Prometheus Biosciences Inc.
YTD Gains: +175%
Prometheus is a clinical-stage biotech based out of San Diego, California, and it focuses on developing therapeutics and companion diagnostic products for the treatment of immune-mediated diseases. The company went public in early 2021 and its shares were listed on the Nasdaq in March 2021.
The bulk of the gains made this year came in early December, as the stock skyrocketed over 166% in reaction to positive Phase 2 data for its antibody treatment PRA023 in ulcerative colitis and Crohn’s disease.
The stock presents a roughly 31% upside, going by the average analysts’ price target of $142.22.
ADMA Biologics Inc.
YTD Gains: +158%
ADMA is a commercial biopharma that develops specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection, and others who are at risk for certain infectious diseases.
It currently markets three FDA-approved plasma-derived biologics. Earlier this month, ADMA preannounced fourth-quarter revenue that came in well ahead of the consensus. The company recently raised $69 million in gross proceeds from an equity offering.
The average analysts’ price target for the stock is $5, suggesting there exists an upside potential of about 38%.
CTI Biopharma Corp.
YTD Gains: +121%
CTI Biopharma is a commercial-stage biopharma focusing on the development and commercialization of targeted therapies for blood-related cancers. The company’s Vonjo has been approved for treating adults with intermediate or high-risk myelofibrosis, having low platelet count. Myelofibrosis is a rare bone marrow disorder that disrupts blood cell production.
In the third quarter, the product fetched a revenue of $18.2 million, up 48% from the previous quarter.
The FDA approval received in early March sparked off a rally in the stock that lasted through August. Since then, the stock has given back some of its gains.
The stock offers 88% upside potential based on the average analysts’ price target of $10.34.
Ardelyx Inc.
YTD Gains: +117%
Waltham, Massachusetts-based Ardelyx focuses on therapies to meet significant unmet medical needs. The company turned into a commercial-stage biopharma following FDA approval for its Ibsrela, which is indicated for irritable bowel syndrome with constipation in adults. The company began commercializing the product in April. In the third quarter, Ibsrela fetched a revenue of $4.9 million.
The stock has begun to pick up momentum in the second half of the year. In mid-November, it received a shot in the arm from a positive Adcom verdict for its Xphozah, which is being studied for the control of serum phosphorus in adult patients with chronic kidney disease on dialysis.
The average analysts’ price target for the stock is $6.53, suggesting a nearly 175% upside potential.
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