In this article, we will be taking a look at the 20 Best Biotech Stocks Under $20 to Buy Now.
The U.S. biotechnology market enters 2026 as the largest global biotech market, with an estimated size of $552.39 billion in 2023, and is projected to grow to $1.24 trillion by 2030. North America accounts for over 40% of global biotechnology revenue, maintaining its lead due to capital availability, clinical infrastructure, and research funding.
Three dramatic changes characterize the biopharma business as of January 2026. AI-Integrated Development is now concentrating on “AI-driven clinical architecture,” which goes beyond drug discovery and employs machine learning to anticipate regulatory success and stratify patient populations in order to reduce the duration of medication development.
The M&A Renaissance follows a record-breaking 2025 with about 70 transactions totaling over $20 million. Due to a “patent cliff” that might jeopardize $300–400 billion in yearly revenue by 2030–2032, big pharmaceutical companies are actively purchasing biotech startups with advanced, late-stage pipelines in metabolic health, neuroscience, and oncology.
As prices rise due to shifting trade policies and geopolitical unpredictability, operational resilience is becoming more important. The pharmaceutical industry may gain $13–$19 billion a year from proposed tariffs, which would encourage American businesses to reshore production and make investments in local bioprocessing capacity, including advanced biologics and cell and gene therapy facilities.
The US biotech industry continues to be a shining example of high-alpha opportunity, despite ongoing debate over regulatory obstacles and medication pricing adjustments under the Inflation Reduction Act.
With this being said, let’s now examine the best biotech stocks under $20.
Our Methodology
For our methodology, we first screened for stocks trading below $20 with positive upside potential. From this pool of stocks, we selected the 20 stocks priced under $20 as of the January 28 market close and ranked them in ascending order based on the number of hedge fund holders as of Q3 2025, using data from the Insider Monkey database. In cases where multiple stocks had the same number of hedge fund holders, the stock price was used as a tiebreaker to determine their final placement in the ranking.
Why do we care about what hedge funds do? 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).
Here is our list of the 20 best biotech stocks under $20 to buy now.
20. Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)
Number of Hedge Fund Holders: 18
Stock Price: $2.57
Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) is one of the twenty best biotech stocks.
TheFly reported on January 16 that Piper Sandler lowered the price target for BDTX to $8 from $9 and maintained an Overweight rating. The change coincided with the company’s revision of several models and price estimates throughout its biotechnology coverage, as well as an update to its 2026 Catalyst Tracker.
Separately, on December 3, 2025, Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) released positive Phase 2 data for silevertinib in frontline NSCLC with non-classical EGFR mutations and demonstrated robust CNS activity with a 60% response rate. The company plans to negotiate with the FDA and carry out a randomized Phase 2 glioblastoma study in 2026 with funding through the second half of 2028.
Following this, on December 3, Guggenheim did not set a price objective for BDTX and instead reduced its recommendation from Buy to Neutral. The anticipated 2Q26 progression-free survival result and the planned Phase 3 trial’s increased risk were highlighted by analyst Brad Canino.
Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) is a clinical-stage oncology company that focuses on developing MasterKey therapies that target families of oncogenic mutations across tumors. Its pipeline includes brain-penetrant, precision small-molecule inhibitors in trials for EGFR and other mutation-driven cancers, which aim to address unmet needs in solid tumors.
19. Altimmune, Inc. (NASDAQ:ALT)
Number of Hedge Fund Holders: 18
Stock Price: $5.12
One of the best biotech stocks on our list is Altimmune, Inc. (NASDAQ:ALT).
TheFly reported on January 27 that Barclays initiated coverage of ALT with an Overweight rating and a $20 price target. Strong underlying fundamentals, continuous merger and acquisition activity, and alleviating medication pricing concerns are the reasons behind the firm’s optimistic outlook for the biotech industry in 2026. Additionally, Barclays pointed out that ALT and other biotech stocks are still cheap in comparison to their pipeline potential.
