Like achieving a hole-in-one, holding a tenbagger is one of the best results any investor could wish for. A term popularized by legendary investor Peter Lynch, these stocks are innovators with the potential to grow exponentially. Indeed, 10x stocks are market disrupters and innovators. And they create products people love.
Today, I’m on the hunt for three potential 10x stocks to result in a home run. To come up with the list, I screened for the following criteria:
- Small-mid cap stocks ($300 million to $10 billion market cap)
- Has a buy rating based on analyst consensus
- Minimum double-digit revenue growth year-over-year (YOY)
Then, I sorted all the stocks based on the lowest to highest upside potential. This ensures a focus on stocks growing their sales, favored by Wall Street analyst optimism.
Verve Therapeutics (VERV)
Verve Therapeutics (NASDAQ:VERV) is a clinical-stage biotech company. It develops new approaches to treating cardiovascular disease (CVD) by transforming treatments into single-course gene editing medicines.
The company collaborates with other biotech and pharmaceutical firms, like Eli Lilly. VERV transforms cardiovascular disease treatments and offer patients potential long-term benefits. Recently, it announced positive results for the VERVE-101 clinical trial. Also, the company continuously works to ensure the resolution of setbacks it encountered along the way.
In other news, promising data from its ongoing clinical trial Heart-1 Phase 1bl has been reported. It is its first human proof-of-concept for in vivo base editing, targeting the PCSK9 gene to reduce LDL-C levels in patients.
With a market cap of $535 million, analysts agree that VERV is worth looking at. A strong buy rating and a 524% upside mean if you’re looking for companies with high growth potential, VERV is an excellent candidate to 10x.
Revance Therapeutics (RVNC)
Known for DAXXIFY DaxibotulinumtoxinA-lanm, Revance Therapeutics (NASDAQ:RVNC) focuses on developing and commercializing neuromodulator aesthetic therapeutic indications.
Revance Therapeutics partnered with Viatris to commercialize DAXXIFY® in China and develop a biosimilar to onabotulinumtoxinA injection. The company has also previously announced its J-code permanent assignment to DAXXIFY® for treating cervical dystonia in adults.
Revance Therapeutics ended fiscal year 2023 on a strong footing. Revenue came in at $234.0 million, a 77% YOY growth. The company attributes this to increased RHA Collection and DAXXIFY sales, which saw 28% and 80% growth, respectively.
Moreover, Revance Therapeutics expects 2024 product revenue to grow to at least $280 million, highlighting its potential in the U.S. aesthetics market.
With its growing revenue and strong product numbers, it’s clear that analysts rate Revance Therapeutics as a strong buy with an upside of as much as 659%. So, if you are looking for 10x stocks, RVNC should be on your watchlist.
Caribou Biosciences (CRBU)
Popularly known in the biotech space for its patented chRDNA, CRISPR hybrid RNA-DNA technology, Caribou Biosciences (NASDAQ:CRBU) is a clinical-stage biopharmaceutical company. It specializes in developing transformative therapies for various high-profile diseases.
With its patented genome-editing platform chRDNA technology, Caribou Biosciences develops cell therapies that could improve patient antitumor activity. The company is expected to present its initial expansion data for the CB-010 ANTLER Phase 1 Trial in r/r B-NHL. The announcement will be made at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which could be another positive catalyst for its current pipeline.
Moreover, Caribou Biosciences’ latest financials relayed some milestones for the company, from dosing milestones in Phase 1 trials for B cell non-Hodgkin lymphoma (B-NHL) and acute myeloid leukemia (AML).
With a market cap of $339 million, Caribou Biosciences reported fiscal year 2023 revenue of $34.5 million, 140% higher YOY than its fiscal year 2022 revenue of $13.9 million.
In addition, CRBU boasts a strong financial position that could fund its operations. Cash and cash-related holdings worth $372.4 million are expected to last through Q1 of 2026.
With anticipated milestones for CB-010 and FDA recognition of its proprietary CRISPR genome-editing platform, analysts at Wall Street see this as a strong buy. Not only that, its potential upside of 696% could be a recipe for a worthy investment in CRBU stock.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
