Francis TolbertFor investors aiming to boost their portfolios, a wider exploration of stock options is key. One promising strategy is to examine the anticipated earnings forecasts for the upcoming year. Here, we highlight seven stocks set for remarkable growth in 2024 that might not be on every investor’s radar.
TG Therapeutics (TGTX): This biopharmaceutical company is gaining momentum with its multiple sclerosis drug, Briumvi. After facing a downturn this year, predictions suggest a colossal 1,870% earnings jump in 2025, driven by expected sales growth of 41% in 2024 and 64% the following year. Despite previous setbacks, TG Therapeutics has climbed nearly 99% this year.
Alcoa (AA): The aluminum industry leader is bouncing back after tough times. Having reported two consecutive quarters of positive results, expectations for Alcoa are high, with a 320% earnings increase projected for next year. Recent strategic acquisitions should aid a sales increase of 10% this year and 6% next year.
Vericel (VCEL): Famed for its products in sports medicine and burn care, Vericel anticipates turning positive financially in 2024. Analysts foresee earnings per share shooting up by 277% next year, with sales growing by 23%.
RadNet (RDNT): As a notable player in medical imaging, RadNet expects its earnings per share to soar by 172% in 2024 after recovering from previous slumps. Its cutting-edge AI integration is enhancing growth prospects.
GE Vernova (GEV): This energy spinoff of General Electric sees bright prospects with anticipated substantial demand for electricity solutions. Expected earnings growth through 2025 positions it strongly among peers.
Lumentum (LITE): Specializing in optical networking innovations, Lumentum is set for a financial rebound. Next year’s forecast indicates a 136% earnings increase, showcasing its recovery from past declines.
Semtech (SMTC): Known for its high-performance semiconductors, Semtech anticipates a 130% earnings spike next year after a robust recovery in 2024. This marked turnaround is catching the eye of forward-thinking investors.
Our insights drew from the expansive S&P Composite 1500 index, focusing on stocks projected for outstanding earnings and strong analytical ratings. As investors seek alternatives to mega-cap names, these under-the-radar choices present potential for impressive portfolio gains.
7 Under-the-Radar Stocks Poised for Explosive Growth in 2024
Investors often seek untapped opportunities to maximize their portfolio gains, and focusing on stocks with strong earnings growth potential can be a rewarding strategy. Let’s delve into seven hidden gem stocks that are projected for remarkable improvement in 2024, offering promising investment avenues for forward-thinking investors.
TG Therapeutics (TGTX): A Biopharmaceutical Breakthrough
TG Therapeutics is re-emerging as a powerhouse with its multiple sclerosis drug, Briumvi. Investors are closely watching this company as it gears up for phenomenal earnings growth predicted to hit a staggering 1,870% in 2025. This growth is underpinned by anticipated sales surges of 41% in 2024 and 64% thereafter. Despite earlier challenges, TGTX stock has surged approximately 99% this year, reflecting renewed investor confidence.
Alcoa (AA): Aluminum Giant on the Upswing
Alcoa remains a leader in the aluminum industry, shaking off past difficulties. Its robust strategic acquisitions are expected to drive sales up by 10% this year and an additional 6% next year. Analysts project a 320% earnings bounce in 2024, firmly re-establishing Alcoa’s market leadership.
Vericel (VCEL): Transforming Health Solutions
Vericel specializes in sports medicine and burn care, sectors ripe with potential. Set to achieve financial positivity in 2024, its earnings per share are forecasted to rise by 277%, supported by a 23% increase in sales. This momentum puts Vericel in a prime position to capitalize on growing healthcare demands.
RadNet (RDNT): Innovating Medical Imaging
A leading entity in medical imaging, RadNet is leveraging cutting-edge AI technology to fuel growth. With earnings per share expected to jump by 172% in 2024, the company is recovering strongly and positioned for further advancements in the medical field.
GE Vernova (GEV): Powering the Future of Energy
As an offshoot of General Electric, GE Vernova is rapidly gaining traction in the energy sector. It anticipates substantial demand for its electricity solutions, which is expected to bolster earnings growth through 2025, solidifying its competitive edge in the market.
Lumentum (LITE): The Optical Networking Pioneer
Lumentum, with its focus on optical networking innovations, is set for financial revitalization. Analysts predict a 136% increase in earnings next year, signaling recovery from previous downturns and highlighting the potential for robust future performance.
Semtech (SMTC): Engineering Next-Gen Semiconductors
Known for cutting-edge semiconductors, Semtech is on an impressive recovery trajectory. With a 130% earnings surge anticipated next year, this turnaround story captures the interest of savvy investors seeking high-reward opportunities in technology sectors.
By examining the S&P Composite 1500 index, these stock selections stand out as potential alternatives to mega-cap investments, offering compelling opportunities for substantial portfolio enhancement. As investor appetites shift towards under-the-radar choices with high growth potential, these stocks are poised to deliver impressive returns heading into 2024.
