10 Stocks That Could Possibly Double in 2020

Stock Market

Although there have been a few ups and downs in the stock market over the past 12 months, the overall performance has been fairly remarkable. The S&P 500 is up by 23% with Nasdaq to just over 26% and the Down Jones gaining 18%. There have also been several companies that have performed with an incredible 100% gain suggesting that these offer the potential for you to double your investment for 2020. Here are 10 stocks that have a strong potential to double for 2020.

1. Aimmune Therapeutics (NASDAQ: AIMT)

Aimmune Therapeutics is listed on the NASDAQ stock exchange under the ticker symbol AIMT. It is a biotech company that has a lead drug candidate named Palforzia. This product is design to lessen the symptoms that develop in kids and teens with peanut allergies. Although the drug is currently in the trial stage, teh good news is that just over 67% of participants have shown positive results with a successful reduction in allergic reaction symptoms. The Allergenic Products Advisory Committee of the FDA has already given this drug a thumbs up and it is estimated that Palforzia will be fully approved by January 2020 with an estimated market value of over $470 million in sales between 2020 and 2022. Aimmune is also investigating other treatments for walnut and egg allergies, carving a niche within the biotech industry with tremendous potential for its stock to double in 2020.

2. MediPharm Labs (OTC: MEDIF)

MediPharm Labs is a Canadian company specializing in the extraction of resins, concentrates, and distillates from cannabinoids from cannabis and hemp biomass. The end products are used to develop derivatives of high margin including infused beverages and edibles which were recently legalized in Canada in October of 2019. There is a strong demand for cannabis and hemp extraction services in the United States and since it has just been legalized in Canada, the expectation is that the demand will be strong for 2020. MediPharm secures contracts with a range of 18 to 36 months which establishes a predictable cash flow and the company has a processing potential of 500K kilos annually. Since MediPharm is already profitable it is expected that the stock value will at least double in 2020.

3. Teva Pharmaceutical Industries (NYSE: TEVA)

Teva Pharmaceutical Industries is a giant in the pharmaceutical industry that experienced a loss of half its value by 2019. We start with the four years of poor performance due to opioid lawsuits, high levels of debt, weakness in generic drug pricing and allegations of bribery. This was the roughest patch in the history of a company that once produced hefty dividends. Teva’s response to the lawsuits coming from 44 states has been to offer free medicine which means it won’t have to fork out a large sum of cash to resolve the suits. With the resolution on the horizon, Teva will likely regain the ground that it lost. Plans are already being executed to lower the net debt of the company and it’s becoming an attractive stock for investment once again. With all of the positives projected for Teva, investors are eyeing it from a different perspective and this is another stock that has a high potential for doubling in 2020.

4. Trupanion (NASDAQ: TRUP).

Trupanion is a lifelong insurance policy provider for cats and dogs in a market with the prospect of &75.4 billion spent on pets in 2019, $19 billion in veterinary care and $64.3 billion for the purchase of pet insurance to help defray the cost of costly medical services for their pets. Trupanion offers pet insurance for pet owners within the United States and Canada. Previously its market penetration has been just 1-2% and it has a big potential for growth for 2020. Trupanion has remained unprofitable but with sales soaring by 26% in the second quarter there is a projected growth of 20% by 2020. Analysts predict this company to continue to grow through its referral program and have strong confidence in the potential for the stock to double in value in 2020.

5. Amarin (NASDAQ: AMRN).

Amarin is a biotech company that is based in the country of Ireland. What makes experts so excited about Amarin is the lead drug Vasecpa, which is a purified fish oil derivative. The drug gained FDA approval in 2012 for the treatment of severe hypertriglyceridemia, but that isn’t the good news. A recently released five-year study conducted by Harvard just gave the product press for lowering the risk of stroke, heart attack and death in patients by 25%. These are intriguing results that have made Vascepa a candidate for an expanded label indication for use as a preventative medication for major cardiovascular events. There is a possibility of the patient pool growing by 10% along with sales of the medication. While the positive reviews suggest that the FDA will approve the drug for expanded use, the projected growth is contingent upon approval but there is a sunny outlook because it’s likely to be the case, making Amarin a stock with the potential for doubling in 2020.

6. Heron Therapeutics: (NASDAQ: HRTX)

Heron is a small-cap stock that has the potential of a mid-cap. Heron Therapeutics is a biotech company that is projected to be another stock with teh potential for doubling in 2020. Although the FDA’s rejection of its HTX-011, a lead candidate drug set it back in previous years, Heron has refiled the application for approval with the FDA after a 6-month truncated study with expectations for approval in early 2020. Heron produces novel pain medications as an alternative to opioid drugs which are becoming a thing of the past. The demand for such drugs is great with a strong market. With the approval of HTX-011, it is estimated that the annual sales will be several hundred million. Heron stock is expected to more than double for 2020.

7. Sarepta Therapeutics: (NASDAQ: SRPT)

Sarepta Therapeutics occupies a unique position within the biopharmaceutical industry. The company is a pioneer in the creation of precision genetic medicine. It is a global leader in producing medications for the treatment of Duchenne Muscular Dystrophy. Within the last few months, the share prices have shown a gain of a massive 135%. After suffering a setback from the FDA rejection of the drug candidate golodirsen due to the high potential for renal toxicity and risk of infection, another candidate named Vyondys 53 shows the same potential for achieving the success of their first-ever treatment of DMD Exondys 51, with a multi-billion dollar market for the drugs.

8. Stitch Fix: (NASDAQ: SFIX)

Stitch Fix is a company that has tremendous upside potential. The company is an online shopping service that took a 38% downturn with a slow creep on stock prices showing a more than 1.5% growth in late fall. It’s resurging and it is a traditional apparel retailer wit a strong brand and a solid position which gives it an advantage as an early mover with the likelihood of improving long-term margins. Stitch Fix has been upgraded by Stifel Nicolaus and Goldman Sachs from a hold on their advisory list to a Buy. This is likely to boost sales with a 96% upside potential that would result in a doubling of value for the stock.

9. Lyft (NASDAQ: LYFT)

Lyft has taken the front seat and placed UBER in the back when it comes to stock ratings. The company specializing in rideshare services has received analyst thumbs up with just four out of 25 recommending to hold and 19 saying it’s time to buy stock. This amounts to a strong BUY recommendation. They’re giving the stock a 106$ potential for upside from its current level which is more than double for investors for 2020.

10. Cresco Labs (OTCMKTS: CRLBF)

Cresco Labs is headquartered in Chicago, Illinois. The company specializes in retail activities for cannabis and medical marijuana. Impressively it recently acquired Tryke Companies which specializes in seed to sale in the cannabis industry along with six Reef Dispensary locations throughout Arizona and Nevada. Cresco Labs is poised for entry into the cannabis market in the state of Nevada for 2020 which has the largest and most rapidly growing cannabis markets in the United States. This gives the company a runny outlook with analysts betting that it will achieve a growth of 135% throughout 2020.

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