2023-04-20 09:45:00 ET
After a dreadful 2022, growth stocks have started to rebound in 2023. The tech-heavy Nasdaq Composite has gained a healthy 15.4% so far this year. Still, scores of beaten-down tech and biotech stocks remain woefully undervalued right now. As a result, there is a surfeit of growth-oriented equities that analysts think could double -- or even quadruple -- in value this year.
For example, Wall Street analysts think small-cap biotechs Iovance Biotherapeutics (NASDAQ: IOVA) and Seres Therapeutics (NASDAQ: MCRB) could see a parabolic rise in their respective share prices in 2023. Here is what investors need to know about these two high-risk, high-reward growth stocks right now.
Iovance is an anti-cancer T-cell therapy company. The clinical-stage biotech recently completed the rolling Biologics License Application application to the Food and Drug Administration (FDA) for its lead product candidate, lifileucel, as a treatment for patients with advanced melanoma who progressed on or after prior anti-PD-1/L1 therapy and targeted therapy. The company expects to hear back from the agency by the fourth week of May in regard to whether it will accept the filing for review.
For further details see:
Wall Street Thinks These 2 Nasdaq Stocks Could Go Parabolic Soon