Going into Q4, investors want to know which stocks are set to take flight. We are talking about stocks with serious growth prospects here, or names that can more than double investors’ returns in the next year. While looking for “strong buy” stocks with monster long-term growth potential isn’t a new concept, finding them is often easier said than done.
That’s why I suggest turning to Wall Street pros. Using ’ investment tools, I gained access to market data such as analyst ratings and price targets that let me narrow down the seven stocks that are best positioned to deliver massive rewards.
Not only does each have over 100% upside potential from the current share price, but all seven of the following tickers are among the Street’s most loved stocks with “Strong Buy” consensus ratings. This consensus rating is generated by factoring in all of the calls published by analysts over the last three months.
Here are the seven “Strong Buy” stocks with triple digit growth prospects.
Harvest Health & Recreation (HRVSF)
Based in Arizona, Harvest Health & Recreation (OTHER OTC:) is a medical cannabis company specializing in cultivation and production. On top of this, HRVSF is one of the leading multi-state dispensary operators in the U.S. Despite taking a serious beating over the last six months, recent acquisitions could fuel significant growth for the company.
While HRVSF already has licenses to operate more than 210 manufacturing, cultivation and retail facilities throughout the U.S. and boasts 135 dispensary licenses, it updated investors in September regarding its plans to further expand its footprint.
HRVSF currently has three deals in progress. The acquisitions of California-based Falcon International, Verano Holdings in Chicago and CannaPharmacy should all be finalized by the end of the year, according to management. Beacon’s believes that these expansion efforts could provide the lift that HRVSF shares need.
“Harvest is testing the bottom end of the downward trend channel that began in March/April, which could prove to be a meaningful support level. Should this support hold, there is little obvious resistance before $6.60 per share, allowing for a potential 25-30 per cent run,” he explained. As a result, the analyst reiterated his Buy rating and $20 price target, implying 625% upside potential.
With only Buy ratings assigned in the last three months, the word on the Street is that HRVSF is a Strong Buy. Its $16 average price target brings the upside potential to a whopping 490%. .
Nabriva Therapeutics PLC (NASDAQ:) is a commercial-stage biopharmaceutical company looking to find treatments for serious infections using anti-infective agents.
Its Lefamulin (Xenleta) drug, the first antibiotic of its kind for intravenous and oral administration in humans, received FDA approval to treat community-acquired bacterial pneumonia (CABP) back in August. The drug then became available in the U.S. the following month. CABP is the leading cause of infection-related deaths and causes the second-most hospitalizations in the U.S. Not to mention a decision regarding the approval of NBRV’s second candidate, Contepo, an antibiotic for urinary tract infections, is expected in mid-2020.
The company’s solid progress with respect to both therapies prompted a wave of analysts to issue bullish recommendations. One of these analysts, Wedbush’s , tells investors that recent positive developments haven’t been baked into the share price.
“With recent favorable changes to the reimbursement landscape and a clear plan in place for lefamulin commercialization, plus clarification around second asset CONTEPO NDA resubmission timelines, we believe NBRV shares are currently undervalued,” he commented. With this in mind, the four-star analyst kept his Buy rating and $8 price target. Arce notes that he sees 332% upside potential for NBRV.
Other Wall Street analysts appear to mirror the analyst’s sentiment. Five Buy ratings and no Holds or Sells issued in the last three months give the stock a Strong Buy Street consensus. Additionally, the $9 average price target puts the potential twelve month gain at 370%. .
Sundial Growers (SNDL)
Sundial Growers Inc. (NASDAQ:) is a rising star in the cannabis space. With the Alberta-based cannabis producer launching a new recreational brand in October, some analysts believe SNDL’s future will be lit.
Barclays analyst argues that the company’s focus on profitable growth makes it a stand-out in the industry, citing its new products and M&A activity as points of strength. Its new Palmetto brand, which will be available exclusively in the Saskatchewan and Manitoba provinces until the end of the year, and new vape pens could drive substantial sales.
On top of this announcement, SNDL acquired Bridge Farm back in July in order to expand its product offerings. Thanks to this deal, the company will gain access to Bridge Farm’s three growing facilities. Using these facilities, SNDL will cultivate hemp to go towards its goal of producing and selling high-quality CBD products worldwide.
Based on this deal, Lieberman highlights SNDL as having the potential to become a low-cost mass-scale CBD product producer.
Like Lieberman, Wall Street generally takes a bullish approach when it comes to SNDL. With a $12 average price target, the stock boasts impressive upside potential, 249% to be exact. .
