” despite the company’s primary drug, zumilokibart, showing potential as a long-acting IL-13 for atopic dermatitis. He reflected on the 108% surge in the share price over the past year, which limits the potential for additional gains.
Apogee Therapeutics (NASDAQ:APGE) is a clinical-stage biotechnology company developing novel biologics to treat inflammatory and immune diseases. These include atopic dermatitis, asthma, chronic obstructive pulmonary disease, eosinophilic esophagitis, and others. Its existing pipeline includes APG777, APG279, APG990, APG333, and APG808, all in different clinical trial stages.
15. Arcellx Incorporated (NASDAQ:ACLX)
Number of Hedge Fund Holders: 36
Upside Potential: 61.6%
Arcellx Incorporated (NASDAQ:ACLX) is one of 17 biotechnology stocks with more than 50% upside.
On February 12, Qize Ding from Rothschild & Co Redburn downgraded the rating on Arcellx Incorporated (NASDAQ:ACLX) from Buy to Neutral. In the process, he also reduced the price target from $113 to $82, which still yields a revised upside potential of almost 20%. Ding’s views are based on his conservative stance on the company’s CAR-T cell therapy class amid rising competition across larger markets in other modalities.
On February 9, Stifel analyst Stephen Willey reaffirmed his Buy rating on Arcellx Incorporated (NASDAQ:ACLX), with a $127 price target. His forecast leads to an upside potential of 85% from the current level.
Willey’s rating came after the company presented new laboratory study data at the TANDEM meeting. He highlighted that the findings support anito-cel’s potentially leading safety profile, showing lower unintended immune activity and fewer off-target effects than rival CAR-T treatments. The analyst also pointed to differences versus cilta-cel (Carvykti) and ide-cel (Abecma), suggesting its off-target interactions could be linked to severe delayed side effects seen in clinical use. Moreover, Willey believes the data strengthens anito-cel’s positioning as a potentially best-in-class therapy and continues to view the stock as a “core SMid-cap holding.”
Arcellx Incorporated (NASDAQ:ACLX) develops advanced immunotherapies for cancer patients and individuals with other incurable conditions. The company leverages its proprietary D-Domain technology to develop more effective treatments that target AML, multiple myeloma, and other malignancies. The current pipeline includes the development of ACLX-001 and ACLX-002, which target BCMA in rrMM and CD123 in AML/MDS.
14. Vera Therapeutics (NASDAQ:VERA)
Number of Hedge Fund Holders: 36
Upside Potential: 64.1%
Vera Therapeutics (NASDAQ:VERA) is one of the 17 biotechnology stocks with more than 50% upside.
On January 27, Anupam Rama of JPMorgan maintained an Overweight rating on Vera Therapeutics (NASDAQ:VERA) with a $96 price target. His estimates imply upside of more than 127%.
Rama believes the shares offer strong upside potential from the current trading range. He anticipates that as competitors’ clinical data emerges, the stock price of Vera Therapeutics (NASDAQ:VERA) could rise toward a more appropriate risk-adjusted valuation.
Back on January 16, Cantor Fitzgerald also reiterated its Overweight rating on Vera Therapeutics (NASDAQ:VERA). Based on a $100 target price, the stock offers nearly 137% upside at the current level.
The firm highlighted that conditions appear favorable for atacicept’s possible approval to treat IgA-related kidney disorder. It also pointed towards the company’s solid foundation for a successful launch, indicating a strong opportunity for market entry once it has obtained regulatory approvals.
Vera Therapeutics (NASDAQ:VERA) is a late-stage clinical biotechnology company that addresses immunological conditions. The company develops and commercializes transformative treatments for serious diseases, including immunoglobulin A nephropathy. It is currently developing MAU868, which is a monoclonal antibody for BK viremia infections in transplant patients.
13. Spyre Therapeutics (NASDAQ:SYRE)
Number of Hedge Fund Holders: 21
Upside Potential: 66.1%
Spyre Therapeutics (NASDAQ:SYRE) is one of the 17 biotechnology stocks with more than 50% upside.
