Five Analyst Stock Picks With 100% or More Implied Upside

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Every investor dreams of catching lightning in a bottle and picking that incredible stock that doubles or triples. Sometimes it is a well-known name that does it, and sometimes it is an unknown stock that becomes known. This past week we scoured our Wall Street coverage looking for analysts stock picks that have huge upside targets, and we were not disappointed.

24/7 Wall St. has found five stocks from different firms where the target is at least 100% higher than the current price. A word of caution, these stocks are very volatile and only suitable for very aggressive, risk tolerant accounts.

CytRx Corp. (NASDAQ: CYTR) is a top small cap name. Its oncology pipeline includes two programs that are in clinical development for cancer indications. The aldoxorubicin is in pivotal Phase 3 preparation ongoing stage of development for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy.

CytRx recently announced updated results from its ongoing multicenter, randomized, open-label global Phase 2b clinical trial investigating the efficacy and safety of aldoxorubicin compared with doxorubicin as first-line therapy in subjects with metastatic, locally advanced or unresectable soft tissue sarcomas — significantly increasing progression-free survival at six months, overall response rate and tumor shrinkage, compared to doxorubicin, the current standard-of-care, as a first-line treatment in patients with STS.

CytRx’s potential for this drug is huge, and investors could see a big payback if the research comes to fruition. Aegis Capital has a $12 price target on this red-hot name, and the H.C. Wainwright target is at $10. The Thomson/First Call consensus price target is $11. CytRx shares were trading at $4.41 midday Friday.

ALSO READ: RBC’s Top Stock Picks for June

EnteroMedics Inc. (NASDAQ: ETRM) has a huge binary event scheduled for June 17. An FDA panel will discuss its neuroblocking device that is used to help in the treatment for obesity. At an FDA panel, companies meet with assembled experts and usually with the aim of presenting positive clinical trial information and data. Typically then the panel will vote up or down on the drug or product. This is not to be confused with FDA approval meeting. Typically, FDA officials will take the panels’ recommendations under consideration, but even if the vote is negative, it does not mean approval will not happen.

Regional boutique firm Craig-Hallum is bullish on EnteroMedics and the company’s chances at the upcoming panel. The firm has a $6 price target on the stock, and the consensus target is $4.80. Shares were at $1.78 Friday afternoon.