As 2024 is nearing its end, investors with a time machine are looking to visit December 2023 and take their long positions in Nvidia (NASDAQ: NVDA), Tesla (NASDAQ: TSLA), Super Micro Computer (NASDAQ: SMCI) – though with a sell order placed for April – and myriad Chinese stocks, again, with a sell order for October 1.
The rest of us are forced to make our stock picks without the benefit of either a crystal ball or hindsight: no small feat given that, despite the generally bullish outlook, the danger of a bubble or resurgent inflation hangs like the sword of Damocles above 2025.
Still, there are some ways to gauge which shares might be strong performers in the new year, and on December 26, Finbold decided to consult the collective wisdom of Wall Street analysts on which companies are expected to experience the most growth.
Picks for you
Cellectar Biosciences Inc (NASDAQ: CLRB)
While looking at the upside potential of penny stocks is something of a fruitless effort – no amount of expert optimism will make them more than high-risk bets – some are worth a mention for the sheer gap between their press time price and their 12-month target.
Among these, Cellectar Biosciences Inc (NASDAQ: CLRB) stands out as it not only boasts a ‘moderate buy’ consensus rating on the stock analysis platform TipRanks but the average forecast indicates a 2661.34% rally for CLRB in the coming 52 weeks.
Still, it is worth pointing out that the late-stage clinical biopharmaceutical company has done little other than decline in 2024 – it is down about 90% year-to-date (YTD) – and the bullish prediction is based on no more than three analyst ratings.
Moderna (NASDAQ: MRNA)
Though the pharmaceutical and biotechnology giant Moderna (NASDAQ: MRNA) lost much significance – and value as its stock is down more than 60% in 2024 – since the COVID-19 pandemic, analysts remain mostly optimistic about the company’s potential to recover and grow.
Such an outlook is reinforced by MRNA stock’s consensus price target, retrieved from TipRanks, which forecasts a 54.73% upside in the coming 12 months. Simultaneously, the risks associated with investing in Moderna on the eve of 2025 are also evident in the shares’ average ‘hold’ rating.
Royalty Pharma (NASDAQ: RPRX)
Royalty Pharma (NASDAQ: RPRX) is another healthcare stock that is somewhat down on its luck in 2024 as the year featured, after significant volatility, a 10% yearly drop in stock price.
Still, the high-risk, high-reward bet is viewed favorably by Wall Street experts as RPRX shares boast an average ‘strong buy’ rating on TipRanks and expect a 74.40% rally for the stock in the next 365 days.
Novo Nordisk (NYSE: NVO)
Following the trend of volatile health stock on the decline being favored by analysts, Novo Nordisk (NYSE: NVO) boasts a favorable ‘moderate buy’ rating on the stock analysis platform TipRanks, with experts, on average, expecting the NVO stock to rally 69.17% in the next 12 months.
Still, despite being only a relatively minor 14% in the red YTD, Novo Nordisk might be a high-risk play as part of its 2024 results were driven by the disappointing December results of the testing done for its latest obesity drug – a fact that could hold NVO shares down for some time.
Advanced Micro Devices (NASDAQ: AMD)
Moving to the otherwise strong sector in recent years, Advanced Micro Devices (NASDAQ: AMD) is a chipmaker that is both down on its luck at the end of 2024 and has no small amount of bullishness attached to it.
It is perhaps for this reason that AMD shares are seen as having an especially great upside potential, with the average forecasted 12-month price target standing 44.26% above the press time values near $125.
Featured image via Shutterstock
