Finding the right stock to invest in requires time, industry-relevant knowledge, and days if not months of research. However, it is sometimes good to see what real-life individual investors are looking at and/or investing in to inform your trades. After careful evaluation, this article lists the top five stocks to watch in 2024 based on the comments, posts, and views of top experts on Reddit. Remember that a mix of technical and fundamental analysis is needed before you trade stocks, but we’ve created a small list to inform your investment strategy and trades. 

Novo Nordisk (A/S)  (NYSE: NVO)

Novo Nordisk (NVO) stock has risen recently after it presented encouraging efficacy data on a new investigational oral obesity pill, amycretin. Their weight loss drugs Ozempic and Wegovy are popular and powerful. So popular that Denmark’s GDP has risen. Early results show that the oral version of amycretin causes users to lose 13% of their body weight after 12 weeks of treatment. 

Novo Nordisk stock was up more than 8% to a record high in Monday morning trading, at about $135 per share. In 2019, the stock was trading at $23 and is now trading at $131 - $132 per share. That is growth and obesity reaps throughout the world, so it's a good stock to own. There is very little to say, other than that innovation, strong management, and marketability have pushed the stock higher. 

Sana Biotechnology Inc. (SANA)

Sana Biotechnology is a gene-editing company that creates engineered cells for patients to treat specific illnesses. The company’s gene-editing technology has seen a surge in interest over the last year. Sana has already secured three investigational new clearances from the U.S. Food and Drug Administration in 2023. The company gained clearance for SC291, used to treat patients with B-cell malignancies and autoimmune diseases. It equally gained clearance for SC262 to treat patients with B-cell malignancies that are refracted or relapsed. These are all positive signs that have caused the stock to rise 146.1% year-to-date. 

Immunome Inc. (IMNM)

Immunome is a biopharmaceutical company that uses a unique human memory B cell platform to develop antibody therapies. The stock got a huge boost when it announced its plan to acquire desmoid tumor treatment from Ayala Pharmaceuticals for $50 million. The treatment (AL102) is a daily oral treatment used for desmoid tumors currently at late-stage clinical trials and has demonstrated efficacy, with the ability to supplant Ogsiveo as the most effective desmoid tumor treatment on the market. Investors and traders are betting big on AL102, and the stock has risen by 126.2% year to date.

Ocular Therapeutix Inc. (OCUL)

Ocular Therapeutix is a biopharmaceutical company that develops therapies to treat eye conditions using its proprietary Elutyx formulation technology. Its only commercial drug - Dextenza - is approved for treating ocular inflammation and pain after ophthalmic surgery. It is equally approved to treat ocular itching associated with conjunctivitis. Ocular's lead clinical program - OTX-TKI (axitinib intravitreal implant) - is being developed to treat age-related macular degeneration and diabetic retinopathy. In 2024, the stock rallied about 34% in late February after the company announced a $325 million private placement deal, and the stock is now up  125.5% this year. 

OncoSil (ASX: $OSL)

Oncosil is a company that offers innovative treatment solutions and therapeutics for individuals who are battling cancer. It is targeted at pancreatic cancer and could be a viable option for the King Charles of England who is currently rumored to have pancreatic cancer. He could be treated in London or one of OncoSil’s four treatment centers or possibly move to Australia to escape the British press. OncoSil Medical Ltd (ASX: $OSL) is making a difference in cancer treatment by selectively targeting tumors while sparing healthy tissue.  It inserts radiation through a targeted radiation device that is implanted directly into the pancreatic rumpus. The share price is set to rise by over 4000% in 2024 as its cancer treatment is now sold in over 30 countries. 

These stocks show promising potential for 2024 and OncoSil is set to rise at the fastest pace compared to the other stocks. Recent chatter about a potential treatment for King Charles has generated interest in the stock. Meanwhile, the prospects for Ocular Therapeutix Inc. (OCUL), Immunome Inc. (IMNM), Sana Biotechnology Inc. (SANA), and Novo Nordisk (A/S)  (NYSE: NVO) are equally bright for 2024. These stocks are set to outperform throughout the year and present a good buying opportunity.

It is important to note that there are risks associated with trading stocks, so it is important to conduct fundamental and technical analyses to inform your trading decisions. Furthermore, it is important to note the uncertainty associated with trading stocks based on an imprecise indicator such as Reddit but these views cannot be discounted based on our technical analysis. However, these five healthcare stocks have shown great potential so far in 2024, and their share price performance coupled with innovative approaches will make them important stocks to watch for 2024.