Goldman Sachs has given 49 stocks a "buy" rating since Jan. 1 — and a look at the list reveals five that the bank says could rally more than 90% over the next 12 months. Dynavax Technologies California-based biotechnology firm Dynavax Technologies is one such stock. Goldman's analyst Madhu Kumar reinstated the stock to "buy" in a research note on Jan. 5, as he noted the "considerable" potential revenue stream from the company's Covid-19 vaccine adjuvant — an ingredient used in vaccines to create a stronger immune response. Over the longer term, the bank is "bullish" on the company's hepatitis B virus (HBV) vaccine Heplisav-B, which it believes has a potential to be "best-in-class." A recent recommendation by the U.S. Centre for Disease Control and Prevention for universal HBV vaccination in the U.S. could lead to a a 50% expansion of the virus vaccine market, Kumar said. The bank forecasts sales of the company's Covid-19 adjuvant t o hit $517.5 million this year, while Heplisav-B is expected to generate revenues of $536.1 million by 2030, Kumar said in the company's initiation note on Aug. 5. Goldman has a price target of $38 on the stock, which closed at around $13 on Jan. 13 — an implied potential upside of 191%. Nerdy The bank also likes live online learning platform Nerdy . The company provides both paid and free classes in the U.S via its online platform — a market which Goldman expects to be valued at $69 billon by 2026. Analyst Eric Sheridan said in his initiation note on Jan. 6 that Covid-19 had accelerated the shift from offline to online learning, which he expects will benefit Nerdy in the longer-term. Goldman has forecast revenue growth of 30% for the company into 2026, when it is expected to hit $519 million. The bank's price target of $8 on the stock implies a potential upside of 91% to its closing price of $4.20 on Jan. 13. Planet Labs Goldman initiated coverage on U.S. satellite imaging company Planet Labs i n January, describing the company as a "market leader" which has a "massive" opportunity in selling its data analytics products. The company has "first mover advantage in a 'game changing'' sector where commercial applications are in 'nascent' stages but where many new customers may find "substantial value," analyst Noah Poponak said in his initiation note on Jan. 12. The company has a scalable model which should also lead to higher profitability, Poponak said, with "sustainable" margins of more than 30% once scale has been reached. Goldman has a price target of $11 on the stock, implying a potential upside of 97% to its closing price of around $5.60 on Jan. 13. Beigene The bank also favors Chinese biotechnology firm Beigene , initiating coverage on Jan. 11— shortly after its listing on the Shanghai Stock Exchange. Analyst Ziyi Chen said the company is building a global cancer treatment franchise, with one of the largest oncology teams in the world and extensive global clinical trials. Chen also noted its "transformational collaborations" with Amgen and Novartis . The analyst highlighted the company's "solid" cash position, which will stand it in good stead as funding potentially slows in the biotech sector. Goldman has ascribed a price target of 276.1 Chinese yuan ($43.50) on the stock, representing a 105% potential upside to its closing price of around 135 Chinese yuan on Jan. 13. Asychem Goldman commenced coverage of Tianjin-based pharmaceutical company Asychem on Jan. 13, calling it "well positioned" to capture the growing trend of drug development and manufacturing services (CDMO) being outsourced to China. Analyst Lizheng Zhu said the company's focus on research and development had led to its leadership within the CDMO space, while the company also has a "well-recognized" reputation. Asychem also has strong customer retention and is gaining traction in attracting new client segments, Zhu added. Goldman has a price target of 552.50 Hong Kong dollars ($71) on the stock, representing a 92% upside to its closing price of around 287 Hong Kong dollars on Jan. 13.
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Goldman Sachs has given 49 stocks a "buy" rating since Jan. 1 — and a look at the list reveals five that the bank says could rally more than 90% over the next 12 months.