These two 'hidden gems' in health care are set to rally, Jefferies says

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These two 'hidden gems' in health care are set to rally, Jefferies says
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These under the radar healthcare stocks could have more room to run, according to Jefferies.

Health care stocks are off to a strong start for 2024, and Jefferies thinks some of the lesser-known names in the space could outperform as the Federal Reserve cuts rates. The S & P 500 health care sector is on pace for its best year since 2021, gaining more than 6%. Eli Lilly and DaVita have driven most of the gains soaring more than 30% each.

mountain Incyte Corp. stock. Jefferies analyst Kelly Shi thinks that while Incyte's revenue from its premier chemotherapy drug Jakafi will potentially suffer a $2.6 billion hole due to loss of exclusivity, the company's foray into dermatology can make up for the gap and improve revenue stream better than currently forecast.

mountain Star Surgical stock. Analyst Young Li thinks the company is the best long-term solution for treatment of myopia compared to current "refractive surgical solutions." She also notes that the company's 2024 full-year guidance leaves room for investor upside. "Mgmt. expects ~10% growth in the US and China with at least breakeven operating margin in '24," the note said.

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