High-Growth Stocks to Watch in the Coming Year
As we enter the final stretch of the year, investors are gearing up for the next 12 months by repositioning their portfolios. The key to success lies in identifying stocks with strong growth potential, and Bank of America has highlighted two promising picks that could deliver impressive returns.
Werewolf Therapeutics: A Biotech Stock with a Bright Future
Werewolf Therapeutics is a biotech company developing innovative immunotherapy drugs designed to reduce the severe side effects associated with cancer treatment. Its proprietary PREDATOR platform engineers conditionally activated molecules that stimulate both the adaptive and innate functions of the immune system. With two drug candidates in clinical trials, Werewolf is making significant strides in the fight against cancer.
The company’s lead drug candidate, WTX-124, has shown promising results in treating solid tumors, with a Phase 1 open-label, multicenter study currently underway. Despite a 47% drop in stock price this year, Bank of America analyst Jason Zemansky sees a prime buying opportunity, citing the stock’s “compelling near-term upside potential and opportunity on weakness.” With a Buy rating and a $10 price target, Zemansky predicts an impressive ~390% upside potential for the next 12 months.
Ibotta, Inc.: A Consumer Tech Stock with a Strong Growth Trajectory
Ibotta is a shopping rewards company that provides a direct-to-consumer app allowing users to claim cash-back rewards on online and in-person purchases. With a wide range of retailers participating, including major grocers and chains like Home Depot and Kohl’s, Ibotta is well-positioned for growth.
Following its IPO earlier this year, Ibotta’s stock has dipped by nearly 32%, but the company has initiated a $100 million share repurchase program to support the share price. Bank of America analyst Curtis Nagle sees Ibotta as a prime beneficiary of the growing focus on digital promotions, noting its “highly attractive alternative to other forms of marketing and promotions where ROAS is much more difficult to measure.” With a Buy rating and a $110 price target, Nagle predicts a ~64% share appreciation on the one-year horizon.
Conclusion
Both Werewolf Therapeutics and Ibotta, Inc. have earned Strong Buy analyst consensus ratings, with significant upside potential predicted for the next 12 months. As we head into the new year, these stocks are definitely worth keeping an eye on. To find more good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy tool.
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