Top Growth Picks: 3 Affordable Stocks with Potential to Double in Value

Top Growth Picks: 3 Affordable Stocks with Potential to Double in Value

Hims & Hers Health Inc. (NYSE: HIMS): Telehealth Pioneer with Challenges Ahead

Hims & Hers Health Inc. has experienced a remarkable 224% increase in its stock value over the past year, a performance comparable to leading tech companies. However, some analysts caution that the company may face significant challenges, particularly from competitors such as Amazon.

A notable concern revolves around the company's reliance on GLP-1 drugs, which contributed substantially to its 2024 revenue. If drug shortages at major companies like Eli Lilly & Co. (NYSE: LLY) subside, Hims & Hers may lose its ability to sell compounded versions of these medications.

Despite this challenge, the company is positioning itself as a leader in modern healthcare, emphasizing telehealth services, licensed prescribing, and customized medication. It has already demonstrated success in areas such as men’s sexual health, performance, and hair loss treatments. In 2025, the company plans to expand its focus to women’s health by introducing menopause treatments.

Hims & Hers has consistently grown its subscriber base by over 60% annually for the past three years. Although future growth may already be factored into the stock’s price, the company’s commitment to innovation could drive continued success.

Joby Aviation Inc. (NYSE: JOBY): A Leader in Flying Taxis

Joby Aviation is at the forefront of the electronic vertical take-off and landing (eVTOL) industry, often referred to as the flying taxi market. While still in the pre-commercial phase, the company is targeting 2025 for the launch of its vehicles, contingent upon FAA certification. Encouragingly, Joby reached the final stage of the certification process in December 2024.

The company is financially well-positioned, having secured over $700 million in funding, including $500 million from Toyota Motor Corp. (NYSE: TM). With its current cash burn of approximately $100 million per month, Joby appears to have sufficient resources to transition into production.

Although Joby’s stock doubled in 2024, it has since dropped over 7% in January 2025, partly due to insider selling. However, many of these transactions are pre-planned and not necessarily indicative of stock performance.

The company’s ability to avoid setbacks will be crucial. If Joby continues making progress toward commercialization, analysts could increase their price targets above the current consensus of $9.30, which represents a 12% upside from its January 16 price.

Hudbay Minerals Inc. (NYSE: HBM): Positioned for Growth Amid Rising Gold Prices

As gold prices stabilize and trend higher, Hudbay Minerals is emerging as a strong performer in the mining sector. In the past year, the stock surged 60%, and analysts have set a price target of $11.17, reflecting a potential 30% gain.

The company recently achieved a milestone with the production of one million ounces of gold at its Lalor mine in Manitoba, Canada. With continued uncertainty around U.S. budget deficits, gold prices are expected to remain robust in 2025.

Hudbay also provides exposure to other valuable metals, including copper, silver, molybdenum, and zinc. While copper underperformed in 2024, analysts remain optimistic about its long-term prospects due to increasing demand for data centers and renewable energy infrastructure.

Currently trading near its 50-day moving average as of January 16, 2025, Hudbay’s stock could gain momentum leading up to its February earnings report. If market conditions align, the stock has the potential to double in the next 12 months.

Conclusion

Each of these companies—Hims & Hers Health, Joby Aviation, and Hudbay Minerals—offers unique growth opportunities. While challenges remain, their innovative strategies, market positioning, and potential catalysts make them promising picks for investors seeking affordable stocks with significant upside potential.