In this article, we will take a look at the 12 stocks that will double in 2025.
The Fed’s Probable Path and its Impact on Earnings
A lot is happening in the market, especially within the growth sectors. The launch of DeepSeek has caused significant uproar across the tech market in the United States, and with key names reporting earnings this week, investors are uncertain about how the market is going to play out in 2025. On top of that, the question mark on the Fed’s future actions poses yet another blow to investor sentiment. On January 30, Jim Bullard, former St. Louis Fed president, joined Market Domination on Yahoo Finance to discuss his market thesis amid the Fed’s decisions to keep rates steady.
Bullard suggested that the Fed has been signaling a slowdown in the easing cycle for the past 90 days and that the current situation is not unexpected. Speaking of voting changes, Bullard stated that this decision was more like an open-shut case meaning that any voting changes would have made no difference in the decision to keep rates steady. While some regard the Fed’s decision of a 100 basis point cut as hasty and “too much”, Bullard remains persistent that it was the “right call” and a step in the right direction.
As for the current policy rate, Bullard emphasized that the Fed is in great shape to keep rates steady and must wait for inflation data before any decisions have been made. He added that if inflation is sticky at where “it is right now” then a rate cut in 2025 is highly unlikely. On the flipside, he suggested that if inflation begins to rise again, the Fed may raise rates again.
Similarly, on January 29, Stuart Kaiser, head of US equity trading strategy at Citi, appeared in an interview on Yahoo Finance to shed light on the tech landscape and how the earnings may be impacted due to the Fed’s decision. Kaiser emphasized that the earnings season is very important, but the commentary of CEOs is more crucial at this point. He suggested, that CEOs will have to explain their capital expenditures and the value they expect to derive from these hefty expenses to garner positive investor sentiment.
While Kaiser is still positive about the sector, he stated that he is not an aggressive buyer and will likely remain cautious. He added that to circle back to buying into the sector, the need for market clarity is more crucial than ever, reiterating that commentary from CEOs is necessary. He also suggested that the DeepSeek development is huge for the AI market and puts pressure on only a handful of companies in the sector. While he remained cautiously bullish on the tech sector, he shared concern over utilities not being able to recover as much with a lack of incremental buying, despite having significant energy demand from AI use-cases.
Speaking of the Fed’s meeting, Kaiser suggested that the updated economic data has been in line with their forecasts, and while the decision matters, from a data perspective there is not much to say. Despite market volatility, some stocks are expected to perform exceptionally well in 2025 due to their exemplary positions in their respective industries. That said, let’s take a look at the 12 stocks that will double in 2025.
A financial analyst looking at a monitor displaying the stocks of the public company.
Our Methodology
We used similar rankings on the internet to come up with a list of names expected to double in 2025. We only focused on companies with a market cap of at least $2 billion. We then examined the analyst upside surrounding 25 stocks and picked the 12 stocks with an upside of at least 100%, as of January 29, 2025. We have also included the hedge fund sentiment around each stock, as of Q3 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
12 Stocks That Will Double in 2025
12. ImmunityBio, Inc. (NASDAQ:IBRX)
Analyst Upside as of January 29, 2025: 122%
Number of Hedge Fund Holders: 8
ImmunityBio, Inc. (NASDAQ:IBRX) is a biotechnology company working to develop therapies that enhance the immune system of patients, instead of weakening it. Since its inception in 2014, the company has become a clinical-stage biotechnology company with 27 clinical trials in process. Of these, 18 are in phase 2 and phase 3 trials. The company’s expansion strategy is exemplary. On January 29, ImmunityBio, Inc. (NASDAQ:IBRX) announced a collaboration with BeiGene on confirmatory phase 3 trials of Anktiva in non-small cell lung cancer. Similarly, on January 27, in an impressive feat, the company announced that the European Medicines Agency (EMA) had begun assessing the marketing authorization for IBRX’s start drug, Anktiva.
IBRX’s accelerating position in the biotechnology industry is prominent and is deriving the right attention from analysts and investors. On January 10, Justin Zelin, an analyst at BTIG, initiated the stock with a buy rating and a price target of $6. The company’s lead product Anktiva received approval following compelling response rates and durability results, explaining the thesis behind the rating. The analyst also believes that ImmunityBio’s (NASDAQ:IBRX) partnership with the Serum Institute of India for the development of recombinant BCG is an impressive approach to its long-term supply chain management.
Overall, IBRX boasts a solid growth opportunity evident from its product approvals and key strategic partnerships. This explains why analysts are bullish on the stock and their median price target of $8 points to an upside of 122%
11. Apogee Therapeutics, Inc. (NASDAQ:APGE)
Analyst Upside as of January 28, 2025: 123%
Number of Hedge Fund Holders: 21
Apogee Therapeutics, Inc. (NASDAQ:APGE) is a clinical-stage biotechnology company focused on treating immunological and inflammatory diseases. The company’s pipeline is vast, and it has the potential to treat various dermatological, respiratory, and gastroenterological conditions. Over the past few months, the company has accelerated trials for key drugs, participated in crucial conferences, and revealed important updates from trials.