Dynavax Technologies Corporation’s (NASDAQ:) primary focus is to develop and commercialize vaccines. Its first commercial product, Heplisav-B, was designed to prevent infection caused by all known subtypes of hepatitis B virus in adults. As the vaccine is already seeing success, it’s no wonder Wall Street is buzzing about this biopharma name.
This is evidenced by the four bullish ratings compared to no Holds or Sells received in the last three months. Not to mention, this Strong Buy’s $15 average price target suggests shares could soar 202% in the next twelve months.
One of the analysts backing DVAX is H.C. Wainwright’s . The analyst is forecasting significant sales growth for Heplisav-B based on the fact that 5.5 million doses of hepatitis B vaccines are administered per year in the U.S., with this figure expected to increase as both the number of people at risk as well as the awareness of the disease rises.
This reasoning played into White’s decision to initiate coverage with a Buy rating and set a $13 price target. At this target, the five-star analyst is confident in DVAX’s ability to climb 162% higher in the next year. .
With three top analysts giving Athenex (NASDAQ:) a vote of confidence in just the last three months, it’s a signal to investors that now is the time to keep an eye on this biopharma stock.
Best known for developing therapies to improve the lives of patients affected by cancer, the company has been on Wall Street’s radar as it recently announced promising results from its Phase 3 trial of Oraxol in patients with metastatic breast cancer. The data demonstrated not only an improvement in safety and tolerability, but also strong results in terms of efficacy and durability.
According to RBC Capital analyst , the data represents results that “approach a best case scenario.” He adds that based on his estimates, ATNX could see Oraxol reach peak sales of $1 billion in the U.S. and global sales of $1.5 billion. All of this lends itself to his conclusion that the biopharma is a Buy. Additionally, his $31 price target implies shares could gain 182% over the next twelve months.
Similarly, the rest of the Street likes what it’s seeing. As only Buy ratings have been published in the last three months, ATNX has earned a Strong Buy analyst consensus. Its $30 average price target also indicates 170% upside potential from the current share price. .
NuVista Energy (NUVSF)
NuVista Energy Ltd (OTHER OTC:) explores and develops oil and natural gas reserves in the Western Canadian Sedimentary basin. It primarily focuses on the Montney formation in the Alberta Deep Basin (Wapiti Montney). With the company demonstrating strong operational performance, analysts are telling investors to get on board.
In its most recent quarter, NUVSF was able to produce 50,390 Boe/d, up 14% from the preceding quarter and 40% from the year-ago quarter. Additionally, the company recently drilled and completed a four-well pad that includes three “C-zone” wells. Management stated that once these wells are brought to production in the third quarter, the energy company should see an even further improvement in production.
This prompted Credit Suisse analyst to take a bullish stance on NUVSF. The analyst also pointed out that NUVSF’s high volume growth within cash flows reflects the quality of its asset profile. As a result, Gupta set a $3 price target along with his rating. He believes that shares could surge 101% over the next twelve months.
With the last ten months seeing only Buy ratings assigned to the stock, it’s no question that analysts are in favor of NUVSF. It also doesn’t hurt that the Strong Buy’s $4 average price target implies 152% upside potential. .
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Farfetch Ltd (NYSE:) was made for fashion lovers everywhere, offering an online platform with products from boutiques and brands located throughout the world. Thanks to its 2.8 million marketplace consumers and $1.4 billion gross merchandise value in 2018, FTCH is making a name for itself within the online retail space.
While shares have certainly seen better days, the online retailer’s recent acquisitions could drive a turnaround. Back in August, FTCH broke the news of its $675 million New Guards Group acquisition, the parent company of Off-White, Palm Angels and Heron Preston. This follows its Stadium Goods acquisition at the end of 2018.
One analyst, BTIG’s , stated that while a complete turnaround isn’t expected this quarter, its promotionality should set the stage for an improvement in platform gross margins. “We are most confident on contribution margin as our promotions tracking indicates FTCH has delivered on its guidance for reduced activity in 3Q. Perhaps more importantly, we have continued to observe limited promotionality by FTCH thus far in October, auguring positively for the 4Q19 outlook as far as platform gross margin goes,” he explained.
Looking at the analyst consensus breakdown, it’s clear that other analysts are also picking FTCH as a long-term winner. Its Strong Buy consensus comes from the five Buy ratings and one Hold issued in the last three months. In addition, its $21 average price target puts the potential twelve month gain at 133%. .
offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities.
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