2 Monster Growth Stocks That Can Double in Value, According to Wall Street

Are you looking for some growth stocks than can double in value? Two stocks that analysts appear to be bullish on right now are Intellia Therapeutics (NTLA -1.37%) and Rivian Automotive (RIVN 2.84%).

Although these stocks each currently trade near 52-week lows, they have the potential to generate some great long-term returns. There's some risk with these stocks, but here's why they could offer plenty of upside for investors willing to take a chance.

1. Intellia Therapeutics

Gene-editing specialist Intellia Therapeutics has admittedly been a stress-inducing investment over the past year as its share price is down about 45%. The company generated $52 million in revenue last year but it incurred a net loss of $474 million. Despite those underwhelming results, Wall Street analysts remain optimistic that the stock can be a great buy. The consensus analyst share price target tops $86 over the next 12 to 18 months, which implies an upside of around 150%.

At a modest market cap of just over $3 billion, the company doesn't have an approved gene therapy product that generates revenue for the business (its current revenue comes from collaboration efforts with other companies). But it does have some promising early-stage clinical trials ongoing that could potentially lead to growth opportunities.

NTLA-2002, for example, is a gene-editing therapy for hereditary angioedema (HAE), which is a rare genetic condition that involves severe swelling underneath the skin. Approximately 1-in-50,000 people have the condition and those with the condition need to undergo ongoing intravenous or subcutaneous treatments (which are lifelong therapies). Intellia is in the process of beginning phase 2 trials for NTLA-2002, which is a treatment that aims to prevent future attacks from HAE after just a single dose. 

Another promising gene-editing therapy, NTLA-2001, is for transthyretin amyloidosis, a potential life-threatening illness that may impact the nerves, heart, kidney, and eyes. NTLA-2001 is also in early-stage trials.

The risk for investors is that early-stage trials may not end up being successful, so Intellia is your typical high-risk, high-reward type of investment. It could be multiple years before investors know whether any of its gene-editing treatments end up obtaining approval, and even longer before they start generating significant revenue.

If you're comfortable taking on that risk, this can make for a promising healthcare stock to own as there's definitely plenty of potential for Intellia.

2. Rivian Automotive

Electric vehicle (EV) manufacturer Rivian Automotive is another stock that analysts are bullish about, and it too has fallen sharply in value. Over the past 12 months, the stock is down 62%. The company plans to produce 50,000 EVs this year, which is about double what it made last year.

The emerging EV market is what has investors bullish on Rivian and similar stocks. Estimates from Fortune Business Insights project that the global electric vehicle market will be more than $1.3 trillion in 2028, and that it will grow at a compound annual rate of more than 24% until then. It's a terrific growth opportunity, and it's one that Rivian hopes to take advantage of.

The problem right now is that the company's operations are deep in the red. Last year, Rivian reported $1.7 billion in revenue, which was a big increase from just $55 million the year before. But that was still less than the $1.8 billion it incurred in selling, general, and administrative expenses alone. Over the past two years, the company's net loss totaled a combined $11.4 billion. Last year, it also burned more than $5 billion in cash just from its day-to-day operating activities. But with $11.6 billion in cash and cash equivalents on its books at the end of the year, the company is still in OK shape from a cash perspective.

As the company's operations scale up, costs per vehicle should come down as Rivian benefits from economies of scale. However, it could be a long road ahead before the company ever becomes profitable -- assuming it can. And for investors, that also makes it a risky investment.

Given the potential downturn in the economy this year and demand perhaps not being as strong for the company's high-priced vehicles, the safer approach for investors may be to wait on the sidelines for now. But if you're willing to take on the risk, you could set yourself up for some significant profits in the future. Ultimately, it'll come down to how much risk you can stomach, because it could be a bumpy road ahead for Rivian investors.