Ahead of the U.S. presidential election results, the October jobs report and a Federal Reserve meeting, Wall Street is seeking to bounce back from the market’s worst week since March.Sure, plenty of uncertainty hangs in the balance, with investors worried that the election outcome will be contested. However, some Wall Street pros argue that even if there’s a post-election decline, it will likely be temporary. Then, after any panic or shock dissipates, the market could tick back up again. To this end, any weakness following the election could present investors with an opportunity to snap up compelling stocks at more attractive entry points.Bearing this in mind, we used TipRanks’ database to pinpoint three stocks that the analysts believe could soar at least 100% in the year ahead. Not to mention, all three boast a “Strong Buy” consensus rating.Orbcomm (ORBC)As one of the leading providers of industrial IoT and M2M solutions, Orbcomm helps its customers remotely track, monitor and control fixed and mobile assets. With shares trading at a 52-week high, Wall Street sees big things in store.Writing for Canaccord, 5-star analyst Michael Walkley was impressed with ORBC’s Q3 performance, given the uncertain macro environment. Revenue of $61.7 million beat the analyst’s estimate by 3%, and adjusted EBITDA came in at $14.3 million, easily exceeding his $12.9 million call. This result underscores “management’s ability to maintain costs as it achieved its cost savings program ahead of plan.”Its subscriber count of 2.1 million landed just below Walkley’s estimate of 2.2 million as the company added 40,000 net subscribers in the quarter but deactivated 90,000 non-revenue generating subscribers that were incurring costs as a result of platform integrations. “We are encouraged ORBCOMM is maintaining its subscriber base better than many of its peers who continue to struggle with higher churn levels during the pandemic,” he commented.It should be noted that ORBC remains committed to helping its customers transport food and medicine during these times, and thus, a significant portion of its recurring revenues are protected, according to Walkley.“With ORBC shares trading at roughly 4x EV/EBITDA for our introduced 2022 adjusted EBITDA estimate, we view the risk-reward as very positive… ORBCOMM is well positioned with its subscriber base to drive consistent adjusted EBITDA through its high-margin recurring revenue solutions,” Walkley explained.On top of this, the company has been improving its cost structure by reducing hardware SKUs from 160 to 40, moving to one ERP system from 13 and consolidating 25 web platforms down to 2, with its consolidated platforms potentially leading to “longer-term margin expansion,” in Walkley’s opinion.Going forward, as ORBC boasts over $76 million in cash, Walkley believes the company is “well positioned to consolidate market share and return to 10% organic revenue growth longer-term.” Once organic growth returns to 10%, management expects to generate 20% adjusted EBITDA growth, based on improving trends in transportation and a lineup of new products targeted toward the shipping industry.Summing it all up, Walkley stated, “We believe ORBCOMM’s improving balance sheet, strong cash flow from operations, and high margin recurring revenue base position the company well to endure an extended downturn.”As a result, Walkley stayed with the bulls. In addition to a Buy rating, he bumped up the price target from $8 to $9. Investors could be pocketing a gain of 100%, should this target be met in the twelve months ahead. (To watch Walkley’s track record, click here)Judging by the consensus breakdown, opinions are anything but mixed. With 3 Buys and no Holds or Sells assigned in the last three months, the word on the Street is that ORBC is a Strong Buy. At $7.67, the average price target implies 70% upside potential. (See ORBC stock analysis on TipRanks)Aerie Pharmaceuticals (AERI)Next up we have Aerie Pharmaceuticals, which is an ophthalmic pharmaceutical company focused on the discovery and development of first-in-class therapies for the treatment of patients with glaucoma, retinal diseases and other diseases of the eye. Shares have slumped 55% year-to-date, but a new deal could be a game changer, according to some members of the Street.On October 28, AERI and Santen Pharmaceutical revealed they reached an exclusive agreement granting Santen the commercial and development rights to Rhopressa, its therapy for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma (OAG) or ocular hypertension (OHT), and