While in 2023, healthcare lagged despite market optimism, the industry in 2024, is poised for a resurgence. With innovative breakthroughs like GLP-1 drugs and rising US prescriptions, healthcare offers enticing prospects for investors seeking growth.
Let’s explore three phenomenal healthcare stocks primed for a boom amid this broader turnaround.
Investing in healthcare? Look no further than Tonix Pharmaceuticals (NASDAQ: TNXP). As a micro-cap company, its potential is unmatched.
With a vast Total Addressable Market (TAM) in CNS therapeutics—projected to reach $159.84 billion by 2030—Tonix pretty much leads the charge.
Despite the complexity of CNS drug development, Tonix persists with promising candidates like TNX-102 SL for Fibromyalgia and TNX-1300 for Cocaine Intoxication. Moreover, with its strategic partnerships with renowned private and government institutions, its credibility is solid.
TNXP is trading close to its 52-week low, suggesting that now is the time to invest. Similarly, its projected EPS growth of 59% signals a lucrative opportunity for investors seeking staggering growth potential in healthcare.
NanoString Technologies Inc.
NanoString Technologies Inc. (NASDAQ: NSTG), a genomics and proteomics tools company, saw a surge in its share price despite weak earnings and guidance. Positive factors include management heavily buying shares, a partnership with Abcam, and a “Buy” rating from UBS. Despite shaky fundamentals and uncertainty, it’s poised for a significant upward correction, especially if Q4 does not disappoint.
BioXcel Therapeutics (NASDAQ: BTAI) presents a compelling healthcare pick despite recent challenges. Despite FDA investigation and financial concerns, BTAI’s BXCL501 drug shows promise in treating agitation, with upcoming FDA meetings offering potential regulatory clarity. Strategic financing negotiations and cost-cutting measures signal proactive management. With careful monitoring, BTAI’s undervalued stock offers growth potential.
In tomorrow’s healthcare investments, Tonix Pharmaceuticals shines with a robust CNS therapeutics pipeline. Its fundamentals and credibility both scream growth. The booming healthcare sector also offers other impressive gems such as NanoString Technologies and BioXcel Therapeutics.
As investors seek growth, these stocks stand out amidst innovation and potential prosperity in the biotech sector.
Disclaimer: The information contained in this article is for informational purposes only and should not be considered financial advice. Investing involves risk, and past performance is not indicative of future results. Please consult with a qualified financial advisor before making any investment decisions