Identifying stocks that become significant winners is an easy task in hindsight, but predicting their success beforehand presents a unique challenge. Nonetheless, three Motley Fool contributors have pinpointed stocks that could emerge as monster winners in 2024. Let’s explore why CRISPR Therapeutics (NASDAQ: CRSP), Madrigal Pharmaceuticals (NASDAQ: MDGL), and Verona Pharma (NASDAQ: VRNA) have captured their attention.
- CRISPR Therapeutics: Pioneering Gene Editing for Rare Diseases
In the realm of gene editing, CRISPR Therapeutics, in partnership with Vertex Pharmaceuticals, achieved a milestone with the approval of Casgevy. This CRISPR-based gene-editing therapy addresses sickle cell disease and beta-thalassemia, earning the pioneers a Nobel Prize in chemistry.
Despite modest stock performance post Casgevy’s U.S. approval, CRISPR Therapeutics anticipates significant growth in 2024, fueled by the launch of this groundbreaking medicine, priced at $2.2 million in the U.S.
The company aims to establish a solid foundation for Casgevy’s long-term success over the next 12 months, involving collaborations with third-party payers and the activation of authorized treatment centers.
- Madrigal Pharmaceuticals: Rebounding and Eyeing FDA Approval
Madrigal Pharmaceuticals faced a dip in share value in 2023, but a rebound began in late October, indicating potential momentum for future growth.
Optimism surrounds Madrigal as it pursues FDA approval for resmetirom, a treatment for nonalcoholic steatohepatitis (NASH) by March 14, 2024, addressing a medical need with no existing FDA-approved therapies. aw aw aw aw aw aw aw aw aw aw
Well-positioned financially after a $500 million public stock offering, Madrigal is projected to achieve significant revenue with peak annual sales estimates ranging from $2.5 billion to $3 billion.
- Verona Pharma: High-Risk, High-Reward Play in COPD Treatment
Verona Pharma, despite financial uncertainties and no approved products, stands out with its investigational drug, ensifentrine, for chronic obstructive pulmonary disease (COPD).
Ensifentrine, demonstrating safety and efficacy in phase 3 trials, targets an estimated 380 million COPD patients globally, providing an alternative for dissatisfied individuals with current treatment options.
The FDA’s review of ensifentrine is set for June 26, 2024, and successful approval could transform Verona, potentially generating close to $1.5 billion in annual revenue by 2033.
While these stocks come with inherent risks, their potential for substantial gains in 2024 makes them compelling options for investors seeking growth opportunities. As always, thorough research and consideration of associated risks are recommended before making any investment decisions.