Altimmune, Inc. (NASDAQ:ALT) also announced on the same day that it intends to use the net proceeds from the offering for working capital, general company needs, and getting ready for its next Phase 3 MASH research. The FDA’s Breakthrough Therapy Designation and positive Phase 2b 48-week findings bolster the company’s claim that pemvidutide is a novel glucagon/GLP-1 dual agonist.
Altimmune, Inc. (NASDAQ:ALT) is a clinical-stage biopharmaceutical company developing next-generation peptide-based therapeutics for metabolic and liver diseases, including obesity and metabolic dysfunction-associated steatohepatitis (MASH). Its lead candidate, pemvidutide, targets GLP-1 and glucagon receptors to reduce weight, liver fat, and cardiometabolic risk.
18. ImmunityBio, Inc. (NASDAQ:IBRX)
Number of Hedge Fund Holders: 18
Stock Price: $6.15
ImmunityBio, Inc. (NASDAQ:IBRX) is among the best biotech stocks.
TheFly reported on January 20 that Piper Sandler raised its price target on IBRX to $7 from $5 and maintained an Overweight rating. According to the update, U.S. ANKTIVA net sales increased by almost 700% year over year to $113 million in 2025. Revenue is expected to reach $180 million in 2026. A possible label expansion for ANKTIVA in 2027 may be supported by positive QUILT-2.005 data anticipated in Q4 2026, according to the firm’s encouraging interim results.
Additionally, on January 23, ImmunityBio, Inc. (NASDAQ:IBRX) reported Phase 2 QUILT-3.078 results in recurrent GBM. According to the studies, the longest survival was 12 months, and the median overall survival has not achieved, meaning that 19 out of 23 patients are still living. The regimen had a reasonable safety profile, immunological competence was preserved, and severe lymphopenia improved (ALC ≥1.4 ×10³/µL).
ImmunityBio, Inc. (NASDAQ:IBRX) is a U.S. biotechnology company developing next‑generation immunotherapies and vaccines that enhance the natural immune system to fight cancers and infectious diseases.
17. Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)
Number of Hedge Fund Holders: 18
Stock Price: $7.37
The seventeenth stock on our list is Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT).
TheFly reported on January 22 that Roth Capital initiated coverage of ARCT with a Buy rating and a $20 price target. The firm noted that the company’s two mid-stage programs show clinical activity and have peak sales potential that exceed $1 billion. Roth also highlighted that ARCT shares are trading close to their cash value, effectively pricing in a 0% chance of success for these assets, which makes ARCT potentially one of the most mispriced stocks in rare disease.
Similarly, earlier on January 6, Citigroup lowered its price target for Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) from $9 to $7 and maintained a Neutral rating. The firm highlighted opportunities in SMID-cap biotech for 2026, particularly in companies at the commercial or near-commercial stage.
Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) is a biotechnology company developing mRNA‑based vaccines and RNA therapeutics using proprietary delivery technologies. Its pipeline targets infectious diseases like COVID‑19 and influenza, as well as rare liver and respiratory disorders.
16. Lexeo Therapeutics, Inc. (NASDAQ:LXEO)
Number of Hedge Fund Holders: 21
Stock Price: $7.44
Lexeo Therapeutics, Inc. (NASDAQ:LXEO) is placed sixteenth on our list.
TheFly reported on January 13 that H.C. Wainwright analyst Mitchell Kapoor lowered the price target for LXEO to $10 from $13 and maintained a Buy rating. The firm believes that the market is still not persuaded by LXEO’s recent PKP2 findings; the drop implies a lesser possibility of acceptance for the PKP2 program.
A day earlier, on January 12, Lexeo Therapeutics, Inc. (NASDAQ:LXEO) released preliminary results from its HEROIC-PKP2 Phase I/II trial of LX2020, which is an AAV-based gene therapy for PKP2-associated arrhythmogenic cardiomyopathy. There was no clinically significant complement activation, and LX2020 was usually well tolerated across dosage cohorts. PKP2 protein increased in a dose-dependent manner during treatment, averaging 93% in the low-dose group and 162% in the high-dose group. Premature ventricular contractions and non-sustained ventricular tachycardia are examples of arrhythmia features that often improve or stabilize.