As of the close of play on February 12, consensus sentiment around Spyre Therapeutics (NASDAQ:SYRE) was strongly bullish. The stock had received coverage from 7 analysts, all of whom assigned Buy ratings. It has a projected median 1-year price target of $57.86, offering an upside of more than 66%.
On January 22, Spyre Therapeutics (NASDAQ:SYRE) announced plans for 2026, where it will prioritize six POC readouts. The company mentioned that its SKYLINE ulcerative colitis trial has seen SPY001 enrollment complete ahead of schedule, accelerating Part A readouts to sometime in the second quarter. The SKYWAY basket trial on rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis remains on track for fourth-quarter readouts in 2026. Financially, $783 million in pro forma cash, cash equivalents, and marketable securities as of September 30, 2025, provides a runway through the second half of 2028. The company also appointed Kate Tansey Chevlen as Chief Commercial Officer, who is a seasoned biopharma commercial leader.
Spyre Therapeutics (NASDAQ:SYRE) is a clinical-stage biotechnology company developing advanced antibody therapeutics for patients with inflammatory bowel disease (IBD). The company focuses on next-gen cures for conditions such as ulcerative colitis and Crohn’s disease. Its current pipeline includes SPY001, SPY002, SPY003, and some combination therapies.
12. Centessa Pharmaceuticals (NASDAQ:CNTA)
Number of Hedge Fund Holders: 40
Upside Potential: 68.3%
Centessa Pharmaceuticals (NASDAQ:CNTA) is one of the 17 biotechnology stocks with more than 50% upside.
On January 29, Danielle Brill from Truist Financial raised her price target on Centessa Pharmaceuticals (NASDAQ:CNTA) from $33 to $38 and assigned a Buy rating to the stock. Her rating came after Truist Financial updated its projections following a thorough reassessment of the current data regarding the orexin-2 receptor agonist class.
On January 16, Biren Amin from Piper Sandler maintained an Overweight rating on Centessa Pharmaceuticals (NASDAQ:CNTA). He forecasted a $38 price target for the stock, which implied a 57% upside potential.
Amin highlighted two major catalysts expected this quarter. These include the planned initiation of Phase 3 trials for ORX750 across NT1, NT2, and IH, along with additional findings from the CRYSTAL-1 Phase 2 study. The analyst is optimistic about idiopathic hypersomnia as it may represent a larger and potentially underappreciated market opportunity.
Centessa Pharmaceuticals (NASDAQ:CNTA) is involved in the discovery and development of transformative medicines for neurological and neurodegenerative diseases. The company operates under an asset-centric Research and Development model, with a portfolio of subsidiaries that support specialized research programs. These individual programs are treated as separate entities to ensure highly efficient, data-driven decision-making.
11. Praxis Precision Medicines (NASDAQ:PRAX)
Number of Hedge Fund Holders: 33
Upside Potential: 79.1%
Praxis Precision Medicines (NASDAQ:PRAX) is one of the 17 biotechnology stocks with more than 50% upside.
On February 10, Guggenheim analyst Yatin Suneja raised the price target on Praxis Precision Medicines (NASDAQ:PRAX) from $760 to $800. He maintained a Buy rating on the stock, which he believes offers more than 140% upside.
Suneja highlighted his analysis and feedback from industry experts, which suggests ulixacaltamide’s market adoption potential in essential tremor, supporting a market opportunity above $15 billion and projecting peak sales of $5-$10 billion. Praxis Precision Medicines (NASDAQ:PRAX) also maintained its position of being among Guggenheim’s Top Picks for 2026.
Back on January 30, the price target on Praxis Precision Medicines (NASDAQ:PRAX) was raised from $340 to $1,245 by H.C. Wainwright analyst Douglas Tsao as well. The analyst assigned a Buy rating to the stock with revised upside potential of 274%.