For example, in its Q3 2024 earnings release, Apogee Therapeutics, Inc. (NASDAQ:APGE) announced positive results for the APG777 Phase 1 trial and revealed that the company was on track to release Phase 2 Part A data for APG777 in the second half of 2025. The company also announced that APG333 has the potential to offer top-notch efficacy across several respiratory conditions, marking a solid feat for the company’s growth potential. Similarly, APGE also advanced plans for combination studies, starting with the first clinical trial of the APG777 and APG990 combination in 2025.
By the end of the third quarter of 2024, Apogee Therapeutics, Inc. (NASDAQ:APGE) had $754 million in cash and cash equivalents, promising smooth operations into 2028. The company plans to continue building its portfolio with transformative therapies and with a supportive cash position, APGE indeed serves as an emerging leader in the biotech industry.
10. Banco Bradesco S.A. (NYSE:BBD)
Analyst Upside as of January 28, 2025: 125%
Number of Hedge Fund Holders: 22
Banco Bradesco S.A. (NYSE:BBD) ranks 10th on our list of stocks expected to double in 2025. The financial services company specializes in the provision of various financial and insurance services. Its banking segment offers various banking services and its insurance segment provides coverage for auto, health, life, accident, and property insurance lines. The company was founded in 1943 in Brazil and is now transitioning to becoming a digital financial services company. Over the past few months, the company has worked tirelessly to achieve this goal. For example, in the third quarter of 2024, Banco Bradesco S.A. (NYSE:BBD) closed down some of its physical branches to direct more resources to its digital banking services.
In addition to that, during the quarter, the company acquired a 20% share in the Santa Group. Moreover, during the same period, Banco Bradesco S.A. (NYSE:BBD) grew its revenue by controlling the cost of risk and optimizing its footprint, resulting in increased productivity for the firm. In an impressive feat, BBD generated R$16 billion in net interest income and R$5.2 billion in recurring net income. Overall, analysts are bullish on the stock and their median price target of $4.5 implies an upside of 125% from current levels.
9. Legend Biotech Corporation (NASDAQ:LEGN)
Analyst Upside as of January 28, 2025: 129%
Number of Hedge Fund Holders: 31
Legend Biotech Corporation (NASDAQ:LEGN) is a biotechnology company committed to delivering cutting-edge options for patients across the world. The company was founded as an early-stage cell therapy company in 2014 and is now a global commercial-stage company with several cell therapies in its portfolio. In the third quarter of 2024, its star drug, CARVYKTI, generated net trade sales worth $286 million, representing operational growth of 87.6% year-over-year, and 53.2% sequentially. During the quarter, the company also launched in Switzerland, received China’s NMPA approval for the treatment of fourth-line plus multiple myeloma, and announced plans to launch a cell therapy research and development facility in Philadelphia.
On January 23, Justin Zelin, an analyst at BTIG maintained a buy rating on Legend Biotech Corporation (NASDAQ:LEGN), retaining the price target of $91. Zelin gave a buy rating on the stock because of the company’s strategic partnerships. Specifically, the analyst pointed to its partnership with JNJ in 2024, resulting in prominent year-over-year growth for CARVYKTI. In addition to that, Zelin is particularly optimistic about the plans LEGN has outlined to meet future demand through capacity expansions in 2025. On the same day, analyst firm, Barclays assigned a buy rating to the stock with a price target of $49. Analysts are also bullish on the stock and their median price target represents an upside of 129%.
8. Immunovant, Inc. (NASDAQ:IMVT)
Analyst Upside as of January 28, 2025: 129%
Number of Hedge Fund Holders: 36
Immunovant, Inc. (NASDAQ:IMVT) is a biotechnology company that ranks eighth on our list of stocks expected to double in 2025. IMVT has a focus on developing advanced treatments for patients with autoimmune diseases. In the third quarter of 2024, the company announced that five investigational new drug applications cleared across several therapeutic areas and FDA divisions for its leading drug, IMVT-1402. During the quarter, the company also delivered proof of concept data from its batoclimb trial. In an interesting update, IMVT emphasized that it is on track to commence registration trials for IMVT-1402 across several indications by the end of March this year.
