We recently published a list of 10 Best Multibagger Stocks To Buy Heading into 2025. In this article, we are going to take a look at where Jasper Therapeutics, Inc. (NASDAQ:JSPR) stands against other best multibagger stocks.
November has been an eventful month so far for the market as the Fed cut rates by a quarter percentage and president-elect, Donald Trump won the election for the second time. The market reacted positively to these events as the major indices touched all-time highs and even Bitcoin finally broke off its shell after many months, reaching an all-time high of $93,000.
More recently, Federal Reserve Chair Jerome Powell stated that solid economic growth, low unemployment, and inflation above 2% mean there’s no urgency to cut interest rates. Speaking in Dallas, Powell said inflation is on a path toward the Fed’s 2% target, allowing for cautious policy adjustments.
He highlighted the economy’s strong fundamentals but acknowledged persistent inflation pressures. While a rate cut is expected by the market in December, it anticipates fewer cuts next year due to steady inflation and policy uncertainties. According to the CME FedWatch, 62.4% of the interest rate traders expect a 25 bps rate cut in December. However, in January, 55.5% of the market anticipates the rates to remain the same after the December cut.
Powell emphasized that the Fed will monitor inflation closely, especially housing costs, as it aims to reach its target sustainably.
READ ALSO: 12 High Growth Large Cap Stocks to Buy Now and 10 Best Low Volatility Stocks to Invest in Now.
Election Boosts Market Optimism but Risks Remain
Stuart Kaiser, Citi’s head of equity trading strategy recently joined CNBC’s Closing Bell. In the post-election discussion, Kaiser expressed a generally optimistic outlook, with confidence that the markets have cleared the immediate uncertainties related to the election. Kaiser noted a temporary boost from this event but emphasized that moving forward, market focus will return to U.S. economic growth, the Fed’s actions, and corporate earnings.
While he believes valuations are currently more justifiable with expected growth from deregulation and new policy changes, he remains cautious about risks tied to bond market movements and rising yields. He suggested that rising yields linked to economic growth are manageable for equities, but warned against yields climbing due to fiscal or tariff issues, which could unsettle the market.
Regarding equity strategy, Kaiser advocated a cautious approach to small-cap investments, preferring high-quality, profitable small caps due to their domestic focus, which could shield them from trade policy risks impacting larger companies. Additionally, although Kaiser doesn’t handle non-traditional assets directly, he acknowledged that assets like Bitcoin might gain traction in a strong economic or supportive policy environment.
A biotech scientist studying a microscope slide filled with hematopoietic stem cells.
Our Methodology
For this article, we used the Finviz stock screener to identify over 350 stocks with share price gains of over 100% in the last 12 months, as of November 13. Next, we narrowed our list to 28 stocks with share price gains of 200% either in the last 12 or 24 months and Buy or better ratings from analysts. From that list, we removed the stocks that had negative share price returns compared to 24 months ago and finally narrowed the list to 10 stocks with an average analyst price target upside of over 100%. The 10 best multi-bagger stocks are listed in ascending order of their average price target upside.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Jasper Therapeutics, Inc. (NASDAQ:JSPR)
1-Year Share Price Performance: ~262%
2-Year Share Price Performance: ~255%
Average Price Target Upside: 192.52%
Jasper Therapeutics, Inc. (NASDAQ:JSPR) is a clinical-stage biotech company focused on developing treatments for hematopoietic stem cell transplants and gene therapies. Its main candidate, briquilimab, is an antibody designed to clear bone marrow stem cells in preparation for allogeneic stem cell or gene therapy.
The company is advancing treatments for conditions such as chronic spontaneous urticaria (a skin condition characterized by the sudden, recurring appearance of itchy hives), myelodysplastic syndrome (group of disorders caused by poorly functioning blood cell production in the bone marrow), and stem cell transplant conditioning. It is also exploring stem cell therapies for rare diseases, including sickle cell disease, Fanconi anemia, and a few others.
On November 7, Jasper (NASDAQ:JSPR) reported its third-quarter 2024 results and provided an update on its clinical programs. The company announced the closure of its legacy study in lower-risk myelodysplastic syndromes (LR-MDS) and highlighted progress in its mast cell disease development programs. Preliminary data from the SPOTLIGHT study showed that 93% of patients treated with briquilimab for cold urticaria and symptomatic dermographism responded clinically, with no serious adverse events.
The company also received regulatory clearance in the U.S. and EU to expand its BEACON study in chronic spontaneous urticaria (CSU) and launched an asthma challenge study. In the LR-MDS study, briquilimab was well-tolerated but did not improve hematopoiesis, leading to the discontinuation of development for this indication. The company anticipates presenting further data in early 2025.
Jasper (NASDAQ:JSPR) reported cash and cash equivalents of $92.5 million as of September 30. Research and development expenses totaled $14.5 million, which included $0.6 million in stock-based compensation. General and administrative expenses were $5.4 million, with $1.4 million allocated to stock-based compensation. The company posted a net loss of $18.6 million or a basic and diluted net loss per share of $1.24.
JMP Securities keeps an optimistic outlook of the company’s latest results as its analyst Silvan Tuerkcan maintained a Buy rating on Jasper Therapeutics with a $70.00 price target, as reported by TipRanks on November 8. The rating reflects optimism surrounding the company’s briquilimab program, especially the BEACON Phase 1b/2a study, which shows promise for CSU treatment. Initial data from this study is expected in early 2025.
Despite halting the LR-MDS program due to limited benefits, positive insights into briquilimab’s safety profile continue to support its potential. Early results from the SPOTLIGHT study also highlight briquilimab’s efficacy in treating mast cell-mediated diseases. The company’s solid cash reserves further support its ability to continue its studies and support future growth.
Overall, JSPR ranks 2nd on our list of best multibagger stocks to buy heading into 2025. While we acknowledge the potential of JSPR as an investment, our conviction lies in the belief that 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 JSPR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.