Missed Out on Eli Lilly? 2 Healthcare Stocks With Big Catalysts on the Horizon.

Investors who picked up shares of Eli Lilly (NYSE: LLY) a few years ago likely are very happy right now. The pharmaceutical company has seen its revenue and stock performance soar thanks to its presence in a booming market -- and one that's positioned for more growth ahead. I'm talking about the weight loss drug market, one forecast to reach nearly $100 billion by the end of the decade.

Lilly's tirzepatide is sold as Mounjaro for Type 2 diabetes and as Zepbound for weight loss -- but doctors have prescribed either for patients aiming to lose weight. It's part of a class of drugs known as dual GIP/GLP-1 receptor agonists, which work by stimulating hormonal pathways involved in the digestion process.

Mounjaro and Zepbound have been driving double-digit revenue growth at Lilly, and each has reached blockbuster status. All of this has helped Lilly's stock climb more than 30% just this year -- it's advanced in the triple-digits over three years. But don't worry if you missed out on Eli Lilly's gain, and instead, check out the following two healthcare stocks with big catalysts on the horizon. They've both climbed in the double-digits over the past six months, and this could be just the beginning...

Image source: Getty Images.

1. Viking Therapeutics

Viking Therapeutics (NASDAQ: VKTX), like Lilly, is involved in the field of weight loss drugs, but Viking hasn't yet commercialized a product. The good news is Viking's candidates -- an oral candidate in phase 2 trials and an injectable in phase 3 -- are approaching the finish line, and study results have been strong so far. And since demand in the weight loss drug market is high, there's plenty of room for a new entrant to carve out share.

Viking's most advanced candidate -- the injectable -- in an earlier study showed average weight loss of as much as 14.7% after 13 weeks. And weight loss didn't plateau, suggesting patients could continue losing weight. Now, catalysts ahead are as follows: Viking aims to complete enrollment in one phase 3 trial by the end of the year and the other phase 3 study in the first quarter of next year. These are studies evaluating treatment over 78 weeks.

Viking also will meet with regulators during the current quarter to discuss the next step for its oral candidate, which met goals in a phase 2 dosing study.

Any of this progress could push shares of Viking higher in the months to come, making now a great time to get in on this biotech player.

2. CRISPR Therapeutics

CRISPR Therapeutics (NASDAQ: CRSP) works in the exciting field of CRISPR gene editing. This involves "fixing" faulty genes responsible for certain diseases, and the technology does this by cutting DNA at a certain location and relying on natural repair processes. The company won approval for its very first gene editing product, Casgevy for blood disorders, a couple of years ago. This was an important milestone, as it demonstrated that the technique works, suggesting it may be used in other disease areas.

CRISPR Therapeutics gained approval for the use of Casgevy in patients 12 and older and now is studying the potential treatment in phase 3 pediatric studies. The company will present data from those studies at the American Society of Hematology (ASH) annual meeting in early December. And the company also expects to report updates for candidate CTX112 in autoimmune diseases and oncology by the end of the year.

These reports, if positive, could send CRISPR Therapeutics' shares higher. On top of this, the company's Casgevy partner, Vertex Pharmaceuticals, says the treatment is on track for more than $100 million in sales this year and "significant growth" next year. This bodes well for the stock's performance over the long term, too.

So, if you missed out on Eli Lilly, don't worry: Viking Therapeutics and CRISPR Therapeutics might offer you a new opportunity for big gains over time.

Adria Cimino has positions in Vertex Pharmaceuticals. The Motley Fool has positions in and recommends CRISPR Therapeutics and Vertex Pharmaceuticals. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.