Tsao believes that ulixacaltamide has proven to be “transformative” for the company. At the same time, relutrigine is currently being ignored but will eventually drive “significant value” in the stock. He increased his highest sales predictions for both ulixacaltamide and relutrigine. Notably, his outlook for relutrigine is much more optimistic, with expected peak sales reaching $6.8 billion.
Praxis Precision Medicines (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.
10. Beam Therapeutics (NASDAQ:BEAM)
Number of Hedge Fund Holders: 27
Upside Potential: 80.3%
Beam Therapeutics (NASDAQ:BEAM) is one of the 17 biotechnology stocks with more than 50% upside.
On January 22, Patrick Trucchio from H.C. Wainwright maintained a Buy rating on Beam Therapeutics (NASDAQ:BEAM), with a price target of $80. This results in a highly attractive upside potential of more than 197%.
Trucchio’s rating is based on several factors linked with the company’s clinical and regulatory progress. He noted the company’s recent agreement with the U.S. FDA to expedite the approval process for BEAM-302 in alpha-1 antitrypsin deficiency. This would enable the use of AAT biomarker data over a 12‑month horizon, which would serve as a primary basis for the future BLA.
The analyst also reflected favorably on the company’s impressive financial standing, backed by a solid cash and marketable securities balance of nearly $1.25 billion as of the end of 2025. As per his assessments, this balance should be enough to finance business operations till 2029, fund the development of BEAM-302, and cover the anticipated launch of risto-cel.
Back on January 8, Beam Therapeutics (NASDAQ:BEAM) was assigned a Neutral rating with a $28 price target by UBS analyst Michael Yee. The analyst anticipates more certainty for investors, which sets the stage for the biotech sector to do well in 2026. Going forward, he expects major catalysts and attractive pipelines to drive the segment returns.
Beam Therapeutics (NASDAQ:BEAM) is a biotechnology company that develops precision genetic medicines and also engages in gene therapies and genome editing research. Since its launch, Beam Therapeutics (NASDAQ:BEAM) has been spearheading CRISPR-based editing that facilitates the development of advanced genetic medicines.
9. Olema Pharmaceuticals (NASDAQ:OLMA)
Number of Hedge Fund Holders: 22
Upside Potential: 81.9%
Olema Pharmaceuticals (NASDAQ:OLMA) is one of the 17 biotechnology stocks with more than 50% upside.
On February 11, Laura Prendergast of Stifel Nicolaus initiated coverage of Olema Pharmaceuticals (NASDAQ:OLMA). She assigned a Buy rating to the stock with a $48 price target, which leads to more than 102% upside potential for investors.
Using a conservative approach, Prendergast has modeled peak sales for palazestrant at $3.1 billion in 2035. She also noted that endocrine therapy in ER+HER2 can be “a $20B+ global market opportunity with plenty of room for many big players.”
On January 7, Michael Yee of UBS also initiated coverage of Olema Pharmaceuticals (NASDAQ:OLMA), assigning a Buy rating and a $48 price target. He based his rating on a more favorable outlook for the biotech segment after what he described as a “rough period.” Yee expects greater investor confidence in the segment, which should drive better performance in 2026.
Olema Pharmaceuticals (NASDAQ:OLMA) is a clinical-stage biopharmaceutical company focused on discovering and developing therapies for women’s cancers. They commercialize next-gen breast cancer therapies, particularly targeting ER+/HER2- cancer. Its lead program is Palazestrant (OP-1250) to cure metastatic breast cancer, which is currently in Phase 3 clinical trials.
8. Vaxcyte Incorporated (NASDAQ:PCVX)
Number of Hedge Fund Holders: 46
Upside Potential: 115.7%
Vaxcyte Incorporated (NASDAQ:PCVX) is one of the 17 biotechnology stocks with more than 50% upside.
On January 23, Cantor Fitzgerald maintained its Overweight rating on Vaxcyte Incorporated (NASDAQ:PCVX), highlighting continued progress across the company’s clinical pipeline. The firm reflected on the topline readout from the Phase 3 OPUS-1 trial, expected in the fourth quarter of 2026, with a planned BLA filing the following year. OPUS-2 has already begun participant dosages, and OPUS-3 is set to start in Q1 of 2026. Both studies are expected to deliver results in the first half of 2027.