Lexeo Therapeutics, Inc. (NASDAQ:LXEO) is a clinical‑stage genetic medicine company focused on developing innovative gene and RNA therapies to target the underlying causes of cardiovascular diseases. It advances candidates for conditions like Friedreich’s ataxia and arrhythmogenic cardiomyopathy to improve long‑term heart health outcomes.
15. 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)
Number of Hedge Fund Holders: 21
Stock Price: $8.60
The fifteenth stock that takes place on our list is 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT).
TheFly reported on January 27 that Barclays initiated coverage of FDMT with an Overweight rating and a $33 price target. Positive considerations for FDMT and the group in 2026 included the biotech industry’s solid fundamentals, the undervaluation of several companies, anticipated tailwinds from mergers and acquisitions, and a decreased emphasis on medicine prices.
Separately, on January 7, 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) provided a 2026 corporate update. The 4FRONT Phase 3 investigations of 4D-150 in Wet AMD involved 480 patients in each phase; 381 participants have already been randomized for 4FRONT-1, and global enrollment for 4FRONT-2 is anticipated to be completed by H2 2026. A global Phase 3 trial for diabetic macular edema is scheduled for Q3, and 2-year SPECTRA Phase 1/2 results are anticipated in H2 2026. The second half of the year is also expected to see updates on the Phase 2 4D-710 program for cystic fibrosis.
4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) is a clinical‑stage biotechnology company that develops targeted gene therapies using its proprietary Therapeutic Vector Evolution platform. It engineers customized AAV vectors to treat serious diseases like retinal disorders, cystic fibrosis, and cardiomyopathy, with multiple clinical and preclinical candidates advancing toward potential transformative treatments.
14. Korro Bio, Inc. (NASDAQ:KRRO)
Number of Hedge Fund Holders: 22
Stock Price: $11.69
Korro Bio, Inc. (NASDAQ:KRRO) is next on our list of best biotech stocks.
TheFly reported on January 29 that H.C. Wainwright upgraded KRRO from Neutral to Buy with a $20 price target. The firm highlighted KRRO-121 as a second, independently risk-mitigated asset and described it as a “call option” that is separate from the company’s earlier KRRO-110 program. H.C. Wainwright highlighted the independent potential of KRRO-121 by pointing out that KRRO’s shares are trading close to zero enterprise value.
Similarly, on the same day, Chardan Capital also upgraded Korro Bio, Inc. (NASDAQ:KRRO) from Neutral to Buy with a $15 price target following the company’s analyst day. The upgrade reflected the firm’s view that KRRO has “turned the page,” supported by strong preclinical data for KRRO-121.
Korro Bio, Inc. (NASDAQ:KRRO) is a biopharmaceutical company developing precision genetic medicines by editing RNA to treat rare and prevalent diseases. Using its proprietary OPERA platform, KRRO advances RNA‑editing therapies, including clinical and preclinical programs.
13. Relay Therapeutics, Inc. (NASDAQ:RLAY)
Number of Hedge Fund Holders: 26
Stock Price: $7.65
Relay Therapeutics, Inc. (NASDAQ:RLAY) is the next best biotech stock on our list.
TheFly reported on January 26 that Oppenheimer upgraded RLAY from Perform to Outperform and set a $14 price target. The firm said the upcoming VIKTORIA-1 trial readout for Celcuity’s gedatolisib could act as a positive catalyst for mutant-selective inhibitors such as RLAY’s zovegalisib. Oppenheimer expects the VIKTORIA-1 results to fall short of expectations. He noted that anything below a “teenage” median progression-free survival for the gedatolisib triplet would establish a competitive benchmark that RLAY’s zovegalisib-based regimen could surpass.
