3 Soaring Stocks That May Have More Upside Ahead

The article highlights three high-momentum names: Abivax +1,500% Y/Y on strong obefazimod ulcerative colitis efficacy and a planned approval submission by end-2026; Krystal Biotech +167% Y/Y after Q1 revenue of $116.4M (+32% Y/Y) and net profit of $55.9M (+56.5% Y/Y) driven by Vyjuvek; and Marvell +248% Y/Y with record FY2027 Q1 net revenue of $2.4B (+28% Y/Y) and adj. EPS of $0.80 (+29% Y/Y) as custom AI ASIC demand accelerates. Overall tone is constructive on further upside despite clinical/regulatory risks for Abivax and reliance on continued AI infrastructure spending for Marvell.

Analysis

MRVL is the cleanest actionable setup here, but the real trade is not “AI demand” so much as hyperscaler capex reallocation. Custom ASIC spend can expand Marvell’s wallet share even if unit growth in the overall AI buildout slows, but the market often underestimates how concentrated this revenue stream is: a handful of design wins drive the next 4-6 quarters, so a single customer pause can compress the multiple fast. The best risk/reward is relative value versus NVDA, because the thesis is share capture and diversification rather than a zero-sum collapse in AI demand.

KRYS looks like a higher-quality compounder than the article implies: once a rare-disease franchise gets into the reimbursement flywheel, the main risk shifts from launch execution to duration of demand and pricing power. The second-order beneficiary is not just KRYS’s own P&L, but also adjacent rare-disease platforms with differentiated delivery mechanisms; however, the market may already be capitalizing a lot of the ex-US rollout and pipeline optionality. If uptake slows in Europe/Japan or pipeline readouts disappoint, the stock can de-rate quickly because the story is still concentrated in one product.

ABVX remains binary and is the least suitable for momentum-chasing after a huge rerate. The upside is real if approval-path de-risking continues, but the market is paying today for a multi-year commercial story that still depends on clean data, filing timing, and a benign regulatory view; any safety wobble would hit both valuation and financing optionality. Contrarian take: the consensus is probably overestimating how durable the current enthusiasm is for early-stage IBD assets while underestimating how much better the risk-adjusted setup is in profitable biopharma and in MRVL’s “picks-and-shovels” AI exposure.

Key Decisions for Investors

• Long MRVL / short NVDA as a 3-6 month relative-value pair: thesis is custom-ASIC share gain and customer diversification, not broad AI beta. Use a stop if MRVL underperforms NVDA by ~8-10% after the next hyperscaler capex updates or if Marvell guides down AI/custom silicon revenue.
• Buy KRYS on pullbacks, ideally on any post-earnings volatility, as a 6-12 month compounder. Risk/reward is attractive if ex-US patient counts continue rising; invalidate if adoption outside the U.S. stalls or if management trims full-year revenue/launch assumptions.
• Avoid chasing ABVX on strength; treat as a watchlist/optionality name rather than core capital. If you want exposure, use call spreads only into a confirmed regulatory catalyst window; thesis breaks on any new safety signal, filing delay, or trial miss.
• If seeking broader AI exposure, prefer a basket tilted to infrastructure beneficiaries with recurring demand and lower customer concentration over headline AI winners. A simple hedge is long MRVL against a smaller short in high-multiple AI hardware names if custom silicon momentum keeps broadening.