Viking Therapeutics, Inc.

Novo Nordisk A/S

Eli Lilly and Company

Shares of biotech company Viking Therapeutics could triple, according to Canaccord Genuity, which in a <a href="https://www.cnbc.com/2025/10/29/biggest-analyst-calls-wednesday-include-nvidia-apple-tesla-datadog.html">coverage initiation</a> called the firm "one of the leading biotech companies in the obesity drug development space," now <a href="https://oninvest.com/article/gde-investoram-iskat-potencial-nyj-hit-na-rynke-preparatov-ot-lisnego-vesa">dominated</a>&nbsp;by Novo Nordisk and Eli Lilly.

Canaccord initiates on obesity drugmaker Viking with 'buy,' sees 200% upside

Atrium Therapeutics, Inc.

Novartis AG

Shares of Avidity Biosciences, a small developer of therapies for rare diseases including Duchenne muscular dystrophy, jumped more than 40% yesterday, October 27, to an all-time high. Investors reacted to news that Switzerland’s Novartis <a href="https://www.prnewswire.com/news-releases/avidity-biosciences-enters-into-agreement-to-be-acquired-by-novartis-ag-302594703.html">plans</a>&nbsp;to acquire the company at a premium to the market. The move sends a signal to investors in small-cap biotech: pharma majors increasingly prefer to buy externally developed assets rather than build them in-house. More transactions can be expected in the coming months, Noble Capital Markets <a href="https://www.channelchek.com/news-channel/novartis-12-billion-avidity-acquisition-strengthens-its-rare-disease-pipeline-amid-pharma-tariff-uncertainty">said</a>&nbsp;in a post.

Novartis $12 bln deal for Avidity sparks mid-cap biotech rally


Beyond Meat, Inc.

Alector, Inc.

Freedom Broker has pointed out the two small-cap stocks with the most pronounced moves last week (October 20-24). The outperformer was plant-based meat producer Beyond Meat, while the underperformer was biopharma company Alector, a developer of therapies for dementia.

Freedom Broker names biggest small cap outperformer and underperformer from last week

MapLight Therapeutics, Inc.

MapLight raised $259 mln by using a shutdown workaround, the first company to do so

Novo-backed schizophrenia drugmaker MapLight Therapeutics debuts on Nasdaq


BioAge Labs, Inc.

Citigroup has upgraded to "buy" shares of small-cap obesity drug developer BioAge Labs, calling the company’s lead molecule promising, with the first-in-human study recently <a href="https://ir.bioagelabs.com/news-releases/news-release-details/bioage-labs-announces-first-participant-dosed-phase-1-clinical">announced</a>. The upgrade <a href="https://finance.yahoo.com/quote/BIOA/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAANJzO7qhtq4ftfonGEodVUta3W7CcmJ8wkHgYAForTOSW-XBS4xlKF7KLyQk0L35CoYcX_jqygts2GD4qGMiFBIdNwS4SdNJF98C33sKbOp9lSNggPnmigup5BLKbWDPzB_A28f6kwvxv2u7wovLH2Nc3V4Qa7V3KMWqsBlp24tN">sent</a>&nbsp;the stock up more than 14%. Citigroup believes it could rise a further 70%.

Citigroup upgrades rating, TP on obesity drugmaker BioAge amid upcoming clinical data

Minerva Neurosciences, Inc.

Quotes of Minerva Neurosciences, a micro-cap developer of a drug against negative symptoms in patients with schizophrenia, <a href="https://finance.yahoo.com/quote/NERV/">soared</a>&nbsp;140% in one day. The company, which is worth just $44.8 million on the Nasdaq, <a href="https://ir.minervaneurosciences.com/news-releases/news-release-details/minerva-neurosciences-announces-financing-200-million-advance">said</a>&nbsp;it had raised up to $200 million to complete trials of its drug and will, if they prove successful, file for approval and prepare for a commercial launch.

Minerva soars 140% on up to $200 mln raise to finish schizophrenia drug trial

NeuroSense Therapeutics Ltd.

Noble Capital Markets has initiated coverage of NeuroSense Therapeutics with an “outperform” rating and a target price of $9 per share. Thus, it estimates the micro-cap developer of an amyotrophic lateral sclerosis therapy could rise 620% from current levels. The analysts cite mid-stage trial results of the company’s lead drug PrimeC, which open the way for accelerated registration and earlier commercialization.

Noble initiates on ALS drugmaker NeuroSense with 'outperform', TP for 600% upside


Rani Therapeutics Holdings, Inc.

Lexaria Bioscience Corp.

Shares of Rani Therapeutics Holdings, a developer of a technology that turns injections into pills, <a href="https://finance.yahoo.com/quote/RANI/">soared</a>&nbsp;nearly 250% on Friday, October 17. Trading volume was almost 60 times the daily average. The company <a href="https://ir.ranitherapeutics.com/news-releases/news-release-details/rani-therapeutics-announces-oversubscribed-603-million-private">delivered</a>&nbsp;two announcements: a collaboration with Japan’s Chugai Pharmaceutical potentially worth $1.09 billion, and a $60.3 million private placement.

Biotech Rani rockets 250% in a day on Chugai collaboration, private placement

The retail price of Ozempic, which Trump has called a "weight-loss drug," is about $1,000 for a one-month course

Trump has promised to cut the price of Ozempic to $150. Novo Nordisk and Eli Lilly shares fell

aTyr Pharma, Inc.

Shares of aTyr Pharma, a biotech developer of therapies for pulmonary sarcoidosis, collapsed 83% in a single day on September 15 after the company’s lead drug <a href="https://investors.atyrpharma.com/news-releases/news-release-details/atyr-pharma-announces-topline-results-phase-3-efzo-fittm-study">failed</a>&nbsp;in a pivotal phase III trial. The candidate, efzofitimod, showed little advantage over placebo in reducing steroid dependence among patients. This marks <a href="https://finance.yahoo.com/news/atyr-shares-plunge-trial-miss-121100328.html">another setback</a> for aTyr, which seven years earlier halted its cancer research program after disappointing preclinical results that cut its market value nearly in half.

After lead drug misses in late trial and stock craters, what's next for aTyr? 

Anixa Biosciences, Inc.

The fair value of micro-cap biotech Anixa Biosciences, which is developing, among other projects, a cancer vaccine, is almost three times higher than the current share price, Freedom Broker estimates. The firm has initiated coverage of the stock with a "buy" recommendation. Analysts note that Anixa’s early-stage developments have shown encouraging results and that the company has sufficient cash to finance its programs without diluting shareholders in the near term. The broader biotech sector is also showing signs of sustainable growth.

Freedom Broker initiates on biotech Anixa with 'buy' at TP implying 177% upside

Pfizer Inc.

The share price appreciation is giving Wall Street confidence that after a prolonged "winter" in biotech is finally beginning to thaw

Biotechnology