Regarding Zovegalisib, Relay Therapeutics, Inc. (NASDAQ:RLAY) presented a subset of results from interim clinical data for the drug at the 2025 San Antonio Breast Cancer Symposium on December 12, 2025. Zovegalisib and fulvestrant together produced a median progression-free survival of 11.4 months in second-line patients in the ReDiscover first-in-human trial. Despite substantial prior treatment, efficacy was consistent across several patient subgroups.
Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicine company using advanced computational and experimental technologies to accelerate drug discovery. Its Dynamo platform targets previously intractable protein targets to develop small-molecule therapies, primarily in precision oncology and genetic diseases.
12. KalVista Pharmaceuticals, Inc. (NASDAQ:KALV)
Number of Hedge Fund Holders: 27
Stock Price: $15.14
KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) is placed twelfth on our list.
TheFly reported on January 29 that TD Cowen analyst Stacy Ku raised its price target on KALV to $35 from $30 and maintained a Buy rating. The adjustment followed an update to the firm’s financial model ahead of KALV’s upcoming fourth-quarter results.
Additionally, earlier on January 9, H.C. Wainwright analyst Andrew Fein also raised the price target on KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) to $37 from $27 and maintained a Buy rating. The firm said its confidence is supported by the company’s reported fiscal 2025 EKTERLY revenue, which reinforces the view that an oral treatment is likely to become the preferred on-demand therapy for hereditary angioedema.
KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) is a clinical-stage biopharmaceutical company developing small-molecule protease inhibitors to treat rare and serious diseases, including hereditary angioedema and diabetic macular edema. The company focuses on oral and targeted therapies designed to improve patient outcomes and quality of life.
11. MiMedx Group, Inc. (NASDAQ:MDXG)
Number of Hedge Fund Holders: 28
Stock Price: $5.15
MiMedx Group, Inc. (NASDAQ:MDXG) is next on our list of best biotech stocks.
TheFly reported on January 23 that Craig-Hallum analyst Chase Knickerbocker lowered the price target on MDXG to $10 from $13 and maintained a Buy rating. The revision followed recent CMS guidance on provider billing and the withdrawal of the local coverage determination, which the firm expects to create provider confusion and pressure wound care volumes in the first quarter of 2026. Craig-Hallum consequently lowered its near-term volume expectations and extended expected share gains over a longer time frame, anticipating sequential Q1 growth in the single-digit range.
Similarly, on January 20, Northland Securities also lowered its price target on MiMedx Group, Inc. (NASDAQ:MDXG) to $10 from $12 and maintained an Outperform rating. Although the firm still anticipates longer-term market share gains in wound care and consistent double-digit growth in the surgical recovery segment, the adjustment represented changes to Northland’s FY2026 and FY2027 forecasts to account for near-term uncertainty associated with CMS’s flat-rate coverage for skin substitutes.
MiMedx Group, Inc. (NASDAQ:MDXG) is a U.S. biomedical company that develops and distributes advanced placental tissue allografts for wound care, surgical, and burn applications. It’s products, using proprietary processing methods, help clinicians treat chronic and hard-to-heal wounds.
10. Legend Biotech Corporation (NASDAQ:LEGN)
Number of Hedge Fund Holders: 28
Stock Price: $17.85
The tenth stock on our list is Legend Biotech Corporation (NASDAQ:LEGN).
TheFly reported on January 22 that H.C. Wainwright lowered LEGN’s price target to $50 from $60 but kept a Buy rating, noting Q4 Carvykti sales of $555M missed the $582M consensus. They view the recent pullback as a buying opportunity and highlighted Carvykti’s curative potential.
Similarly, a day earlier on January 21, TD Cowen downgraded Legend Biotech Corporation (NASDAQ:LEGN) from Buy to Hold and cut the price target to $21 from $62. The firm said Carvykti’s Q4 sales of $555 million versus the $582 million consensus reflected holiday seasonality but also indicated sluggish demand, which is influenced by toxicity concerns and growing competition. These factors have slowed adoption in the community and limited uptake even in academic centers.