On January 7, Needham analyst Joseph Stringer raised the price target for Vaxcyte Incorporated (NASDAQ:PCVX) from $90 to $110 and maintained a Buy rating on the stock. This results in more than 100% upside at the prevailing level.
Stringer’s rating is backed by the inclusion of the stock on the firm’s Conviction List, highlighting it as a Top Pick for 2026 after replacing Phathom Pharmaceuticals (PHAT). The analyst shared his view that the strongly positive Phase 2 data for VAX-31 reduce risk ahead of the Phase 3 readout, which is expected in the fourth quarter of 2026. He believes the company’s pneumococcal vaccine retains best-in-class potential.
Vaxcyte Incorporated (NASDAQ:PCVX) is a company developing next-generation vaccines to protect against serious bacterial diseases. Currently a clinical-stage company, Vaxcyte Inc. (NASDAQ:PCVX) deploys innovative synthetic methods and advanced chemistry to produce complex, high-fidelity vaccines that contain enhanced immunological benefits.
7. Dyne Therapeutics (NASDAQ:DYN)
Number of Hedge Fund Holders: 45
Upside Potential: 145.8%
Dyne Therapeutics (NASDAQ:DYN) is one of the 17 biotechnology stocks with more than 50% upside.
As of the February 12 closing, Dyne Therapeutics (NASDAQ:DYN) held a strongly bullish consensus view. Of the 9 analysts covering the stock, 7 assigned Buy ratings and 2 issued Hold ratings. With no Sell rating, the stock has a projected median 1-year price target of $39.33, implying almost 146% upside.
On January 20, Dyne Therapeutics (DYN) reported that Japan’s Ministry of Health, Labour and Welfare granted Orphan Drug designation to the company’s experimental drug zeleciment-basivarsen to treat myotonic muscular dystrophy type 1, DM1. The company’s Chief Medical Officer Doug Kerr, M.D., Ph.D., stated:
”By targeting the underlying biology of DM1, z-basivarsen has shown early and sustained improvements in myotonia, muscle strength and function, with a favorable safety profile. This designation in Japan, alongside those already granted in the U.S. and Europe, emphasizes the urgent need for new therapies and highlights the potential of z-basivarsen to deliver meaningful functional improvement for people living with DM1.”
Dyne Therapeutics (NASDAQ:DYN) is a biotechnology company that formulates life-transforming targeted therapeutics for individuals with genetically driven neuromuscular diseases. Dyne Therapeutics (NASDAQ:DYN) uses its FORCE platform to identify the root cause of a condition and currently has a strong pipeline of clinical and preclinical programs.
6. Wave Life Sciences (NASDAQ:WVE)
Number of Hedge Fund Holders: 38
Upside Potential: 154.5%
Wave Life Sciences (NASDAQ:WVE) is one of the 17 biotechnology stocks with more than 50% upside.
As of the February 12 closing, consensus sentiment around Wave Life Sciences (NASDAQ:WVE) remained strongly bullish. The stock received coverage from 15 analysts, all of whom assigned Buy ratings. The stock has a projected median 1-year price target of $32.57, implying more than 154% upside.
On February 2, William Maughan from Clear Street reiterated his Buy rating for Wave Life Sciences (NASDAQ:WVE). In the process, he raised the target price from $47 to $50, which indicates almost 291% upside for investors.
Maughan shared his views after GlaxoSmithKline (GSK) transferred the rights to WVE-006 for alpha-1 antitrypsin deficiency. The analyst viewed this development as overall positive for Wave Life Sciences (NASDAQ:WVE), though a muted reaction reflects the greater significance of WVE-007 in the stock’s valuation. Maughan also remains optimistic about the company’s alpha-1 antitrypsin deficiency program.