Rocklatan, the first and only fixed-dose combination of a prostaglandin plus ROCK inhibitor designed to reduce IOP, in Japan and eight other countries in Asia.As per the terms of the agreement, AERI will receive an upfront cash payment of $50 million, and is eligible for an additional $99 million in development and sales milestone payments, as well as sales royalties in excess of 25%. Additionally, the two companies will collaborate on the first Japanese Phase 3 Rhopressa trial, which is expected to kick off in Q4 2020. After this, Santen will be responsible for all of the development and commercial costs.Weighing in for Mizuho Securities, analyst Difei Yang commented, “We are encouraged by the Japan and East Asia (ex-China) licensing deal for Rhopressa and Rocklatan announced by Aerie and Santen Pharmaceuticals.” The analyst points out that based on the approval history of Rhopressa and Rocklatan to-date, the development milestone seems “particularly lower risk.”What’s more, Yang argues that Rhopressa and Rocklatan’s mechanism of action makes the therapies stand-outs in the glaucoma space, with the “terms of the deal underscore the potential global value of Aerie’s glaucoma franchise.” The analyst also thinks the deal helps Aerie maintain capital flexibility.Yang added, “We believe that the selection of Santen Pharmaceuticals as a commercial partner should help with the commercial launch in the aforementioned regions. Santen is a sizable (FY20 revenue: $2.2 billion) ophthalmology company that operates in Japan, East Asia, China and Europe.”It should come as no surprise, then, that Yang left a Buy rating and $27 price target on the stock. What’s in it for investors? Upside potential of 150%. (To watch Yang’s track record, click here)In general, other analysts echo Yang’s sentiment. 10 Buys, 1 Hold and 1 Sell add up to a Strong Buy consensus rating. With an average price target of $26.91, the upside potential comes in at 147%. (See AERI stock analysis on TipRanks)Soliton (SOLY)Through its Rapid Acoustic Pulse (RAP) device that uses acoustic shockwaves, Soliton speeds up the tattoo removal process and helps clients remove cellulite. While shares have struggled in 2020, the Street believes the tides are turning.It’s no secret that the COVID-19 pandemic weighed on the aesthetic device space, as non-essential procedures were halted and hospitals shut their doors to sales representatives. However, Maxim analyst Anthony Vendetti notes that the market is rebounding more quickly than he originally thought it would, and thus, he expects the aesthetic industry “to come out of the pandemic leaner and poised for growth.”Looking specifically at Soliton, Vendetti told clients, “We believe SOLY’s RAP device is a superior adjunct technology that can tap into both the multi-billion dollar tattoo removal and cellulite reduction markets.”SOLY is gearing up for the commercialization of its RAP device, which was delayed due to COVID-19. This commercialization includes a collaboration with Sanmina Corporation, a large contract manufacturer for the production of the RAP device, entering into a distribution and sales agreement with Aesthetic Solutions to distribute the RAP device during the initial U.S. launch and hiring a public relations and marketing firm.Adding to the good news, SOLY’s 510(k) filing for the cellulite indication was accepted by the FDA and is now under substantive review. To this end, Vendetti believes clearance will come by Q1 2021, although it could possibly come before the end of 2020, followed by a limited rollout to 20-25 KOLs in 2021 for both the tattoo and cellulite indications, assuming the latter is approved. “Following feedback from the KOLs, we expect a full commercial launch in 2022,” he noted.Given that SOLY is pre-revenue, Vendetti thinks the key areas to pay attention to are how the company will manage its cash burn, any updates on the 510(k) application for the RAP device’s cellulite indication and commercialization preparation for the limited launch of the RAP device.The strong growth potential of the RAP device in multiple markets prompted Vendetti to reiterate a Buy rating and $22 price target, suggesting 205% upside potential. (To watch Vendetti’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings have been issued in the last three months. Therefore, the message is clear: SOLY is a Strong Buy. Based on the $16 average price target, shares could soar 123% in the next year. (See SOLY stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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