Stock Analysis & Ideas

Are These 3 “Perfect 10” Smart Score Healthcare Stocks a Safe Bet?

In a turbulent market such as this one, investors can face a great challenge trying to identify the best stocks to buy now. In addition to supply chain, geopolitical, and inflation headwinds, the earnings season volatility can also complicate the picture for investors looking for the right stocks for their long-term investment.

The great news is that TipRanks has a perfect solution to help you narrow down the right stocks to buy in any market condition across industries. Based on a variety of data-driven insights, the TipRanks Smart Score tool makes it easy for investors to assess a stock’s potential performance. 

Indeed, the tool has stood out in guiding investors in picking the winning stocks. Since 2016, stocks with a “Perfect 10” TipRanks Smart Score have significantly outperformed the S&P 500, delivering an alpha of 72.8% over the index. It means that the Top TipRanks Smart Score stocks can be dependable investments even in an uncertain market.

Let us look at three healthcare stocks with a “Perfect 10” TipRanks Smart Score, which indicates that they could be great bets in the sector at times like these.

BioMarin Pharmaceutical (BMRN)

California-headquartered BioMarin Pharmaceutical develops treatments for rare genetic diseases. It has seven products on the market and multiple product candidates in various stages of development. 

The company reported record revenue for Q1 2022, powered by strong sales of Vimizim, Naglazyme, Brineura, and Voxzogo products. Voxzogo is BioMarin’s newest product, having only launched on the market in Q3 2021.

BioMarin’s management sees a transformation year in 2022, citing the strong commercial launch of Voxzogo and potential approvals of severe hemophilia therapy valoctocogene roxaparvovec in the U.S. and Europe. Furthermore, the management says 2022 will mark BioMarin’s transition to sustainable profitability.

Consensus among analysts is a Strong Buy based on 13 Buys and two Holds. The average BioMarin price target stands at $114.36 and implies upside potential of more than 36%. Meanwhile, BioMarin’s stock has declined about 6.5% year-to-date. 

Lantheus (LNTH)

Massachusetts-based Lantheus is a global provider of diagnostic products. Its products help doctors identify conditions that affect organs such as the brain, heart, and lungs. 

The global medical diagnostics market was valued at $56 billion in 2020 and is projected to grow at a steady annual rate of 8.6% through 2026. The market’s growth is being driven by the increasing health awareness among populations.

Lantheus reported a 125.8% year-over-year revenue rise to $208.9 million in Q1 2022. Adjusted EPS jumped to $0.97 from $0.05 in the same quarter the previous year. Following the strong Q1 results, the company raised its revenue and profit outlook for the 2022 full year

Consensus among analysts is a Strong Buy based on three Buys. The average Lantheus price forecast stands at $84.67 and implies upside potential of about 28.97% to current levels. Lantheus shares have gained 125% year-to-date.

InMode (INMD)

Israel-based InMode is a medical device and technology company. Its products are aimed at both patients and healthcare professionals. The products have a broad application, including treatment for the face, skin, and body.

InMode reported record Q1 2022 revenue of $85.9 million, representing a 31% year-over-year rise. Adjusted EPS of $0.40 rose from $0.34 in the same quarter the previous year. 

The management is encouraged by the strong start to 2022. InMode is expanding in the women’s health market in hopes of becoming the market leader. Demand for the products is growing as in-person visits to health facilities return to pre-pandemic levels.

While supply chain and inflation challenges have persisted, InMode CEO, Moshe Mizrahy, said the company is proactively managing the process. In Q1, for instance, the executive said they managed to mitigate the impact of the supply chain and inflation headwinds.

Consensus among analysts is a Strong Buy based on three Buys. The average InMode price target stands at $68.33 and implies upside potential of more than 162% to current levels. InMode shares have declined 60% year-to-date.

Key Takeaway for Investors

In addition to carrying the “Perfect 10” TipRanks Smart Score, InMode, Lantheus, and BioMarin stocks also have Wall Street’s Strong Buy rating. Further, these companies have potential to continue to report great financial performance thanks to strong demand for their products. 

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