On January 27, JPMorgan analyst, Brian Cheng, maintained a buy rating on Immunovant, Inc. (NASDAQ:IMVT) with a price target of $46. The rating was based on the company’s recent and upcoming clinical developments. Cheng emphasized that IMVT is on track with its phase 3 trials for its key drug which will support the company’s core business model and mission. In addition to that, the analyst remained positive on the insights provided by the company in conferences, a factor boosting IMVT’s strategic position. Cheng also suggested that the company’s undervaluation in the thyroid and endocrine space boasts a solid growth opportunity, also giving it a first-mover advantage. Overall, 36 hedge funds held stakes in Immunovant, Inc. (NASDAQ:IMVT) at the end of Q3 2024.
7. Zeta Global Holdings Corp. (NYSE:ZETA)
Analyst Upside as of January 28, 2025: 133%
Number of Hedge Fund Holders: 31
Zeta Global Holdings Corp. (NYSE:ZETA) is a marketing platform backed by artificial intelligence. The company was founded in 2007 and offers an AI-powered marketing cloud to brands, agencies, and publishers to tackle the dynamic world of marketing. In January 2025 alone, ZETA made solid additions to its management by appointing big names in the industry, boosting its strategic position significantly. Analysts are also bullish on the stock and their median price target of $42 represents an upside of 133% from current levels.
On January 7, analyst firm, DA Davidson, kept a buy rating on Zeta Global Holdings Corp. (NYSE:ZETA) with a price target of $42. The firm also named ZETA as a top marketing software pick for 2025. The firm was compelled to give a buy rating because of ZETA’s strong operating results in 2024 supported by political tailwinds. In addition to that, DA Davidson believes that Zeta Global Holdings Corp. (NYSE:ZETA) can sustain a 20% year-over-year growth rate in the long run due to the opportunities it has with existing customers. Similarly, on January 16, Terry Tillman, an analyst at Truist Financial, reiterated a buy rating on ZETA with a price target of $42.
6. IDEAYA Biosciences, Inc. (NASDAQ:IDYA)
Analyst Upside as of January 28, 2025: 144%
Number of Hedge Fund Holders: 38
IDEAYA Biosciences, Inc. (NASDAQ:IDYA) ranks sixth on our list of stocks expected to double in 2025. IDYA is a clinical-stage precision medicine oncology company committed to the development of targeted therapeutics for patient populations using molecular diagnostics. In a solid update before the end of 2024, the company announced its exclusive license with Jiangsu Hengrui Pharmaceuticals Co., Ltd. to work towards the development and commercialization of SHR-4849, a phase-1 antibody drug.
On January 15, Justin Zelin, an analyst at BTIG, maintained a buy rating on IDEAYA Biosciences, Inc. (NASDAQ:IDYA) and a price target of $62. Zelin’s bullish stance on the stock is based on the company’s promising pipeline and strategic updates for 2025. The analyst believes these updates are crucial to the potential value IDYA can provide to the industry. Zelin is also optimistic about the company’s expanding datasets, possibly resulting in improved patient outcomes.
Overall, the company’s growing pipeline positions IDEAYA Biosciences, Inc. (NASDAQ:IDYA) as an emerging leader in the biotechnology industry, which is supported by its expansion strategies. Analysts are also bullish on the stock with a median price target of $58.5, an upside of 144% from current levels.
5. CleanSpark, Inc. (NASDAQ:CLSK)
Analyst Upside as of January 28, 2025: 145%
Number of Hedge Fund Holders: 16
CleanSpark, Inc. (NASDAQ:CLSK) is one of the stocks expected to double in 2025 with analysts posing an upside of 145% to its median price target of $25. The sustainable Bitcoin mining company owns and operates a solid portfolio of mining facilities across the United States. On January 6, the company reported that in the final week of 2024, CLSK increased its Bitcoin reserve, bringing the 2024 total to 7,025 BTC. In addition to that, in December the company sold 12.65 BTC, making up only 58% of the company’s average daily production. The sale brought in $12.3 million in proceeds.
On January 28, Mike Colonnese, an analyst from H.C. Wainwright, reiterated a buy rating on CleanSpark, Inc. (NASDAQ:CLSK) and maintained a price target of $27. The analyst gave a buy rating based on the company’s strategic position in Bitcoin mining. Colonnese suggested that the company’s strategy demonstrates resilience and growth with a focus on expanding to rural areas. He added that this coupled with CLSK’s experienced management makes it an emerging leader in the industry. The analyst is also happy with the company’s key metrics translating operational efficiency and sound financial performance.
4. Nebius Group N.V. (NASDAQ:NBIS)
Analyst Upside as of January 29, 2025: 155%
Number of Hedge Fund Holders: N/A
Nebius Group N.V. (NASDAQ:NBIS) runs an AI cloud platform capable of managing the most complex AI workloads. In an earlier update, on November 19, 2024, the company announced its decision to build its first NVIDIA GPU cluster in the United States, scheduled to be fully functional in the first quarter of 2025. As a result, NBIS has accelerated its expansion into the US by making more offices. In a very interesting update, on January 22, Nebius Group N.V. (NASDAQ:NBIS) introduced the general availability of leading open-source text-to-image AI models through its Nebius AI Studio, making a solid mark in the generative AI industry.
