Which three under-the-radar stocks have both a Strong Buy analyst consensus rating and big upside potential? We looked for three top stocks (outside of the usual big-name tech stocks) which make compelling investing opportunities. One of these- biotech Gemphire Therapeutics- has upside potential of 145% for the next 12 months according to the Street.
TipRanks tracks analyst ratings on over 5,000 stocks. These ratings are then collated into an overall analyst consensus rating- be it Strong Buy, Moderate Buy, Hold, Sell etc. The result: you can use TipRanks powerful stock screener to filter for only stocks which have a bullish outlook from the Street right now.
Even better, analysts are ranked according to their success rate and average return so you can see what only the best analysts are recommending right now in terms of 1) the overall consensus rating and 2) the upside potential of the average 12-month price target from the current share price.
Bearing this in mind, let’s see what the Street has to say about the following three stocks:
Gemphire Therapeutics (NASDAQ:GEMP)
This little-known biotech stock has only received three buy ratings from top analysts in the last three months. However, these three analysts are all confident on one thing: that Gemphire has serious upside potential. The average analyst price target comes in 145% above the current share price.
Gemphire commercializes and develops therapies to help patients with cardiometabolic disorders, including dyslipidemia and NASH. Its lead product candidate- gemcabene – is a novel lipid-altering drug that has already been tested in 895 patients.
Canaccord Genuity analyst John Newman likes what he sees. He reiterated his buy rating on October 13 with a bullish $31 price target (225% upside potential). “Gemcabene is an underappreciated asset in the LDL-C, SHTG, and hsCRP lowering space. The drug’s extremely clean safety profile and meaningful efficacy will lead to eventual FDA approval, in our view, as well as success in Severe HyperTriGlyceride patients (SHTG)” says Newman. In fact, Newman is modelling $1.8B US peak sales for gemcabene in Severe Hyper Triglycerides alone.
