3 Soaring Stocks That May Have More Upside Ahead
The sky is the limit for these companies.
Overview
"Buy low" is a common investing phrase that some people may interpret as "buy after a pullback." However, even near all-time highs, a stock can be at a "low" point, provided there are good reasons to think it will continue performing well. That's why buying shares of companies that have risen significantly recently isn't necessarily a bad idea. With that said, let's consider three stocks that have all more than doubled over the trailing-12-month period but may have plenty more fuel in the engine to keep going: Abivax (NASDAQ: ABVX), Krystal Biotech (NASDAQ: KRYS), and Marvell Technology (NASDAQ: MRVL).
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Shares of Abivax are up by more than 1,500% over the past 12 months. As is usually the case with clinical-stage biotechs, the company owes this performance to strong clinical progress with its leading candidate, obefazimod, an investigational medicine for ulcerative colitis (UC). Obefazimod has now shown strong efficacy results as both an induction and maintenance therapy for patients with moderate-to-severe UC. And although initial data from the maintenance trial raised some safety concerns, the company has addressed them as well.
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Originally published at www.fool.com.