These 9 biotech stocks have doubled this year and are set to double again, analysts say

Nine health-care stocks have more than doubled in price this year, but still have more than 100% upside potential, according to analysts. CNBC Pro screened more than 85,000 firms worldwide for stocks that have risen by 100% so far in 2024. They are all covered by at least five or more analysts, and a have a median price target pointing to more than 100% upside potential over the next 12 months. The Nasdaq-listed stocks are Jasper Therapeutics , Corbus Pharmaceuticals , Rezolute , Trevi Therapeutics , Delcath Systems , Benitec Biopharma , Arcutis Biotherapeutics , Praxis Precision Medicines and Humacyte . Stocks in the biotechnology sector are typically classed by analysts as carrying higher risk for investors than other sectors. Jasper Therapeutics Jasper Therapeutics is a clinical-stage biotechnology company developing briquilimab, a drug that could potentially treat various conditions related to mast cells and stem cells, including chronic skin rashes and asthma. Eleven Wall Street firms analyze the stock. All have a "buy" or equivalent rating, and every single one expects the stock to more than double over the next 12 months. The median price target of $69 suggests a 278% potential upside. Corbus Pharmaceuticals Corbus Pharmaceuticals, founded in 2009, is focused on developing new cancer treatments. The Massachusetts-based company is working on several drugs that target different aspects of cancer biology while also researching a treatment for obesity. The median average price target of $66.50 from eight analysts points to a 252% upside potential over the next 12 months. Rezolute Rezolute, founded in 2010 and also based in California, is working on treatments for rare diseases, particularly those involving low blood sugar. Eight analysts have a median price target that points to an upside potential of 180% over the next 12 months, after having already risen by 385% so far this year. Trevi Therapeutics Trevi Therapeutics is developing a drug called Haduvio for treating chronic cough in certain lung conditions. The company says chronic cough, which affects up to 10% of the U.S. population, can significantly impact quality of life and may worsen the condition in some lung diseases — for which there are no approved specific treatments. Trevi has an upside potential of 152% over the next 12 months, according to the average price target of 10 analysts tracking the stock. Delcath Systems Delcath Systems specializes in treatments for liver cancer. The company, founded in 1988, has treatments that have already been approved for use in the U.S. and Europe. Analysts expect the stock to rise by 140% over the next 12 months. The stock has already doubled this year. Benitec Biopharma Benitec Biopharma is working on genetic treatments for various diseases. The company, founded in 1995 in Australia, is now headquartered in Hayward, California. Benitec is expected to rise by 104% over the next 12 months, according to the median price target of five analysts. The stock has risen by 203% this year. Arcutis Biotherapeutics Arcutis, founded in June 2016, has already successfully brought three dermatology products through FDA approval. The stock is expected to rise 103% over the next 12 months. Arcutis is up 190% so far this year. Praxis Praxis Precision Medicines focuses on developing treatments for brain and nervous system disorders. Praxis is up 223% so far this year, and 10 analysts tracking the stock expect it to rise by 103% over the next 12 months. Humacyte Humacyte is developing artificial tissues and organs that the company calls "universally implantable bioengineered human tissues." Humacyte has doubled this year, and analysts expect it to double again over the next 12 months.