On January 28, Hamed Khorsand from BWS Financial maintained a buy rating on the stock with a price target of $51. The analyst highly regards the company’s ownership of critical AI hardware and architecture, positioning it as an emerging leader in the sector. The analyst also suggested that the recent developments with DeepSeek do not reflect the company’s true valuation and potential value. Khorsand is also confident in NBIS’s other business ventures, implying a diversified risk profile.
NBIS saw a surge in its stock price after a small decline following DeepSeek’s launch. Overall, the AI infrastructure stock is eyeing solid results from 2025. In the third quarter of 2024, Nebius Group N.V. (NASDAQ:NBIS) saw a 1.7 times increase in revenue from the previous quarter, primarily due to its AI infrastructure business.
3. Cosan S.A. (NYSE:CSAN)
Analyst Upside as of January 29, 2025: 161%
Number of Hedge Fund Holders: 11
Cosan S.A. (NYSE:CSAN) is a natural gas distribution company that produces bioethanol, sugar, and energy. The company’s portfolio consists of 35 bioenergy parks, 14km of railway lines, 306 million hectares of land across 8 states, and a 25 million kilometers gas distribution network. CSAN also has a production capability of 3 billion liters of ethanol and a crushing capacity of 105 million tonnes of sugarcane across its 35 bioenergy complexes. The company is among the largest fuel distributors of fuel and producers of ethanol in Brazil.
Over the past few months, the company has shown incredible resilience against uncertain macroeconomic conditions, generating R$293 million in net income in the third quarter of 2024. To tackle market volatility and high future interest rates, the company has shifted its focus on managing its debt effectively and prioritizing strategic projects. To manage and reduce its gross debt, Cosan S.A. (NYSE:CSAN) eliminated amortization between 2024 and 2026. The company ended the quarter with results in line with its plans for the fiscal year and is actively implementing strategies to improve its financial position in 2025, explaining why analysts are bullish on the stock. Analysts’ median price target of $13.55 represents an upside of 161% from current levels.
2. PACS Group, Inc. (NYSE:PACS)
Analyst Upside as of January 29, 2025: 184%
Number of Hedge Fund Holders: 32
PACS Group, Inc. (NYSE:PACS) ranks second on our list of stocks expected to double in 2025. The managed healthcare company was founded in 2013 commencing operations with two skilled nursing facilities. Today, the company has more than 314 facilitates, and over 40,000 employees, in more than 17 states that serve nearly 30,000 patients and residents daily. PACS offers patients post-acute care facilities, professionals, and ancillary healthcare services.
Aligning with its expansion plan, on December 5, 2024, PACS Group, Inc. (NYSE:PACS) completed the acquisition of 11 skilled nursing facilities in Tennessee, comprising 1,310 nursing beds. In the first quarter of 2025, the company is expected to acquire its 12th nursing facility. Since October 31, 2024, PACS has acquired 38 nursing facilities, adding 4,700 skilled nursing beds to its complete portfolio. This explains why analysts are bullish on the stock. Analysts’ median price target of $40 implies an upside of 184%. At the end of Q3, 32 hedge funds held stakes in PACS Group, Inc. (NYSE:PACS).
1. Globalstar, Inc. (NYSE:GSAT)
Analyst Upside as of January 28, 2025: 187%
Number of Hedge Fund Holders: 17
Globalstar, Inc. (NYSE:GSAT) is a telecommunications company that provides reliable and portable satellite communication solutions allowing people to stay connected even in remote areas. GSAT serves several industries including the government, transportation, energy, construction, commercial maritime, agriculture, and forestry industries. To expand its coverage, the company has spent the past few months forging key partnerships. For instance, on January 7, Globalstar, Inc. (NYSE:GSAT) announced a strategic partnership with Peiker Holding GMBH to provide satellite-based energy services and telematics capabilities to the automotive industry. This move will help GSAT make its mark in the European market.
In December, Globalstar, Inc. (NYSE:GSAT) held its investor day where the company provided updates to its key products and plans. As for its mobile satellite services, the company generated strong revenue from the segment with over 260,000 active subscribers contributing $44 million in annual service revenue for 2023. In addition to that, through its technologies, GSAT orchestrated over 10,000 rescues in 2024 and is currently serving nearly 481,000 average active devices through its commercial IoT segment.
Overall, Globalstar, Inc. (NYSE:GSAT) celebrates a diversified business model that can explain its financial success through 2024. In December, the company announced its 2025 revenue guidance which is expected to range between $260-$285 million driven by incremental strategic investments and growth plans.
While we acknowledge the potential of GSAT to grow, our conviction lies in the belief that certain 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 GSAT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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