Here we present three drug and biotech stocks, VIR, GLPG and PCRX, which took a beating in 2022 but have upside potential for 2023, despite an uncertain macro environment.
The average of price targets set by Wall Street analysts indicates a potential upside of 34.4% in Galapagos NV (GLPG). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Galapagos NV (GLPG) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.