Looking for Your Next Big Step? Here Are The 7 Best Stocks to Buy in 2023

It is undeniable that stock investment can provide benefits in the future.  Stocks are able to provide capital gains and dividends which make this instrument one of the investment instruments that you should consider.  But don’t fail your first step in 2023, here are 7 best stocks to buy in 2023 as recommendations before deciding to buy a particular stock.

Fate Therapeutics (FATE)

Biotech Stocks show better performance than other stocks in 2022. One of the options for those of you who are interested in choosing stocks is Fate Therapeutics (FATE) which has succeeded in moving perfectly as small-caps biotechs. 

The Streets also believes that readings from FATE like the FT596 will trigger returns on the stock. With an average target price of $62.38, analysts give FATE’s implied price upside by over 365% next year and beyond.

Arvinas (ARVN)

Arvinas is also a biopharmaceutical company that provides special therapy for several types of cancer.  Even though it previously lost 56% in value, analysts believe that Arvinas will return at a doubled price next year. 

At $83.62 analysts give ARVN an implied upside of over 130% in 12 months or so.  This is what makes Arvinas one of the 7 best stocks to buy in 2023 especially for small-caps stocks.

Chart Industries

Chart Industries (GTLS) is the only company outside the recommended health sector.  Even though it had experienced a chaotic 2022, GTLS managed to rise impressively.  Chart Industries is a company that produces cryogenic equipment for industrial needs.  

The company was also affected by the issue of the Russian invasion and also the view of using renewable fuels.  However, the average analyst target price of $200.64 gives the stock an implied upside of around 72% for next year.

Denali Therapeutics (DNLI) 

Denali Therapeutics lost a third of its value in 2022, but analysts say the company is also promising better-than-expected returns the following year.  Of the 17 analysts who watched, 11 recommended Strong Buy, 4 said Buy while only 2 said Hold.

DNLI is also holding an average target price of $64.47 gives the stock an implied upside of around 125% in the next 12 months.

Axsome Therapeutics (AXSM)

Axsome Therapeutics has a market value of $3.41 Billion with an analyst consensus recommendation of 1.40 indicating a Strong Buy.  AXSM has the potential for higher shares in the following years.

The company, which works in therapies for Alzheimer’s and other diseases, was recommended for a Strong Buy by 12 out of 15 analysts. Of $110.08 their average target price of shares implied upside of about 40% for 2023.

Karuna Therapeutics (KRTX)

With a market value of $6.77 billion, Karuna Therapeutics is a biopharmaceutical stock that has high-risk, high-reward characteristics.  This is because KRTX has managed to provide high performance and generate large returns in 2022. 

Of the 19 analysts, 13 stated a Strong Buy and 6 others recommended Buy.  With an average price target of $230.39, analysts give KRTX stock an implied upside of about 45% for 2023.

Rocket Pharmaceuticals

Rocket Pharmaceuticals has a market vacuum of $1.75 billion which makes it a small-cap biotech.  RCKT is also currently at the top of Wall Street’s list of small-cap stocks to buy.  Of the 15 existing analysts, 12 stated Strong Buy while the other 3 stated Buy.

Moreover, with an average price target of $ 52.46, The Street predicts doubling in 2023. RCKT is one of the 7 best stocks to buy in 2023 that provide the best potential returns.

Not all traders are good at technical analysis of markets and stocks. Moreover, the science of analysis is not just any science that everyone can understand. That is why these 7 best stocks to buy in 2023 can be used as your recommendation given by the professional analysts.