10 High Growth Healthcare Stocks to Invest in Now

1. Moderna, Inc. (NASDAQ:MRNA)

Revenue Growth: 128.50% 

Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company that specializes in developing messenger RNA (mRNA) therapeutics and vaccines. The company’s primary focus is on creating mRNA-based medicines to treat and prevent various diseases, including infectious diseases, cancer, and rare genetic disorders.

The company revealed positive phase-one trial findings for mRNA-4359, a novel cancer vaccine, in September. The cancer vaccine, which is based on the same mRNA technology as its COVID-19 vaccine, is intended to assist the immune system in differentiating between healthy and malignant cells. Eight of the trial’s 19 participants with advanced solid tumors did not experience tumor progression or the emergence of new tumors. The biotech company claims that there were no significant negative effects and that the vaccination was well tolerated.

Moderna, Inc. (NASDAQ:MRNA) also reported impressive Q3 2024 financial results, largely driven by Spikevax, their COVID-19 vaccine, which generated 50% more revenue than anticipated. As one of the 10 high growth healthcare stocks to invest in now, the company recorded $13 million in net income and $1.9 billion in revenue. Moderna projects its annual product sales will continue to range between $3 billion and $3.5 billion.

Baron Health Care Fund made the following comment about Moderna, Inc. (NASDAQ:MRNA) in its Q1 2023 investor letter:

“Moderna, Inc. (NASDAQ:MRNA) is a leader in the emerging field of mRNA-based vaccines and therapeutics and was one of the three main producers of the COVID vaccine. Shares fell during the quarter. We believe as COVID shifts away from pandemic status and becomes an increasingly commercial market (rather than government funded), there is increasing investor uncertainty around what a booster market could look like, which is pressuring shares. Looking beyond COVID, we think Moderna has the potential to disrupt the biopharmaceutical industry, from infectious disease vaccines to oncology, and we remain shareholders.”

Overall, MRNA ranks first among the 10 high growth healthcare stocks to invest in now. While we acknowledge the potential of healthcare companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MRNA 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.

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