Biopharmaceutical stocks are in focus on Monday after Bristol-Myers Squibb (BMY) announced an $11 billion partnership with BioNTech (BNTX) at the world’s largest cancer conference, the American Society for Clinical Oncology (ASCO), in Chicago. 

However, there are two other cancer-focused biopharma stocks, Actuate Therapeutics (ACTU) and PDS Biotechnology (PDSB), that analysts seem most bullish on for the next 12 months. 

In fact, both of them could at least double from current levels within a year based on analyst price targets. 

Actuate Therapeutics Stock Could Soar to $32

Actuate Therapeutics presented positive data from a Phase 2 trial of its candidate treatment, elraglusib, in previously untreated metastatic pancreatic cancer patients at the ASCO. 

Elraglusib in combination with gemcitabine/nab-paclitaxel (GnP) improved the survival rate from 7.2 months to 10.1 months on average (clinically significant) in the mid-stage trial. 

ACTU now plans on consulting with the FDA on the next steps toward potential approval by year end. The biopharmaceutical stock is currently up more than 75% versus its year-to-date low. 

The positive update made Craig-Hallum analyst Albert Lowe reiterate his “Buy” rating on Actuate Therapeutics stock and raise his price target to $32. His upwardly revised target signals potential for a 200% rally from here. 

According to Barchart, the consensus rating on ACTU shares based on two analysts also sits at “Strong Buy” at the time of writing.  

PDS Biotechnology Shares Have Upside to $5

PDS Biotechnology also presented encouraging data from multiple clinical trials evaluating its immunotherapy candidate, Versamune HPV (PDS0101), in combination with pembrolizumab for the treatment of HPV16-positive head and neck squamous cell carcinoma at the ASCO. 

All patients receiving the combination therapy achieved stable disease or partial response. The said combination also met the primary endpoint of a 50% reduction in circulating tumor DNA (ctDNA). PDS Biotechnology stock is up more than 60% vs. its year-to-date low at the time of writing. 

Following the positive clinical update, B. Riley analyst Mayank Mamtani recommended owning the biotechnology stock as shares could soar to $5 over the next 12 months. 

His price target translates to potential upside of well over 200% from current levels. 

Much like Actuate Therapeutics, data from Barchart suggests the consensus rating on PDSB shares currently sits at “Strong Buy” (also based on two analysts).