3 Top-Rated Stocks Trading At Steep Discounts

With the market so volatile right now, there are plenty of savvy opportunities to be found. The key is to look for strong stocks that have been unfairly discounted by the market. We used TipRanks’ Top Analyst Stocks tool to pinpoint three key stocks that are poised to soar from current levels. These are under-performing stocks with substantial backing from Wall Street’s best-performing analysts. And as you will see below, all three of these stocks have big upside potential ahead. Let’s take a closer look now:

Global Blood Therapeutics (NASDAQ:GBT)

GBT specializes in sickle cell disease, an inherited blood disorder caused by a genetic mutation. However, the stock plunged nearly 17% on June 15 following mixed results from a critical trial. Shares have slightly improved since then, but on a one-month basis, GBT is still trading down over 10%.

The trial in question was a HOPE-KIDS 1 Phase 2a study. GBT was testing how children with sickle cell disease reacted to experimental drug voxelotor. While the hemoglobin response was impressive, the total symptom score (TSS) came in below expectations. But the drug candidate remains attractive, according to top-ranked Wedbush analyst Liana Moussatos.

“Barring any dramatic deterioration in the safety profile, we believe voxelotor remains an eminently approvable medicine with clear disease modifying properties directed at a population with limited clinical options,” writes Moussatos. She reiterated her $70 price target on GBT (66% upside potential), while adding “we remain byers on weakness.”

Indeed, from an investing perspective, the stock only appears more attractive post-plunge: “With the June 15, 2018, drawdown in the rearview, Global Blood’s stock is now underperforming the sector, up modestly 1.5% YTD vs. roughly 15% for the XBI; offering significantly better risk-reward heading into the HOPE Part A readout, in our view.”

Our data shows that the Street is united in its bullish take on GBT. The stock floats a ‘Strong Buy’ analyst consensus rating with 8 consecutive recent buy ratings. Meanwhile, the average analyst price target of $73.71 indicates huge upside potential of 75%.

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Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial advice. TipRanks' natural language processing (NLP) algorithms aggregate and ...

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