1. Affimed N.V. (NASDAQ:AFMD)
Upside potential as of November 15: 359.77%
Affimed N.V. (NASDAQ:AFMD) is a biopharmaceutical company in the clinical stage. The business is involved in the discovery and development of immunotherapies that target cancer. AFMD tops our list of the best German stocks.
The company’s product candidates are being developed in the field of immuno-oncology, which is a cancer treatment technique that aims to combat tumor cells by using the body’s immune system. Based on its fundamental technology, it is actively involved in the discovery, pre-clinical, and clinical development of antibodies. The company is well-known for its in-house ROCK platform, which produces innate cell engagers (ICE) that target solid and hematologic malignancies.
Affimed N.V. (NASDAQ:AFMD) generates revenue by providing research and development services to outside parties using intellectual property that is controlled by both the Group and other parties. Geographically, the United States is where it generates the majority of revenue, although it is also present in Germany.
In Q3 2024, cash, equivalents, and investments totaled €24.1 million ($25.5 million), with a cash runway predicted into the fourth quarter of 2025.
H.C. Wainwright analyst Swayampakula Ramakanth kept his Buy recommendation for Affimed N.V. (NASDAQ:AFMD) at $10.00 on November 15, 2024. The rating of Swayampakula Ramakanth is based on several encouraging improvements at the company. The forthcoming clinical data updates for AFM24, especially as a treatment for non-small cell lung cancer, are an important reason for optimism. It is anticipated that these updates will provide remarkable response rates and progression-free survival metrics. In comparison to existing standards, the continuing investigations have already shown positive results, suggesting the possibility of great performance in subsequent phases.
Furthermore, the encouraging outcomes of the LuminICE-203 research in Hodgkin lymphoma underline the revolutionary possibilities of Affimed N.V. (NASDAQ:AFMD)’s combination treatments, paving the way for important breakthroughs and collaborations.
While we acknowledge the potential of Affimed N.V. (NASDAQ:AFMD), our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AFMD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None. 10 Best German Stocks To Buy Now is originally published on Insider Monkey. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
