20 Favorite Biotech & Medical Stocks For 2023 - Highlights: Aclx, Kdny, Pdsb, Rytm

2022/12/26 – 20 Favorite Biotech and Medical Stocks for 2023 by Harry Boxer, TheTechTrader.com

This is the year-end video for the top 20 biotech and medical stocks for 2023. You will see details and why I picked these particular stocks and why I am focusing on biotech and medical. I think that the way they are setting up, many of them look great and will be at the forefront this coming year. For this reason, I found it difficult to narrow the list down to just 20 stocks.

Arcellx, Inc. (ACLX) was at 6.00 last May, then exploded to 27, went sideways for seven months, broke out again, and now it’s wedging. There’s no telling where a stock like this can go, but right now, I have targets in the 40’s, 50’s, and 60’s. I have a measured move at about 42, and then we will see where it gets beyond that. The STOP on this one in not below 27.50.

Chinook Therapeutics, Inc. (KDNY), after a 3-year base, broke out and coiled, broke out again, and is now running. I really think this stock longer term has the potential to be in the low to mid 30’s, then the high 30’s and 40’s.

PDS Biotechnology Corporation (PDSB) had a wonderful run in 2020-21 when it went from under a dollar, all the way up to the high teens in a 5-wave move, it pulled back, formed a double-bottom breakout, a breakaway gap, and moved up in a rising pattern. A rising channel may be forming. I’m looking for this stock to immediately go into the 13-range, then eventually, the high teens, if not more.

Rhythm Pharmaceuticals, Inc. (RYTM), one of our best swing trades of the year, is definitely on my list for 2023. It has gone from the 3-dollar range in May to the recent low 30’s. It is now consolidating. If it breaks out of here, you’re looking at a stock that will run to the low 40’s, and then low to mid 50’s at some point.

Other stocks on this video include Akero Therapeutics, Inc. (AKRO), Catalyst Pharmaceuticals, Inc. (CPRX), 89bio, Inc. (ETNB), Harrow Health, Inc. (HROW), Immunovant, Inc. (IMVT), ORIC Pharmaceuticals, Inc. (ORIC), Vaxcyte, Inc. (PCVX), PDS Biotechnology Corporation (PDSB), Replimune Group, Inc. (REPL), Roivant Sciences Ltd. (ROIV), Neuronetics, Inc. (STIM), Terns Pharmaceuticals, Inc. (TERN), Viridian Therapeutics, Inc. (VRDN), Verona Pharma plc (VRNA), Wave Life Sciences Ltd. (WVE), Zymeworks Inc. (ZYME), and Zynex, Inc. (ZYXI).

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