Top 10 Small-Cap Stocks with Highest Upside Potential

1. Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Upside potential as of June 15th, 2024: 451.59%

Market Cap: $490.64 million

Founded in 2017, Allogenic Therapeutics, Inc (NASDAQ:ALLO) is a clinical-stage immuno-oncology company focused on the development and commercialization of genetically engineered T-cell therapies for treating certain blood cancers and other tumors.

The analysts are very bullish about the potential of the San Francisco-based company, maintaining a “Buy” rating for the ALLO stock. This bullish view is partly because the Medical, Biomedical, and Genetics industries are seeing solid earning estimates, and often a rising tide will lift all the boats in an industry. Allogene Therapeutics is looking good on its own, with current estimates narrowing loss per share from $2.09 of the previous year to $1.52 by the end of 2024, indicating financial resilience and potential for growth.

Moreover, Allogene is set to initiate the first T-cell therapy targeting Large B-cell Lymphoma, representing innovation and leadership in the field of CAR-T therapy. Meanwhile, the acquisition of EU and UK rights for the Cema-cel expands the company’s market potential exponentially, increasing future revenue prospects.

The 12 analysts with 12-month precise forecasts for the ALLO stock have an average price target of $12.96, with a low estimate of $4.60 and a high estimate of $35. The average price target represents an upside potential of 451.49% from the current stock price of $2.35 making it the top small-cap stock to buy according to analysts.

By the end of Q1 of 2024, shares of Allogenic Therapeutics, Inc (NASDAQ:ALLO) were held by 18 hedge funds with Citadel Investment Group holding the largest stake of 3,113,225 shares valued at $13.916 million.

While we acknowledge the potential of Allogenic Therapeutics as an investment, 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 Allogenic Therapeutics but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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