The market is currently trading at record highs, boosted by the prospect of business-friendly tax reforms. According to JPMorgan quant guru Marko Kolanovic, a successful Republican tax overhaul will give equities a huge boost in 2018. “The upcoming reduction of US corporate tax rates may be one of the biggest positive catalysts for US equities this cycle,” says Kolanovic.
Bearing this in mind, we used TipRanks’ Top Stocks tool to see which ‘Strong Buy’ stocks are primed for a particularly strong performance. Top recommended stocks are based on a TipRanks developed formula, factoring in ratings made by the best performing analysts.
Crucially we sorted the stocks by upside potential to find stocks primed for growth.
The result: 10 top stocks with big support from the Street’s best analysts. These are the analysts that consistently crush the market. Here we look at the second set of these top stocks (for the first 5 click here):
1. Madrigal Pharmaceuticals Inc (Nasdaq: MDGL)
On December 5, Madrigal shares exploded from $46 to $87. Indeed, we can see from the screenshot below that the stock has climbed over 300% in the last three months. Luckily for investors, top analysts are confident that the stock still has serious growth potential ahead. With four buy ratings in the last two weeks, analysts believe MDGL can hit $135 (63% upside potential).
Madrigal has just released positive data from its phase II clinical trials for its lead NASH compound, MGL-3196. Roth Capital’s Yasmeen Rahimi called the interim results ‘remarkably positive.’ She says the company’s efficacy results are “by far the best” relative to its peers. As a result, Rahimi ramped up her MDGL price target from $82 all the way to $170. This translates into upside potential of over 100%.
Studies show that NASH, a chronic liver disease, affects approximately 15 million Americans. It can cause liver failure or cancer if left untreated. Some experts even predict it could become the leading cause of liver transplants by the next decade, creating a $35 billion market for NASH-targeted medicines. Note that you can click on the Top Stocks screenshot below for further stock insights.
Leave A Comment