In this piece, we will take a look at the Top 5 Growth Stocks in Biotech. For more such companies, go to the Top 10 Growth Stocks in Biotech.
5. Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA)
Revenue Growth YOY: 471.24%
Headquartered in Bermuda, Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) is a biopharmaceutical company focusing on therapeutics for debilitating disorders. The company has developed Arcalyst (rilonacept), which is a medication used to treat recurrent pericarditis. Other products in the pipeline include Mavrilimumab for the treatment of giant cell arteritis and KPL-404 for the treatment of rheumatoid arthritis.
On March 1, 2023, David Nierengarten, an analyst at Wedbush, reduced his price target on Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) to $20 from $26 while keeping an Outperform rating on the company’s shares. The analyst believes that the shares are cheap at current levels, and the company has excellent commercial momentum on its side.
According to Insider Monkey’s database, 19 hedge funds held stakes worth $160 million in Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) in Q4 2022, compared to 13 funds in the prior quarter with stakes worth $140 million.
4. Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)
Revenue Growth YOY: 485.03%
Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) is a messenger RNA (mRNA) medicines company based in the United States. The company focuses on the development of therapeutics for infectious diseases and liver and rare respiratory disorders. The product pipeline of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) comprises LUNAR®-GSDIII for the treatment of glycogen storage disease (GSD) type III, a COVID-19 vaccine candidate LUNAR®-COV19, and LUNAR®-FLU for the treatment of seasonal and pandemic influenza.
According to Insider Monkey’s database, 9 hedge funds held stakes worth $73 million in Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) in Q4 2022, compared to 10 funds in the prior quarter with stakes worth $67 million.
3. Ascendis Pharma A/S (NASDAQ:ASND)
Revenue Growth YOY: 557.93%
Headquartered in Hellerup, Denmark, Ascendis Pharma A/S (NASDAQ:ASND) is a biopharmaceutical corporation. The company manufactures therapeutics to treat central nervous system disorders, endocrinology, growth hormone deficiency, diabetes, and infectious diseases. Ascendis Pharma A/S (NASDAQ:ASND) has developed Skytrofa, a medication for pediatric growth hormone deficiency. The company is also developing several other products for various adult and pediatric disorders, including TransCon hGH for growth hormone deficiency, TransCon PTH for adult hypoparathyroidism, and TransCon CNP for pediatric achondroplasia. Moreover, the pipeline also includes products for oncological disorders.
On February 16, 2023, the company announced its fourth quarter 2022 results. Revenue was reported at $24.44 million, exceeding market expectations by $4.22 million. Normalized EPS stood at $3.95, falling short of market estimates by $1.19.
As per Insider Monkey’s database, 33 hedge funds held stakes worth $2.3 billion in Ascendis Pharma A/S (NASDAQ:ASND) in Q4 2022, compared to 34 funds in the prior quarter with stakes worth $1.9 billion.
2. Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)
Revenue Growth YOY: 694.46%
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is a biopharmaceutical company based in the United States. The company focuses on the development of therapeutics for rare genetic disorders of obesity. Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) offers IMCIVREE® (setmelanotide) to treat pediatric and adult patients with monogenic or syndromic obesity.
On March 2, 2023, Whitney Ijem, an analyst at Canaccord, increased the price target on Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) to $56 from $52 while keeping a Buy rating on the company’s shares. According to the analyst, ongoing clinical studies are mainly progressing as planned, and this year is expected to witness a number of data catalysts.
According to Insider Monkey’s database, 19 hedge funds held stakes worth $559 million in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in Q4 2022, compared to 16 funds in the prior quarter with stakes worth $431 million.
1. Orchard Therapeutics plc (NASDAQ:ORTX)
Revenue Growth YOY: 1255.03%
Headquartered in London, United Kingdom, Orchard Therapeutics plc (NASDAQ:ORTX) is a biopharmaceutical company that develops gene therapies for severe life-threatening rare disorders. The company’s therapeutic approach seems to utilize the hematopoietic stem cells (HSCs) in the human body to permanently address the underlying factors of a genetic disorder through a single administration. The product pipeline of Orchard Therapeutics plc (NASDAQ:ORTX) consists of several products for the treatment of various neurodegenerative and immunological disorders.
On March 6, 2023, Orchard Therapeutics plc (NASDAQ:ORTX) announced its fourth quarter 2022 results. The company’s revenue stood at $6.99 million, surpassing wall street estimates by $1.67 million. The Normalized EPS was reported to be $0.06, beating market expectations by $0.15.
As per Insider Monkey’s database, 7 hedge funds held stakes worth $3.6 million in Orchard Therapeutics plc (NASDAQ:ORTX) in Q4 2022, compared to 8 funds in the prior quarter with stakes worth $7.8 million.
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