In this article, we will list the 5 Affordable Biotech Stocks to Buy Right Now. Please visit 10 Affordable Biotech Stocks to Buy Right Now if you’d like to see an extended list and the methodology behind it.
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.
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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.
While we acknowledge the potential of VKTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VKTX and that has 100x upside potential, check out our report about the cheapest AI stock.
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