From Nasdaq: 2024-06-12 19:21:08

While large-cap stocks like Nvidia (NVDA) and Microsoft (MSFT) dominate the market, small-cap stocks with strong fundamentals are often overlooked. These smaller companies have market capitalization between $300 million and $2 billion, providing significant upside potential for investors. Let’s explore three small-cap stocks poised to skyrocket next year.

First up is Recursion Pharmaceuticals (RXRX), a clinical-stage biotech company using AI for drug discovery. Recursion has a unique approach with its Recursion OS platform, combining experimental biology and advanced computational methods. Though promising, Recursion remains unprofitable with no approved products. Wall Street rates the stock a “moderate buy” with upside potential.

Next, Ardelyx (ARDX) focuses on therapies for cardiorenal and GI diseases. The company’s products, Tenapanor and XPHOZAH, have been generating revenue with promising sales projections. Analysts expect significant revenue growth, profitability, and a “strong buy” rating for Ardelyx stock with substantial upside potential.

Lastly, Magnite (MGNI) operates an independent advertising platform connecting publishers and advertisers. Revenue and earnings have shown strong growth, propelled by positive industry trends and significant partnerships like Netflix. Analysts expect Magnite to continue its growth trajectory, rating the stock a “strong buy” with substantial upside potential.



Read more at Nasdaq: 3 Small-Cap Stocks Set To Skyrocket