There’s no doubt the bulls have been charging ahead in 2023. The S&P 500 is up more than 18% year-to-date, while the tech-heavy NASDAQ has been puffing out its chest with a 34% return. Right now, the gains are narrow, resting mainly on a handful of deep-pocketed, big-name tech firms, but there’s a likelihood investor money will start spreading around more widely.
If the bull market does widen out, it will raise the question of which stocks to buy, and that’s where the Smart Score can narrow the field. The Smart Score’s data collection and collation algorithms gather up the latest information on thousands of publicly traded stocks – and then rates each stock according to a set of factors that have been shown to match up well with future outperformance. Each stock gets a score, based on a 1 to 10 scale, showing how it measures up in the Smart Score’s calculations.
A high rating from the Smart Score indicates stocks with high potential – and the highest rating, the ‘Perfect 10,’ shows a stock that truly deserves a closer look from investors. Several recent picks from the Wall Street analysts bear this out; they are pounding the table on Strong Buy stocks boasting ‘Perfect 10’ Smart Scores. Here are the details.
Reata Pharmaceuticals (RETA)
First on our list is Reata Pharmaceuticals, a biotech working on new therapeutic agents for patients with serious and/or life-threatening diseases. The company’s research tracks focus on cell metabolism and inflammation, specifically on the molecular pathways involved in these biological processes. Reata has drug candidates at the pre-clinical, clinical, and commercialization stages.
The company’s leading product is the recently approved drug omaveloxolone, now branded as Skyclarys. This drug is a treatment for the neurological disorder Friedreich’s ataxia, which is a progressive, genetically-based movement disorder that typically strikes patients in late childhood or early adolescence. Skyclarys is the only approved treatment on the market for this condition, and is likely to remain so at least for the…