Looking for ASX growth shares to buy? These could rise ~30%

Analysts are tipping big returns for shareholders of these growing companies.

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Are you looking for some ASX growth shares to buy in December?

If you are then you might want to hear what analysts are saying about the two named below.

Here's why they could be in the buy zone:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

Analysts at Bell Potter believe that this pharmaceutical company could be an ASX growth share to buy.

The broker currently has a buy rating and a $24 price target on its shares. This implies a potential upside of over 30% from current levels.

The broker believes the company's Scenesse product will underpin strong growth in the coming years. It said:

Clinuvel's drug Scenesse is the only approved treatment globally for the rare disease erythropoietic protoporphyria (EPP). With no competing therapies expected to come to market for at least another ~3-4 years, Clinuvel will maintain its monopoly and sales growth should continue. Longer-term, CUV is undergoing Phase 3 clinical trials for expanding Scenesse approval into vitiligo, a far larger commercial opportunity compared to EPP. […] At current prices we view CUV as an attractive long-term healthcare pick due to its growing and profitable core business plus multiple long-term growth opportunities.

Webjet Limited (ASX: WEB)

Over at Morgans, its analysts believe that this online travel booking company's shares are in the buy zone.

The broker currently has an add rating and $8.55 price target on the ASX growth share. This compares favourably to its current share price of $6.65 and offers almost 30% upside.

Morgans was pleased with Webjet's recent half-year results and highlights that there's still lots more market share to win in the future. It said:

Webjet reported a strong 1H24 result which beat expectations. The performance from WebBeds which posted a record result (bookings are 50% ahead of pre-COVID levels), its industry leading margins and strong operating cashflow were the highlights of the result. Outlook commentary was upbeat, however the war has had an impact on bookings in the last six weeks. FY24 EBITDA guidance was in line with our forecast however if the impact from the war is short lived, it could prove conservative. With plenty of market share still to win, we maintain an Add rating on this high quality growth stock.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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