Legend Biotech Corporation (NASDAQ:LEGN) is a global biotechnology company focused on developing and commercializing advanced cell therapies, especially CAR‑T treatments for cancer, like CARVYKTI for multiple myeloma. It collaborates with partners like Johnson & Johnson and builds end‑to‑end capabilities from discovery to manufacturing to expand therapeutic impact.
9. Ardelyx, Inc. (NASDAQ:ARDX)
Number of Hedge Fund Holders: 30
Stock Price: $7.86
Ardelyx, Inc. (NASDAQ:ARDX) is next on our list.
TheFly reported on January 29 that TD Cowen raised its price target on ARDX to $13 from $10 while maintaining a Buy rating. The adjustment followed an update to the firm’s financial model ahead of the ARDX’s fourth-quarter results.
Additionally, on January 27, Jefferies also raised its price target on Ardelyx, Inc. (NASDAQ:ARDX) to $15 from $8 and maintained a Buy rating. The firm highlighted the company as one of the most underrated biotech launches and underlined sustained execution on Ibsrela in 2026, along with potential upside from IBS-C, new CIC indications, and extended intellectual property. Peak sales are now projected at $1.5–$2 billion by 2035, with additional upside if the new 2041 formulation patent proves defendable.
Ardelyx, Inc. (NASDAQ:ARDX) is a biopharmaceutical company focused on developing and commercializing first‑in‑class gastrointestinal and cardiorenal therapies. Its lead product, tenapanor, treats irritable bowel syndrome with constipation (IBS‑C) and chronic kidney disease‑related conditions.
8. CytomX Therapeutics, Inc. (NASDAQ:CTMX)
Number of Hedge Fund Holders: 31
Stock Price: $5.90
The eighth stock on our list of best biotech stocks under $20 is CytomX Therapeutics, Inc. (NASDAQ:CTMX).
TheFly reported on January 20 that Piper Sandler raised its price target on CTMX to $10 from $6.50, keeping an Overweight rating. The firm noted that Initial Phase 1 data for varsetatug maseatecan in heavily pretreated metastatic colorectal cancer showed a 28% overall response rate, 94% disease control rate, and 5.8-month median PFS. This quarter, updated data with possible dose-dependent benefits from around 100 patients across three treatment cohorts are anticipated.
Similarly, on the same day, Barclays analyst Etzer Darout also raised the price target on CytomX Therapeutics, Inc. (NASDAQ:CTMX) to $8 from $6 and maintained an Overweight rating. The imminent readout on colorectal cancer was mentioned by the firm as providing an attractive risk-reward profile.
CytomX Therapeutics, Inc. (NASDAQ:CTMX) is a clinical‑stage biopharmaceutical company that develops Probody therapeutics, condition‑activated antibody prodrugs designed to improve cancer targeting and reduce off‑tumor toxicity. Its pipeline includes innovative immuno‑oncology and targeted therapies aimed at enhancing safety and efficacy for solid tumors and other serious diseases.
7. Intellia Therapeutics, Inc. (NASDAQ:NTLA)
Number of Hedge Fund Holders: 31
Stock Price: $13.82
Intellia Therapeutics, Inc. (NASDAQ:NTLA) is positioned seventh on our list.
TheFly reported on January 28 that Baird raised its price target on NTLA to $7 from $4 while maintaining a Neutral rating. The firm updated its model following the FDA’s lifting of the clinical hold on the Nex-z hATTR-PN trial.
Similarly, on the same day, H.C. Wainwright analyst Mitchell Kapoor also raised the price target on Intellia Therapeutics, Inc. (NASDAQ:NTLA) to $25 from $15 and maintained a Buy rating. The firm noted that the FDA’s decision to lift the clinical hold indicates Nex-Z’s risks are manageable, though the market continues to price in “an existential threat,” and also increased its probability of approval for Nex-Z to 35% from 25%.
Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a clinical‑stage biotechnology company pioneering CRISPR‑based gene editing therapies to treat serious genetic diseases. The company uses its proprietary in vivo and ex vivo platforms and develops precision treatments aimed at providing durable, curative solutions, advancing multiple programs toward clinical impact while expanding the potential of gene editing.
