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Goldman Sachs: 2 Stocks That Could Climb Over 90%

What’s more critical for the stock market’s health than the outcome of the presidential election? A COVID-19 vaccine, so says Goldman Sachs. With Q3 earnings season kicking into gear this week, the firm believes the virus’ effect on fundamentals should be the focus, as opposed to the race to the White House. “The vaccine represents a more important factor than the election result for the path of equities… The consequences of the semi-frozen economy on an uneven road to recovery will be in Q3 results,” Goldman Sachs’ U.S. equity strategist David Kostin commented. Even though elections are a source of uncertainty, research analysts from Goldman Sachs found just a 4% difference in EPS if President Trump is re-elected or the Democrats come out on top. Based on the firm’s analysis, an increase in fiscal spending that is partly funded by increased tax revenue would “boost economic growth, and help offset the earnings headwind from high tax rates.” Taking this into consideration, our attention turned to two stocks that Goldman Sachs thinks have outsized growth prospects, with the firm’s analysts forecasting at least 90% upside potential for each. Using TipRanks’ database, we found out both tickers also sport a “Strong Buy” consensus rating from the rest of the Street. Athira Pharma (ATHA) Applying cutting-edge approaches to neurodegenerative diseases, Athira Pharma wants to improve the lives of patients from all over the world. Given the potential of its asset in Alzheimer’s disease (AD), Goldman Sachs is pounding the table. ATHA made its public market debut on September 18, with the first trade coming in at 17.4% above the IPO price. Raising $204 million, the company sold 12 million shares instead of the 10 million that was originally expected. Writing for Goldman Sachs, analyst Graig Suvannavejh points to its lead candidate, ATH-1017, which is a small molecule activator of HGF/MET currently being evaluated in a Phase 2/3 trial as a treatment for mild-to-moderate AD, as a key component of his bullish thesis. The analyst doesn’t dispute that AD is a difficult indication to address, but tells clients he has high hopes for ATHA. “We’re fully cognizant of the history of AD drug development, and its well documented past of high failure rates. As such, AD-focused companies like ATHA should be considered as having high risk. However, as there still remains a significant lack of effective drugs for AD, we believe alternative approaches to treating AD have merit,” he explained. In the past, the most common therapeutic approaches to AD have been those focused on the belief that the accumulation of disease-causing proteins in the brain leads to AD. However, AD therapeutics based on targeting amyloid have all failed in clinical trials to demonstrate efficacy, with monoclonal antibody (mAb) approaches that target tau, another protein that aggregates in the brains…