Biotech stocks have been a hot topic in the investment world for several years now. With advancements in technology and an increased focus on healthcare, the biotech industry has experienced significant growth and innovation. As a result, many investors are turning to biotech stocks as a way to diversify their portfolio and potentially earn significant returns.
Here are three “Strong Buy” Biotech stocks from Wall Street –
Simulations Plus, Inc. – SYM: SLP
Recent Price: $41.42
Price Target: $61.50
Firms with Buy Rating: Raymond James, Oppenheimer, Craig-Hallum
Description: Simulations Plus, Inc. develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services.
Catalyst Pharmaceuticals, Inc. – SYM: CPRX
Recent Price: $17.55
Price Target: $23.33
Firms with Buy Rating: H. C. Wainwright, Piper Sandler, Cantor Fitzgerald
Description: Catalyst Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients. The company develops Firdapse for the treatment of MuSK antibody positive myasthenia gravis and spinal muscular atrophy type. It has license agreements with BioMarin Pharmaceutical Inc.; and collaboration and license agreement with Endo Ventures Limited for the development and commercialization of generic Sabril tablets. Catalyst Pharmaceuticals, Inc. was founded in 2002 and is based in Coral Gables, Florida.
Viridian Therapeutics, Inc. – SYM: VRDN
Recent Price: $25.80
Price Target: $47.20
Firms with Buy Rating: Wells Fargo, Needham, Jefferies
Description: Viridian Therapeutics, Inc., a biotechnology company, discover and develops treatments for serious and rare diseases. The company’s product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-002 and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED. It also provides VRDN-004, a discovery-stage therapeutic antibody program for rare disease; and VRDN-005 and VRDN-006, a preclinical program for autoimmune disease. The company was formerly known as Miragen Therapeutics, Inc. and changed its name to Viridian Therapeutics, Inc. in January 2021. Viridian Therapeutics, Inc. is headquartered in Waltham, Massachusetts.