2 Growth Stocks to Buy Hand Over Fist in July

These companies are poised to duce fireworks for your portfolio over the coming years

Yet, the broader market is once again near all-time highs, a testament to the benefits of being an optimist with patience on Wall Street

However, that doesn't mean that there aren't opportunities

In the stock market, there's always a deal somewhere

Two growth stocks in the healthcare industry stand out in particular

Here is what you need to know each one and why investors should consider buying them hand over fist in July

Image source: Getty Images

This pharmaceutical giant could soon take first place in the red-hot weight loss drug market GLP-1 agonists, a type of drug used to treat diabetes and weight loss, could be the hottest growth story in healthcare today

However, Eli Lilly could gain on, perhaps even surpass, its rival over the coming years

The company has two potential game-changers on the way

First is Orforglin, an oral GLP-1 pill and the first oral small-molecule GLP-1 to pass a phase 3 study

It's significant because patients may prefer a pill to an injection, which the current leading GLP-1 drugs are, and its small-molecule structure could make it easier and cheaper to duce

Additionally, Eli Lilly is Retatrutide as the successor to Tirzepatide, the active drug in Mounjaro and Zepbound

Retatrutide is also in phase 3 studies, and thus far, its ability to target multiple hormones has shown significant efficacy potential

Across the aisle, Novo Nordisk is CagriSema, its successor to Semaglutide, the active drug in Ozempic and Wegovy

However, CagriSema has struggled to outperform its predecessor, which has worried investors and weighed on Novo Nordisk's price

Eli Lilly's price-to-earnings (P/E) ratio is a bit steep at nearly 65

That said, the anticipated growth is sufficient to justify purchasing this winning weight loss stock, as these new drugs, barring any unexpected clinical failures, arrive on the market over the next couple of years

This gene-editing company finally looks ready to der on its potential Gene editing has been the stuff of movies and science fiction for years, but it's a very real nology

The stock has bounced around for years as a pre-revenue company, but that is starting to change

CRISPR Therapeutics has begun ramping up commercialization efforts for Casgevy, a therapy developed in a joint venture with Vertex Pharmaceuticals, for the treatment of sickle cell disease and beta-thalassemia

It works by modifying the blood-forming stem cells in patients to duce healthy blood cells

It is the first treatment utilizing a novel genome editing nology to receive regulatory apval from the U

Food and Drug Administration

It could be a sign of what's to come

CRISPR Therapeutics currently has five additional therapies in clinical trials

The stock offers high-end long-term upside but trades at a reasonable price today

Again, that's next year's revenue, so it's hard to say the stock is cheap

Justin Pope has no position in any of the stocks mentioned

The Motley Fool has positions in and recommends CRISPR Therapeutics and Vertex Pharmaceuticals

The Motley Fool recommends Novo Nordisk

The Motley Fool has a disclosure policy.