The 2024 market rally has breathed some life into several stocks that were left behind in 2023. The S & P 500 is about 4% higher for the year, hovering near the 4,950 level. The Russell 1000 , which tracks the top 1,000 largest companies — large- and mid-cap names — is up about 3% in 2024. While the broad market rally still remains mostly concentrated around the big tech names, several of 2023’s laggards have begun to bounce back. With this in mind, CNBC Pro screened for the stocks making a comeback in 2024. The following names are are in the major benchmarks, and feature several biotech stocks. Take a look at where analysts think they’re going next. Pharmaceutical giant Merck has rallied nearly 16% in 2024, after ending 2023 down 1.7%. Shares reached a 52-week high on Friday. Merck’s better-than-expected fourth-quarter performance has powered the stock. The company has seen strong demand for its blockbuster cancer drug Keytruda and HPV vaccine Gardasil. Around 65% of analysts covering the company rate it a buy, according to LSEG, formerly known as Refinitiv. However, the consensus price target is just 4.6% from its current levels — putting into question whether there’s more room for upside. Verizon is another name making a comeback this year, with shares surging 35.7% year to date. This comes after the stock fell more than 4% in 2023. Shares rallied after the company posted a revenue beat in the fourth quarter. To be sure, analysts remain skeptical on the stock. Barclays downgraded shares to equal weight from overweight on Jan. 31, saying its valuation “more fairly aligned” with trend improvements. Just 35.7% of analysts are bullish on the shares, and the average price target implies shares can grow just 4.3%. VZ YTD mountain Verizon shares Contract drug manufacturer Catalent is another name making a bounce back upward. The stock is up 18.2% in 2024 after finishing 2023 nearly flat. Meanwhile, the average price target is more than 5% below the stock’s current levels, suggesting a pullback may be in sight, according to analysts polled by LSEG. The company has been in the news lately as it has signed on to help Novo Nordisk ramp-up supplies of its popular anti-obesity medication Wegovy. Sarepta Therapeutics has soared 27.4% this year — and it could jump 20.1% more according to its consensus price target, per LSEG. The biotech company tumbled nearly 26% in 2023 after its Duchenne muscular dystrophy gene therapy Elevidys failed to reach its main goal in a late-stage trial that would have expanded its use. Sarepta has approval to treat four- to five-year-olds who have DMD. The company has other treatments for the muscle wasting disease in its pipeline. Nearly three-quarters of analysts covering the stock rate it a buy, according to LSEG. SRPT YTD mountain Shares of Sarepta in 2024
