Investing

Three Analyst Stocks Projected to Double, or More

Every week at 24/7 Wall Street we see the research reports from many firms across Wall Street, and we are always sifting through the mounds of data looking for the stocks that Wall Street truly thinks could be the home run shots. Typically these are not the names they pound the table on as much, because price targets that are 100% to 300% and more higher than where the stock is trading sometimes seem like an analyst’s pipe dream. We do still find them though, and once again this week they are there for us to bring to our readers.

As a full disclaimer, these companies are all very speculative. They are only for aggressive investors, and suitable only for accounts that are very speculative and can sustain big price movements. In short, no widows and orphans.

With the caveats and risks in mind, each of these companies could have significant business prospects if they develop as each call has projected. These are the three analysts stock picks from Wall Street in recent days that were projected to have implied upside of 100% or more.

ALSO READ: Five Analyst Stock Picks With 100% or More Implied Upside

3D Systems Corp. (NYSE: DDD) makes the list of stocks with absolutely gigantic targets this week. Its 3D printers convert data input from computer-aided design generated software format or 3D scanning and sculpting devices to printed parts. 3D printing was a super-hot segment last year, and the top stocks were absolutely gutted during the early spring sell-off.

3D Systems is a very volatile stock, and we would quickly point out that hot and fast money jumps in and out of this faster than one can imagine. The analysts at Jefferies are convinced it is a huge winner and have a $102 price target for the stock. The Thomson/First Call consensus target is posted at $67.05.

Note though that 3D Systems is not without its critics. We just saw this week that skepticism was already brought up after the company’s investor presentation. Still, short sellers are far less active in the 3D sector now that the sell-off came. 3D Systems was trading at $49.40 late on Friday, against a 52-week range of $41.05 to $97.28.

Insmed Inc. (NASDAQ: INSM) provided a spring interim update from the CLEAR-110 study, an ongoing, two-year, open-label extension study of once-daily Arikace, or liposomal amikacin for inhalation, to treat Pseudomonas aeruginosa in cystic fibrosis patients. These data are from 98 patients who have completed the first 12 months of the CLEAR-110 extension study. The data were collected as part of a scheduled data safety monitoring board review of the CLEAR-110 extension study. The data showed that Arikace was well tolerated, and there was a sustained improvement from baseline level in Forced Expiratory Volume in One Second.

The analysts at Leerink expect an announcement regarding breakthrough status for the drug with huge upside, especially if no Phase 3 study is required. They have a $30 price target on the stock. The analysts at Piper Jaffray have an incredible, astronomical, $51 price target on the stock. In fact, we called the firm Friday to double-check that huge number, which they confirmed. The consensus figure is also a stunning $33.40. Insmed shares were at $12.12 late on Friday, and its 52-week range is $9.00 to $22.29.

ALSO READ: Five Top Restaurant Stocks That Are Hot Summer Buys

Orexigen Therapeutics Inc. (NASDAQ: OREX) received disappointing news recently when the FDA delayed approval of its obesity drug Contrave. In addition to its unique clinical profile targeting both overeating and depression, is the only one of the three obesity drugs that can be sampled, since it is not a scheduled drug.

Based on market research conducted by the company, the use of anti-obesity medications in the diabetic and pre-diabetic populations is expected to increase by four times over the next five years. The FDA has indicated that the review extension is needed to reach agreement on the post-marketing obligation related to the previously agreed upon evaluation of cardiovascular outcomes for NB32.

Orexigen’s new drug application (NDA) resubmission package includes interim safety and cardiovascular outcomes data from the ongoing 8,900-patient Light Study. This pushes out the expected outcome, which numerous firms on Wall Street still see as an approval. Leerink has $16 price target for the stock, and Merrill Lynch has a $12 price target. The consensus target is $11.63. Orexigen shares were at $5.76 late on Friday, against a 52-week range of $4.60 to $7.84.

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