While last year saw a wicked bear market, coupled with high volatility, investors have had an easier time of it so far in 2023. Volatility remains an issue, but it has moderated – and both the NASDAQ and the S&P 500 are up nicely year-to-date. The NASDAQ has gained over 16%, and the S&P is up more than 8%. The Dow is the laggard here, having gained only 2.2% in the same time. It’s a market environment that’s sure to present opportunities for gains – so long as investors can cut through the noise to find them.
That’s where the Smart Score tool steps in. This tool, sifting the TipRanks database through a set of AI-enabled algorithms, collects and collates the data on thousands of publicly traded stocks – and rates them according to a set of 8 pre-determined factors known to correlate with share outperformance. The factors are combined for each stock, and each stock is given a single-digit rating, a simple score on a scale of 1 to 10, letting investors see at glance where the stock is likely to go. And shares that get a ‘Perfect 10’ Smart Score are more likely than not bound for better things.
So let’s go there. We can dip into the TipRanks database to pull up equities with the best Smart Scores – and then sort them for additional attributes. Doing this, we’ve found two that have earned that Perfect 10 – and are also seriously undervalued; according to the analysts, these Strong Buy stocks present an average upside potential around 90%. Here are the pair, along with comments from the Street’s stock pros.
Viridian Therapeutics (VRDN)
The first stock on our list is Viridian Therapeutics, a clinical-stage biopharmaceutical company with a focus on rare diseases – particularly on thyroid eye disease (TED), for which its pipeline features four active human clinical trials plus two more planned. Viridian also has three additional research tracks, on rare and autoimmune disease conditions. The company is producing its series of therapeutic molecules and monoclonal antibodies through its proprietary antibody discovery and engineering platform.
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