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After biotech stocks surged during Thursday’s trading session, Jefferies analyst Maury Raycroft assumed coverage on 6 biotech names he sees as undervalued.
While biotech stocks are extremely volatile, these stocks should present a longer-term growth opportunity for investors, according to Raycroft.
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6 Biotech Stocks At Buy
1. Abeona Therapeutics Inc (NASDAQ:ABEO); $22 price target.
“Abeona’s lead ABO-102 is on an expedited path to regulatory approval in MPS IIIA, and their EB gene therapy program is another shot on goal.”
2. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY); $102 price target.
“Optimally suited for approval in FAP with potential broader use; also, differentiated in hemophilia, acute hepatic porphyrias, and PCSK9 inhibition.”
3. Atara Biotherapeutics Inc (NASDAQ:ATRA); $30 price target.
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“On-track to start their ATA129 ph.IIIs in EBV-PTLD in 2H17, which will remove a major overhang, and we believe the trial also has a good chance to succeed.”
4. Intellia Therapeutics Inc (NASDAQ:NTLA); $36 price target.
“We see potential in diverse, large market disease areas. As NTLA continues to optimize translating their technology/platform to the clinic, we believe they will gain in value and appeal to larger biotech/pharma.”
5. Ignyta Inc (NASDAQ:RXDX); $27 price target.
“The drug has differentiated CNS activity, which we believe can make it a preferred agent in a proportion of ROS1 NSCLC pts.”
6. Sangamo Therapeutics Inc (NASDAQ:SGMO); $17 price target.
“Impressive showing at ASGCT positively influenced our view on the stock. Technology also has been recently validated by PFE, and they are in the lead developmentally with programs in the clinic.”
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.