6. Taysha Gene Therapies, Inc. (NASDAQ:TSHA)
Number of Hedge Fund Holders: 32
Stock Price: $4.48
Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is placed sixth on our list of best biotech stocks under $20.
TheFly reported on January 5 that Wells Fargo raised its price target on TSHA to $11 from $8 and maintained an Overweight rating. The firm credited the anticipated 2026 outperformance to the ongoing advancements in its primary Rett syndrome research, which are bolstered by the FDA’s approval of a favorable trial design last year.
Separately, on January 6, Taysha Gene Therapies, Inc. (NASDAQ:TSHA) reported progress on its TSHA-102 Rett syndrome program. The first patient in the REVEAL pivotal phase was dosed in Q4 2025, and the FDA authorized the use of ASPIRE trial data in the proposed BLA. With updated safety and efficacy data from REVEAL Part A due in H1 2026, TSHA plans to complete dosing in both studies by Q2 2026.
Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is a clinical‑stage biotechnology company that develops adeno‑associated virus (AAV)‑based gene therapies for severe monogenic diseases of the central nervous system, including Rett syndrome.
5. Janux Therapeutics, Inc. (NASDAQ:JANX)
Number of Hedge Fund Holders: 32
Stock Price: $13.95
The fifth stock on our list of best biotech stocks is Janux Therapeutics, Inc. (NASDAQ:JANX).
TheFly reported on January 20 that Clear Street downgraded JANX to Hold from Buy and lowered the price target to $12 from $32. The firm noted that the lack of clear durability signals from JANX007 and the absence of new data from JANX008 introduce material platform risk. The firm says that JANX also faces rising competitive pressure and an undefined path for JANX007, which increases execution risk.
Recently, on January 22, Janux Therapeutics, Inc. (NASDAQ:JANX) and Bristol Myers (NYSE: BMY) announced an exclusive worldwide license and collaboration agreement to develop a novel tumor-activated therapy that targets a solid tumor antigen that has been validated. The agreement states that once JANX completes preclinical development through IND filing, Bristol Myers will hold the IND and supervise global development and commercialization.
In addition to tiered royalties on global sales, JANX is qualified for up to $50 million in upfront and near-term milestones, as well as later development, regulatory, and commercial milestones totaling over $800 million. JANX will support the first Phase 1 clinical investigation.
Janux Therapeutics, Inc. (NASDAQ:JANX) is a clinical‑stage biotechnology company that develops novel immunotherapies that activate innate and adaptive immune responses to treat cancer. Its pipeline focuses on engineered cytokine and receptor‑targeted therapies designed to enhance antitumor activity with improved safety.
4. Kura Oncology, Inc. (NASDAQ:KURA)
Number of Hedge Fund Holders: 34
Stock Price: $8.04
One of the twenty stocks on our list of best biotech stocks is Kura Oncology, Inc. (NASDAQ:KURA).
TheFly reported on January 13 that Leerink Partners lowered the price target on KURA to $20 from $25 and maintained an Outperform rating. This revision reflects updates to the model incorporating preliminary Q4 financial results, which include Komzifti’s net product revenue, collaboration revenue, and 2026 guidance ahead of the company’s Q4 earnings report.
In addition, Kura Oncology, Inc. (NASDAQ:KURA) disclosed on January 11 that KOMZIFTI (ziftomenib) generated $2.1 million in net product sales during the first five weeks of commercial availability, which ended on December 31, 2025. The first oral menin inhibitor approved for use once daily in patients with refractory or relapsed NPM1-mutated acute myeloid leukemia (AML) is called KOMZIFTI.
The business recognized advancements in all of its TSHA-102 development programs and outlined anticipated 2026 milestones. These accomplishments included expanding ziftomenib into combination regimens and non-AML indications, increasing the commercial usage of KOMZIFTI, and progressing current AML clinical investigations.
