We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Kodiak Sciences Inc. (NASDAQ:KOD) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A close up of a scientist in a labcoat admiring the progress of a biotech experiment.

Kodiak Sciences Inc. (NASDAQ:KOD)

Q4 Returns as of December 31, 2024: 281%

On December 31, KOD’s stock price reached $9.95 from $2.61 on September 30, 2024, returning 281% in the fourth quarter of 2024, as investors placed their bets on the stock. Consequently, Street’s high price target of $20 represents an upside of 119% from current levels.

Earlier in December 2024, analyst firm Jefferies also shared their bullish sentiment on the stock upgrading their rating from hold to buy with a price target of $20.

As the company transitions to a tech revolution, investors and analysts place high hopes on KOD’s research and development and commercial activities. In addition to that, in the third quarter of 2024, the company accelerated the commercialization of several of its clinical programs, emphasizing its growing position in the industry.

Overall KOD ranks 9th on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of KOD as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KOD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

 

Disclosure: None. This article is originally published at Insider Monkey.