3 Top Stocks That Could Still Rocket Higher in 2024

Core Viewpoint - Upcoming FDA decisions for BridgeBio Pharma, PTC Therapeutics, and Vertex Pharmaceuticals could lead to significant stock price movements before the end of 2024 [1] Group 1: BridgeBio Pharma - BridgeBio Pharma's acoramidis is under FDA review for treating transthyretin amyloidosis cardiomyopathy (ATTR-CM), with a decision expected by Nov. 29 [2] - Recent evidence shows acoramidis reduced the risk of death by 42% and hospitalization due to cardiovascular events by 50% compared to a placebo [2] - BridgeBio has a market cap of $4.7 billion, and a positive FDA decision could significantly increase its stock value [3] Group 2: PTC Therapeutics - PTC Therapeutics has two approved therapies and receives royalties from Roche for Evrysdi, generating $118 million in product sales and $53 million in royalties in Q2 [4] - The FDA is reviewing Upstaza, a gene therapy for AADC deficiency, with a decision expected by Nov. 13 [4] - PTC Therapeutics has a market cap of $2.8 billion, and a positive decision on Upstaza could enhance its stock performance [5] Group 3: Vertex Pharmaceuticals - Vertex Pharmaceuticals' lead drug, Trikafta, is projected to generate over $10.5 billion in sales this year, treating over 68,000 cystic fibrosis patients [6] - The FDA is reviewing a new once-daily dosing regimen for Vertex, with a decision expected by Jan. 2, 2025 [6] - Trikafta patents are expected to maintain market exclusivity until 2037, and a new approval could further solidify Vertex's market position [7]