Kura Oncology, Inc. (NASDAQ:KURA) is a clinical‑stage biopharmaceutical company discovering and developing targeted therapies for cancer and hematologic malignancies. Its pipeline includes precision small‑molecule inhibitors aimed at key oncogenic drivers, to deliver effective, well‑tolerated treatments that improve patient outcomes in genetically defined cancer populations.
3. MoonLake Immunotherapeutics (NASDAQ:MLTX)
Number of Hedge Fund Holders: 35
Stock Price: $16.25
MoonLake Immunotherapeutics (NASDAQ:MLTX) is the next stock on our list.
TheFly reported on January 14 that Goldman Sachs downgraded MLTX to Sell from Neutral and set a price target of $10, up from $8. The firm noted that sonelokimab’s advancement into Phase 3 for palmoplantar pustulosis provides an additional opportunity, but it continues to view significant approvability risk in hidradenitis suppurativa. Given VELA-2’s failure to meet its primary endpoint, Goldman Sachs does not believe the FDA’s procedural guidance meaningfully reduces approval uncertainty.
Separately, earlier this month, on January 9, H.C. Wainwright raised the price target on MoonLake Immunotherapeutics (NASDAQ:MLTX) to $32 from $26 and maintained a Buy rating. The firm noted that the outcome of the FDA Type B meeting provides a defined path toward regulatory registration.
MoonLake Immunotherapeutics (NASDAQ:MLTX) is a clinical‑stage biopharmaceutical company that develops revolutionary Nanobody therapies to treat inflammatory skin and joint diseases. Its primary asset, sonelokimab, targets IL‑17A and IL‑17F to reduce inflammation in disorders like hidradenitis suppurativa and psoriatic arthritis.
2. Nurix Therapeutics, Inc. (NASDAQ:NRIX)
Number of Hedge Fund Holders: 40
Stock Price: $17.87
Nurix Therapeutics, Inc. (NASDAQ:NRIX) is placed second on our list.
TheFly reported on January 29 that Stifel raised the price target on NRIX to $35 from $33 and maintained a Buy rating. The firm noted that 2026 will be a key year for bexobrutideg as management progresses two registrational trials and provides additional Phase 1 updates.
In contrast, on the same day, Wells Fargo lowered the price target on Nurix Therapeutics, Inc. (NASDAQ:NRIX) to $29 from $30 and maintained an Overweight rating. The firm points out that even in the absence of clinical triggers in 2026, the shares are still cheap and could increase in the second half of the year before significant catalysts in 2027.
Nurix Therapeutics, Inc. (NASDAQ:NRIX) is a biopharmaceutical company that develops targeted protein modulation therapies using its proprietary DELigase platform. NRIX focuses on ubiquitin signaling pathways in order to develop degraders and small-molecule programs for immunology and oncology illnesses and develops precision medicines to address unmet medical needs and enhance patient outcomes.
1. Amicus Therapeutics, Inc. (NASDAQ:FOLD)
Number of Hedge Fund Holders: 45
Stock Price: $14.28
Amicus Therapeutics, Inc. (NASDAQ:FOLD) tops our list for being one of the best biotech stocks.
TheFly reported on January 22 that Jefferies downgraded FOLD to Buy from Hold and lowered the price target to $14.50 from $16. The company got substantial pharmaceutical takeover interest outside of BioMarin, according to proxy records, but Jefferies does not expect any more proposals.
Separately, last month on December 19, BioMarin announced that it will acquire Amicus Therapeutics, Inc. (NASDAQ:FOLD) for $14.50 per share in an all-cash transaction, valuing the company at approximately $4.8 billion. The acquisition adds two marketed therapies that are Galafold for Fabry disease and Pombiliti + Opfolda for Pompe disease, which generated $599 million in combined revenue over the past four quarters.
Amicus Therapeutics, Inc. (NASDAQ:FOLD) is a biotechnology company that us focused on developing and commercializing innovative treatments for rare and orphan diseases. Its pipeline includes therapies for genetic and metabolic disorders, such as Fabry disease, leveraging precision science and patient‑centric solutions to improve long‑term health outcomes.
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