3 Buy-Ranked Biotech Stocks That Soared In 2017

The S&P 500 is up almost 20% in 2017, with the likes of technology giants Nvidia (NASDAQ:NVDA) and Amazon (NASDAQ:AMZN) helping lift the index to new heights.

Amazon, while it profits from its cloud business and shakes up the retail and grocery industry, saw its stock price climb 58.3%. Shares of Apple (NASDAQ:AAPL) , which has grown into one of the biggest companies in the world, popped over 50% in 2017. Semiconductor power and newly minted Wall Street A-lister Nvidia skyrocketed nearly 84%.

However, these massive gains pale in comparison to the insane growth that a few biotech companies experienced this year. And even with these gains, many of these firms are set to keep rising.

With that said, let’s take a look at three biopharmaceutical stocks, which also have high Zacks Ranks, that all soared over 400% in 2017:

1. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Shares of Madrigal Pharmaceuticals have skyrocketed 535% in 2017, which includes a nearly 184% climb in the last 12 weeks. This clinical-stage biopharmaceutical company focused on a thyroid hormone receptor pathway in the liver is currently a Zacks Rank #2 (Buy). The company also sports an “A” grade for Growth in our Style Scores System.

Like a lot of biopharmaceutical companies, Madrigal is not projected to be profitable just yet. But based on our current Zacks Consensus Estimates, the firm is projected to see its bottom line improve by 50% in its current year as it inches closer to the black. Luckily for investors, despite its massive run, Madrigal currently rests over 8.50% below its 52-week high—which makes it a possible buy on the dip candidate.

2. XOMA Corporation (NASDAQ:XOMA)

XOMA Corporation is currently a Zacks Rank #1 (Strong Buy) and rocks an “A” grade for Growth in our Style Scores system. Shares of this biopharmaceutical firm have soared 650.95% in 2017. Still, despite this massive movement, some investors might be happy to learn that XOMA currently rests roughly 7.50% below its 52-week high as we near the start of 2018.

This biotech firm works to develop antibodies to treat autoimmune, cardiovascular and inflammatory diseases. Looking ahead, XOMA is moving towards profitability. In fact, our current Zacks Consensus Estimates call for the company’s full-year EPS figure to jump by 91.16%, driven in part by 465.37% revenue growth—with sales expected to hit $31.46 million.

3. Sangamo Therapeutics, Inc. (NASDAQ:SGMO)

Sangamo Therapeutics works in the potentially game-changing and quickly growing world of genome editing, gene therapy, gene regulation, and cell therapy. Sangamo Therapeutics has seen its stock price jump 422.95% in 2017. The company is also currently a Zacks Rank #2 (Buy) and sports a “B” grade for Growth in our Style Scores system.

The company’s rapid 2017 growth has slowed a bit, and its shares currently rest almost 15% below their 52-week high. However, the company recently earned a positive opinion on its application for an orphan medicinal product designation (OMPD) for Sangamo’s SB-318 and SB-913 genome editing product candidates. Looking ahead, Sangamo is projected to see its full-year sales soar by 87%.

5 Medical Stocks to Buy Now

Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.

New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.

Click here to see the 5 stocks >>