In the world of pharmaceuticals, trivia enthusiasts may be surprised to learn that the best-selling drug of 2024 was none other than Keytruda, a cutting-edge cancer immunotherapy developed by Merck. This remarkable drug generated a staggering $29.5 billion in sales last year, underscoring its dominant position in the oncology market.

This impressive performance highlights the innovative capabilities of CRISPR Therapeutics, a company on the brink of significant clinical and regulatory milestones. With the introduction of Casgevy, CRISPR Therapeutics is expected to enhance its financial standing over the next five years. Investors who consider initiating positions in the company today could potentially enjoy substantial returns as the decade progresses.

CRISPR Therapeutics boasts a robust pipeline of promising candidates, with years of research in gene editing finally beginning to bear fruit. The company is particularly focused on developing groundbreaking treatments for serious diseases, including type 1 diabetes, for which no functional cure currently exists. Furthermore, CRISPR's CTX112, a therapy aimed at treating B-cell malignancies, has received the prestigious Regenerative Medicine Advanced Therapy designation from the U.S. Food and Drug Administration. This designation signifies that the treatment addresses a serious condition and has demonstrated early efficacy.

Despite the recent success of Casgevy, the first CRISPR-based gene-editing medicine to obtain regulatory approval, CRISPR Therapeutics has struggled in the stock market over the past 18 months. The company faces significant challenges, as therapies like Casgevy require time to be administered and are yet to generate substantial revenue. However, the treatment, which addresses two blood-related disorders, faces minimal competition and is projected to exceed $1 billion in sales. Even with potential profit-sharing agreements with Vertex Pharmaceuticals, CRISPR Therapeutics stands to gain enormously from this venture.

Three contributors from The Motley Fool believe they have pinpointed exceptional stocks that might double or even more by 2030. They have highlighted CRISPR Therapeutics (NASDAQ: CRSP), Summit Therapeutics (NASDAQ: SMMT), and Viking Therapeutics (NASDAQ: VKTX) as compelling investment opportunities at this time.

In the midst of a turbulent stock market, it can be easy for investors to overlook periods of optimism. However, current sell-offs may offer an excellent opportunity to invest in stocks that have significant growth potential.

While Merck's market capitalization may not see a doubling by 2030, a formidable contender is emerging in Summit Therapeutics. The company is developing an innovative drug that could rival Keytruda, potentially creating a megablockbuster in the process.

Summit's partner, the Chinese pharmaceutical company Akeso, reported encouraging late-stage results last summer. Their experimental immunotherapy, ivonescimab, outperformed Keytruda in a head-to-head trial as a first-line treatment for non-small cell lung cancer (NSCLC). While Akeso is now marketing ivonescimab in China, Summit Therapeutics retains the commercial rights to this promising drug in key markets including the United States and Europe.

Summit Therapeutics anticipates sharing results from a late-stage study combining ivonescimab with chemotherapy as a second-line treatment for NSCLC in mid-2025. Additionally, they are exploring the use of ivonescimab as a first-line treatment both in combination with chemotherapy and as a stand-alone therapy, with an eye on targeting various types of cancer.

Given Akeso's previous positive outcomes, the likelihood of success for ivonescimab appears high. If the drug secures approvals from U.S. and European regulatory agencies, it could send Summit's share price soaring, potentially doubling or more by the end of the decade.

Turning our attention to Viking Therapeutics, the firm has faced a significant downturn in its stock price this year, plummeting by over 40%. However, this reduced valuation offers prospective buyers a more appealing opportunity than before. Previously, investors were paying a premium for a company that had yet to secure any approved drugs. With a current market cap of $2.4 billion, Viking is now positioned as a more viable investment option.

Viking is advancing several promising drug trials, including its GLP-1 drug, VK2735. A phase 3 trial is set to commence later this year, aimed at assessing its effectiveness for treating obesity and metabolic disorders. Meanwhile, a phase 2 trial for the oral form of VK2735 is already underway. Any positive news from either trial could significantly elevate Viking's stock value. Should the stock return to its previous highreaching nearly $9 billion in market capitalizationit could see a doubling or even tripling from its current valuation. Additionally, Viking is developing VK2809, a drug for non-alcoholic fatty liver disease, which may soon enter phase 3 trials.

While clinical trials are inherently uncertain, Viking's multiple ongoing projects suggest a promising outlook. With a more modest market cap, the stock seems attractive for investors willing to take some risks, as the potential payoff could be substantial.

Before making any investment in CRISPR Therapeutics, prospective investors should consider this critical information:

The Motley Fool Stock Advisor analyst team has recently identified what they believe are the ten most promising stocks for investors to buy right now, and notably, CRISPR Therapeutics did not make the cut. The ten stocks that did could yield exceptional returns in the coming years.

For perspective, if an investor had purchased $1,000 worth of Netflix stock when it was recommended by The Motley Fool on December 17, 2004, that investment would be worth an astonishing $495,226 today. Similarly, an investment of $1,000 in Nvidia when it was recommended on April 15, 2005, would have grown to approximately $679,900.

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*Stock Advisor returns as of April 5, 2025.

David Jagielski has no positions in any of the stocks mentioned. Keith Speights holds positions in Vertex Pharmaceuticals. Prosper Junior Bakiny has interests in both Vertex Pharmaceuticals and Viking Therapeutics. The Motley Fool has positions in and recommends CRISPR Therapeutics, Merck, Summit Therapeutics, and Vertex Pharmaceuticals, while also recommending Viking Therapeutics. The Motley Fool adheres to a strict disclosure policy.

This article, originally titled '3 Magnificent Stocks That Could Double or More by 2030,' was published by The Motley Fool.