We recently compiled a list of the 12 NASDAQ Stocks with Biggest Upside Potential According to Analysts. In this article, we are going to take a look at where Geron Corp. (NASDAQ:GERN) stands against the other NASDAQ stocks.
Potomac Wealth Advisors president Mark Avallone joined CNBC’s ‘The Exchange’ on November 16 to discuss where he sees investing opportunities following Trump’s election. He believes investing in the tech sector makes the most sense given the implications of the 2024 election results for the financial markets. He noted that the election has shifted the underlying dynamics affecting businesses, particularly regarding regulation and taxation. The new administration has changed the previous climate of heightened regulation and discussions around increasing capital gains and corporate taxes. Avallone believes that the potential for reduced regulation and lower taxes on corporations could create a more favorable environment for business growth.
He emphasized that corporate America’s ability to deliver earnings will be crucial, relying on continued efficiencies and advancements in technology. This perspective supports his thesis that investing in technology remains a sound strategy for investors. When discussing specific stocks, Avallone highlighted major tech companies from the MAG7 as particularly attractive. He expressed confidence that the current administration would foster a more supportive environment for these companies, allowing them to thrive.
Avallone also touched on the defense sector, which has historically benefited from global conflicts. He pointed out that defense companies have shown resilience and believes that ongoing global tensions will sustain demand for defense stocks, providing a hedge against market volatility.
However, Avallone expressed caution regarding the healthcare sector, which has been lagging due to heavy regulation and political scrutiny. He noted that despite an aging population driving demand for medical equipment, regulatory pressures have hindered growth in this area. Overall, his analysis underscores a cautious optimism about investing in technology and defense while highlighting potential challenges within healthcare as businesses navigate the post-election landscape.
Methodology
We sifted through Finviz to compile a list of 30 NASDAQ stocks with high upside potentials. We then selected the 12 stocks with the biggest upside potential according to analysts. The stocks are ranked in ascending order of their analysts’ upside potential.
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).
A close-up of a laboratory technician in a laboratory, measuring a newly developed biopharmaceutical drug.
Geron Corp. (NASDAQ:GERN)
Average Upside Potential as of November 21: 85.87%
Geron Corp. (NASDAQ:GERN) is a biotechnology company specializing in developing and commercializing therapeutic products for cancer that inhibit telomerase, an enzyme linked to cell division and cancer proliferation. Its primary product, Imetelstat, is a first-in-class telomerase inhibitor to treat various blood cancers, including myelodysplastic syndromes and myelofibrosis.
The brand name for Imetelstat at the company is RYTELO. In the first full quarter of RYTELO’s launch in the US, which is Q3 2024, the company had $28.27 million in net product revenue, surpassing expectations by $9.26 million. This strong performance reflects both the significant unmet need in lower-risk MDS and RYTELO’s differentiated clinical profile, causing revenue to grow by 17,138.41% year-over-year.
RYTELO became available to prescribers on June 27 and the demand has steadily increased month-over-month, with 388 ordering centers representing ~45% of key targeted accounts. Its efficacy in improving red blood cell transfusion independence and hemoglobin levels is well-recognized by treating physicians. It’s also important to note that ~70% of US-covered lives have implemented medical coverage policies consistent with RYTELO’s FDA label.
Management anticipates potential EU approval for RYTELO in H1 2025, following a CHMP review expected to conclude in late 2024 or early 2025. It’s actively preparing for a potential launch in select EU markets starting in 2026. These efforts, combined with the company’s current financial performance position Geron Corp. (NASDAQ:GERN) to become an industry leader.
Overall GERN ranks 8th on our list of the NASDAQ stocks with biggest upside potential according to analysts. While we acknowledge the potential of GERN as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GERN 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. This article is originally published at Insider Monkey.