Wave Life Sciences (NASDAQ:WVE) develops and commercializes ribonucleic acid (RNA) medicines, with a focus on RNA editing, splicing, and silencing. The company leverages its technology platform, PRISM, which ensures precision targeting of diseases and improvement of pharmacological properties through stereopure oligonucleotides. It currently has a pipeline of programs comprising WVE-006, WVE-007, and WVE-N531.
5. Ultragenyx Pharmaceutical (NASDAQ:RARE)
Number of Hedge Fund Holders: 55
Upside Potential: 160.3%
Ultragenyx Pharmaceutical (NASDAQ:RARE) is one of the 17 biotechnology stocks with more than 50% upside.
On February 3, the price target on Ultragenyx Pharmaceutical (NASDAQ:RARE) was set to $60 by H.C. Wainwright analyst Ram Selvaraju, who maintained a Buy rating on the stock. The analyst’s estimate leads to a promising upside potential of more than 155% from the prevailing level.
Selvaraju attributed his views to the company’s impressive rare disease pipeline and expected regulatory milestones. He also highlighted on-schedule BLA resubmission for UX111, which includes extended clinical data showing sustained neurologic benefits and biomarker improvements. The filing also includes an adequate safety profile for Sanfilippo syndrome type A, which does not have any approved therapies. The analyst is optimistic about the company achieving profitability as early as 2027, which reflects favorably on its attractive risk-reward profile.
On January 28, Ultragenyx Pharmaceutical (NASDAQ:RARE) was assigned an Overweight rating by Barclays analyst Eliana Merle. She estimated a target price of $44, which yields more than 87% upside potential. Merle anticipates a more favorable outlook for biotech stocks, supported by robust fundamentals and forecasted continued mergers and acquisitions activity.
Ultragenyx Pharmaceutical (NASDAQ:RARE) develops novel therapies, with a focus on identifying, acquiring, and commercializing products for rare and ultra-rare genetic diseases. It places strong emphasis on gene therapy and covers the various stages of clinical trials. The company is currently experiencing high cash burn, with the aim of becoming profitable from 2027 onward.
4. Corcept Therapeutics (NASDAQ:CORT)
Number of Hedge Fund Holders: 28
Upside Potential: 174.5%
Corcept Therapeutics (NASDAQ:CORT) is one of the 17 biotechnology stocks with more than 50% upside.
On February 2, Edward Nash from Canaccord Genuity reaffirmed his Buy rating for Corcept Therapeutics (NASDAQ:CORT). He forecasted a price target of $100, which leads to almost 161% upside potential on the stock.
Nash noted that the CRL issued by the U.S. FDA for the relacorilant NDA confirms their prior expectations. Their model already accounted for the need to conduct an additional trial, leading them to factor in a three-year delay for relacorilant to enter the Cushing’s market.
On January 22, the price target on Corcept Therapeutics (NASDAQ:CORT) was raised from $90 to $105 by H.C. Wainwright analyst Swayampakula Ramakanth. He maintained his Buy rating on the stock, which he expects has an upside potential of almost 174%.
Based on impressive survival data, Ramakanth raised his market penetration forecast for relacorilant in ovarian cancer, moving it from 20% to 25%. The company recently shared successful median results for survival data from its major Phase 3 ROSELLA study, which focuses on platinum-resistant ovarian cancer.
Corcept Therapeutics (NASDAQ:CORT) is a commercial-stage pharmaceutical company developing therapies for severe conditions. These include endocrinologic, oncologic, metabolic, and neurologic disorders. It is developing medicines that target hyperglycemia, hypercortisolism, prostate cancer, and amyotrophic lateral sclerosis.
3. Soleno Therapeutics (NASDAQ:SLNO)
Number of Hedge Fund Holders: 58
Upside Potential: 175.1%
Soleno Therapeutics (NASDAQ:SLNO) is one of the 17 biotechnology stocks with more than 50% upside.
