3 Biotech Stocks to Double Your Money in the Next 24 Months

InvestorPlace05-07

Here are the top 3 biotech stocks to double your money by 2026. Vertex Pharmaceuticals (VRTX): The FDA approval of VX-548 could cause the stock to skyrocket in 2024. United Therapeutics (UTHR): ...

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However, investing in these companies requires a nuanced understanding of their pipelines, regulatory landscapes and market dynamics. \nIdentifying biotech stocks to double your money is certainly no easy feat. But looking at companies with late-stage drug approval potential and market dominance in their respective fields is a great start. While biotech investing can be classified as risky, there are many avenues to mitigate risks to protect your portfolio from market downturns. \nNow, here are the top 3 biotech stocks to double your money in the next 24 months!\nVertex Pharmaceuticals (VRTX)\nSource: Pavel Kapysh / Shutterstock.comVertex Pharmaceuticals (NASDAQ:VRTX) has solidified its position as the leader in the treatment of Cystic Fibrosis (CF). After closing out a strong 2023, Wall Street is becoming more excited about the company’s growing pipeline opportunities.\nVertex’s CF treatment is the company’s primary revenue driver, with its suite of drugs targeting the underlying cause offering life-changing results for its patients. The company’s flagship product, Trikafta, is a triple-combination therapy that’s approved for roughly 90% of CF patients. Vertex boasts a robust pipeline, positioning the company to accelerate revenue growth and profitability. This includes their recent FDA approval of Casgevy in collaboration with CRISPR Therapeutics, for the treatment of sickle cell disease. Additionally, they are on the verge of FDA approval for VX-548 for the treatment of acute neuropathic pain. This makes Vertex one of the best biotech stocks to double your money in the next 24 months.\nUnited Therapeutics (UTHR)\nSource: viewimage / Shutterstock.comUnited Therapeutics (NASDAQ:UTHR) stands out as one of the top biotech stocks to double your money. The company has largely flown under-the-radar, providing early investors a pathway to riches. \nUnited Therapeutics primarily focuses on areas addressing lung disease. They are commonly known for their novel treatment, Tyvaso, an inhaled therapy for pulmonary arterial hypertension (PAH). This treatment has extremely high profit margins, contributing to their acceleration in profitability over the last several years. United Therapeutics delivered record revenue, earnings, and FCF in FY23 and that growth is carrying over into 2024. In their latest Q1 FY24 results, revenue increased 34% YoY to $677 million. Net income rose 27% YoY to $306 million, $6.17 per share. Management remains confident in their regenerative medicine profile, and the near-term clinical catalysts in 2024. With a $1 billion share repurchase program in effect, UTHR is a top biotech stock to keep on your radar. \nHealth Care Select Sector SPDR Fund (XLV)\nSource: ShutterstockHealth Care Select Sector SPDR Fund (NYSEARCA:XLV) is the best option for investors seeking diversified exposure to the biotechnology industry. The ETF seeks to track the performance of the Health Care Select Sector Index. \nHealth Care Select Sector SPDR Fund provides investors with several advantages. It eliminates the risks of concentrating your investment in a few individual stocks, providing exposure to a broader segment of the healthcare industry. This diversified approach can help mitigate the negative impacts of the business, especially if pipeline opportunities don’t materialize. The ETFs top holdings include Eli Lilly (NYSE:LLY), UnitedHealth Group (NYSE:UNH), Johnson & Johnson (NYSE:JNJ), Merck & Co (NYSE:MRK) and AbbVie (NYSE:ABBV). Additionally, the fund has returned 10% on an annualized basis over the last decade. XLV currently has a net expense ratio of just 0.10%, on par with some of the cheapest ETFs to own on the stock market.\nOn the date of publication, Terel Miles 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.\nTerel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.Healthcare, Biotech\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/05/3-biotech-stocks-to-double-your-money-in-the-next-24-months/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433895752"}