Top 10 Small-Cap Stocks with Highest Upside Potential

3. REGENXBIO Inc. (NASDAQ:RGNX)

Upside potential as of June 15th, 2024: 226.35%

Market Cap: $611.27 million

REGENXBIO Inc (NASDAQ:RGNX), is a clinical-stage biotechnology company involved in developing gene therapy to cure genetic defects and other serious metabolic, retinal, and neurodegenerative diseases. The company’s pipeline products include ABBV-RGX-314 for treating diabetic retinopathy, macular degeneration, and other debilitating retinal diseases; and RGX-202 which is in clinical trials for the treatment of Duchenne muscular dystrophy. Other products include RGX-121,111,181 and RGX 381 for treating various genetic defects.

Even though, the Rockville-based company reported a decline in revenue growth, both at the end of 2023 and in the first quarter of 2024. Yet, the analysts have maintained a very bullish stance on the REGENXBIO stock. The reasons for this stance might stem from the fact that the company reported a net loss lower than expected and their RGX-121 is on track for BLA filing to get approved for potential one-time gene therapy. Meanwhile, the initial data from the AFFINITY DUCHENE trial for RGX-202 shows high tolerance and high potential. Moreover, the anticipated filing and expected approval of RGX-121 for Hunter syndrome provides a commercial product with market potential.

The 11 analysts with 12-month forecasts for REGENXBIO, Inc. (NASDAQ:RGNX) have an average target of $40.5, with a low estimate of $21 and a high estimate of $55. The average price target predicts an upside potential of 226.35% from the current stock price of $12.41. Thus, Wall Street analysts have maintained a “strong-buy” rating on this stock.

According to the Insider Monkey database, REGENXBIO, Inc. (NASDAQ:RGNX), in Q1 of 2024, was held by 29 hedge funds with Redmile Group holding the largest stake at 4,551,556 shares valued at $95.9 million.