Unlock the Profit Potential in AI Healthcare Innovation with This Leading Biotech Stock
Before we dive into today’s top tech stock for cryptocurrency investors, let me introduce myself…
…I’m Alex Kagin, Director of Technology Investing Research at Money Map Press. I’m here to make sure that American Institute for Crypto Investors readers are getting access to all of the top-performing artificial intelligence (AI) investments this emerging industry has to offer.
While Nick Black handles the cryptocurrency, blockchain, and Web3 side of things, I’m going to bring you a new stock each week related to these emerging technologies, including artificial intelligence.
Because these days—AI is everywhere. News coverage of AI-related topics is up by over 400% since May 2022. Whether it’s ChatGPT, Stable Diffusion, or MidJourney—everyone is talking about it.
But the most significant sector of AI development is still vastly ignored by the media because none of these AI tools will have as profound an impact on humanity as AI will in healthcare.
Investing in AI healthcare solutions has been the focus of major health institutions since the beginning of the year. The National Institute of Health (NIH) is investing $130 million in AI-related biomedical and behavioral research and the U.K. government is investing $17 million into AI diagnostic tools for cancer, rare diseases, premature birth, and overall treatment accuracy.
Other major AI healthcare investors include Microsoft and Johnson & Johnson who are partnering to develop diagnostic tools for infant eczema and other skin diseases, including cancer. Cedar Gate Technologies, a Connecticut-based medical technology company is developing AI that identified individuals at risk for diabetes with 80% accuracy.
Given the remarkable implications of these AI advancements, investing in healthcare-related AI development will be critical in the years to come. Stocks with exposure to this sector should experience rampant growth as a result.
And with a projected $188 billion market by 2031 (a compound annual growth rate of 40%), this biotech pick has long-term value written all over it…
Life-saving advancements from companies like Lantheus Holdings (NASDAQ: LNTH) are part of the reason that the AI healthcare sector is projected to reach $188 billion by 2031.
Lantheus Holdings is using AI to diagnose diseases in its earliest stages through its technology and AI applications. Its PYLARIFY AI platform is used to standardize quantification for PSMA PET/CT scans, which is already showing improvements in patient outcomes.
The platform can read scans and deduce if cells are cancerous based on massive amounts of patient data. In late 2022, the company carried out a medical study that showed higher efficiency and consistency in assessing PSMA imaging for prostate cancer using the PYLARIFY platform.
The company reported that over 1,000 customers have ordered PYLARIFY, with a repeat order rate of 97%. The platform could also be used for other types of screenings, like coronary artery disease, which impacts over 18 million adults in the United States. Given a $1.6 billion addressable market for U.S. PSMA PET Imaging and just $160 million in revenue last quarter, LNTH has plenty of room for growth.
Even though the growth rate is expected to decelerate, profitability is continuing to improve, with projected earnings per share (EPS) of 5.0 and 5.46 in 2023 and 2024, respectively. The company’s free cash flow is also expected to increase from $281.8 million over the past twelve months to $349.4 million in the following year. Currently priced at around $80, some analysts expect the price to reach $120 in the next year for a 50% return from today’s price.
While AI isn’t ready to completely take over healthcare entirely, improved outcomes will make a tremendous difference in the battle against diseases and medical conditions we’ve been fighting for centuries.
Considering its financial position, state-of-the-art AI imaging technology, and room for growth in a rapidly expanding market—Lantheus Holdings is a leading stock on our emerging tech profits watchlist.
Looking for more AI profit plays? Unlock the full potential of artificial intelligence with four additional AI picks from Chief Crypto Strategist Nick Black here.
Take care,
Alex Kagin
Director of Technology Investing Research, Money Map Press