If you have a penchant for ASX growth stocks and want some big returns for your investment portfolio, then read on!
That's because listed below are a couple of ASX growth stocks that analysts have rated as buys and tipped to rise at least 80%.
Here's what they are saying about these stock right now:
Clinuvel Pharmaceuticals Ltd (ASX: CUV)
The team at Bell Potter thinks that this pharmaceutical company could be an ASX growth stock to buy for big returns right now.
Clinuvel Pharmaceuticals is focused on the distribution of its lead drug Scenesse (afamelanotide) across Europe and USA for patients with the rare disease Erythropoietic protoporphyria (EPP).
Bell Potter believes that the company's shares are severely undervalued at present. This is particularly the case given its strong margins and the possible expansion of Scenesse into other indications. It recently said:
The company recently delivered a record half-year result, showcasing strong profitability with attractive EBITDA margins (~50%). Trading at approximately 7.4x EV/EBITDA valuations are not stretched, our analysts view the current valuation as well-supported by its existing, highly profitable EPP franchise alone without consideration for the substantial market opportunity presented by its vitiligo treatment program.
Bell Potter currently has a buy rating and $21.75 price target on the growth stock's shares. Based on its current share price of $10.63, this suggests that they could double in value between now and this time next year.
HMC Capital Ltd (ASX: HMC)
Over at Goldman Sachs, its analysts think that this beaten down diversified alternative asset manager could be a top ASX growth stock to buy now.
The broker likes HMC Capital due to its growth strategy and the recent diversification away from traditional real estate. Goldman believes that this will support strong funds under management (FUM) growth over the medium term. It recently said:
We are Buy rated given HMC's FUM growth strategy and diversification away from classic Real Estate and into Digital Infrastructure (including DigiCo) among various other strategies including Energy Transition and Private markets.
On the latter we see four key factors supporting FUM growth in the medium term, including: i) increased investor allocation to private markets, ii) a positive skew in borrower preferences to private credit, iii) a structural shift in the public markets to larger deal sizes, and iv) an acceleration in commercial real estate credit due to Australia's undersupply of housing stock.
Goldman Sachs currently has a buy rating and $9.96 price target on HMC Capital's shares. Based on its current share price of $5.58, this implies potential upside of almost 80% for investors.
