With the market trading at record levels, it’s not so easy to find cheap stocks anymore. And by cheap we mean undervalued stocks with big upside potential ahead. Luckily TipRanks’ Top Analysts Stocks tool is here to help. With just a few clicks we can see the Street’s best-rated stock picks right now. Top recommended stocks are selected based on a TipRanks developed formula, factoring in ratings made by the best performing analysts.
And as for the cheap part- this tool also has that covered. By ordering the results by upside potential (see screenshot below), you can see which stocks have the most to climb. This upside potential means the difference between the current share price to the average analyst price target. As this is only based on ratings from the last three months, you can get a pretty good idea of each company’s outlook for the rest of 2018.
From the results, these 5 stocks really stood out. Let’s dive in now and take a closer look:
1. Iovance Biotherapeutics Inc (Nasdaq: IOVA)
This cutting-edge biotech is the only clinical-stage company advancing tumor infiltrating lymphocyte (TIL) technology. The company is conducting phase II clinical trials assessing TILs for multiple cancers including metastatic melanoma.
It also has five straight buy ratings and 37% upside potential from the current $17.70 share price. Chardan Capital’s Gbola Amusa (Profile & Recommendations) labels Iovance a ‘Top Pick for 2018’ explaining: “We reiterate our view on Iovance as a highly-differentiated company within the rapidly growing oncology-focused cell therapy sector”.
This five-star analyst adds “Positive clinical data for LN-144, coupled with the company’s robust and streamlined 22-day manufacturing process, leave the company poised for vast upside potential if 2018-2019 clinical catalysts play out”.
Indeed, his $30 price target indicates 69% upside potential from current levels. Bear in mind the stock has already surged 121% year-to-date.