On January 20, the price target on Soleno Therapeutics (NASDAQ:SLNO) was increased from $110 to $120 by Ram Selvaraju from H.C. Wainwright. He also reaffirmed his Buy rating on the stock, which, as per his forecasts, offers an upside potential of almost 211%. The analyst based his rating on the company’s impressive sales figures, which continue to beat estimates.
On January 20, Wells Fargo analyst Derek Archila maintained an Overweight rating on Soleno Therapeutics (NASDAQ:SLNO). He also raised the price target from $106 to $114, leading to a revised upside potential of 195%.
Archila highlighted fourth-quarter earnings for Vykat extended-release that surpassed expectations. Although new PSFs fell short, management’s recent remarks confirmed a target of approximately 250 new starts per quarter, excluding the effects of any seasonal factors. Given the company’s strong cash flow profile, the analyst views shares as currently undervalued.
Soleno Therapeutics (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company developing novel therapies for rare diseases such as Prader-Willi Syndrome. Its leading product is Diazoxide Choline Extended-Release tablets, VYKAT XR. The company began commercialization of VYKAT XR in April 2025, following FDA approval.
2. Legend Biotech (NASDAQ:LEGN)
Number of Hedge Fund Holders: 28
Upside Potential: 219.6%
Legend Biotech (NASDAQ:LEGN) is one of the 17 biotechnology stocks with more than 50% upside.
On January 20, Leonid Timashev of RBC Capital maintained an Outperform rating on Legend Biotech (NASDAQ:LEGN) and set a $66 price target. The analyst shed light on the FDA’s draft guidance that supports the use of Minimal Residual Disease (MRD) negativity and complete response rate to expedite approval endpoints in multiple myeloma. This appears favorable for Legend Biotech (LEGN), as it supports the company’s trial design and enhances near-term visibility for the CARTITUDE-6 study in the initial treatment setting.
On January 20, Raymond James also reaffirmed its Outperform rating on Legend Biotech (NASDAQ:LEGN) with an $86 price target. The firm also attributed its bullish stance to the FDA’s proposed guidance that backs the use of Minimal Residual Disease (MRD) and complete response rate for accelerated approvals in multiple myeloma. Moreover, the firm believes such endpoints are valuable in less aggressive forms of the disease, where survival outcomes often require at least 4 to 5 years to show meaningful changes.
Legend Biotech (NASDAQ:LEGN) is a commercial-stage biopharmaceutical company that develops innovative therapies. Being an end-to-end cell therapy company, they focus on medication for serious diseases such as hematologic malignancies and solid tumors.
1. Summit Therapeutics (NASDAQ:SMMT)
Number of Hedge Fund Holders: 27
Upside Potential: 296.3%
Summit Therapeutics (NASDAQ:SMMT) is one of the 17 biotechnology stocks with more than 50% upside.
As of the close of play on February 12, consensus sentiment around Summit Therapeutics (NASDAQ:SMMT) was moderately bullish. The stock had received coverage from 6 analysts, 4 of whom had assigned Buy ratings and 2 gave Hold calls. With no Sell rating, the stock carries a projected median 1-year price target of $57.98, implying a strong upside of more than 296%.
Back on January 29, Summit Therapeutics (NASDAQ:SMMT) confirmed that the U.S. FDA had accepted its application for ivonescimab, a lung cancer treatment to be used in combination with chemotherapy in patients who have progressed after targeted therapy. The application is backed by results from the global phase III HARMONi trial data, with November 14, 2026, being the decision date.
The application aims to fill a market gap by catering to 14,000 eligible U.S. patients annually, along with the existing commercial exposure in China through the company’s partnership with Akeso. This positions Summit Therapeutics (NASDAQ:SMMT) to potentially enter the U.S. oncology market if approved.
Summit Therapeutics (NASDAQ:SMMT) is a clinical-stage biopharmaceutical company that develops and commercializes medical oncology therapies. It is focused on developing ivonescimab, a bispecific antibody that combines blockade of PD-1 and anti-angiogenesis in a single molecule. It is also running Phase III clinical trials for the treatment of non-small lung cancer.
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