Wall Street analysts can get a bit optimistic with their price targets. So when I see calls for triple-digit upside, I take them with a grain of salt. But the three stocks I’m profiling today have targets so high I had to do a double-take.

Analysts forecast these stocks to soar around 2,800% from current levels if their ambitious projections materialize. Now, such returns are obviously on the highest end of probabilities – a lot would need to go right. However, analysts arrive at these targets for a reason. At a bare minimum, it signals the depths of undervaluation after massive declines. Massive interim rallies could materialize for patient investors with higher risk tolerances regardless of longer-term targets falling short.

Even a 50-100% total return would exceed S&P500 gains. So, while success is far from assured, I’m intrigued enough to dig deeper into these three opportunities.

Palatin Technologies (PTN)

After years of extreme volatility, Palatin Technologies (NYSEMKT:PTN) seems to have finally bottomed out. This clinical-stage biopharma develops novel drugs targeting the melanocortin receptor system with vast therapeutic potential for inflammatory diseases, heart failure, and more.

While I can’t guarantee we’ve seen the trough in PTN, promising signs are emerging. Both revenue and margins are expanding again after stabilizing its base business. If Palatin can demonstrate further clinical progress, its platform holds blockbuster potential.

Based on optimistic model assumptions, analysts forecast PTN to reach $555 million in sales with $7.3 in EPS by 2030. That would imply astronomical returns from today’s modest $0.26 share price. However, with only $5.5 million in cash, dilution risks remain high in the years ahead.

Ultimately, everything hinges on consistent clinical execution. But, given the transformative upside, speculative investors could consider small positions if PTN’s drugs reach commercialization. Just brace for plenty of interim volatility. If management continues rebounding the business, large upside catalysts may arise. Wall Street analysts see 2243% upside.

Usio (USIO)

Unlike PTN, Usio (NASDAQ:USIO) offers a more modest but arguably safer growth bet in fintech. This overlooked stock has treaded water for years since a fleeting pandemic boom. But after landing key customers and achieving scale, Usio seems ready to break out.

Revenue expanded 25% last quarter to $20 million as growth initiatives gained momentum. Meanwhile, shifting towards a fee-based model has net margins crossing nearing positive metrics. Cash flow has turned positive, and Usio is also approaching overall profitability.

Despite the operational improvements, Usio still trades under $2 per share. If the company sustains 25%+ growth amidst these profitability inflections, shareholders should be handsomely rewarded.

Wall Street analysts forecast over 319% upside based on price targets averaging $7.30. While global fintech adoption accelerates, Usio’s payments platform should attract continued client uptake. Profitability metrics also have room for expansion over time, especially given the operating leverage in its model.

Terran Orbital (LLAP)

Terran Orbital (NYSE:LLAP) is one beaten-down aerospace stock that could defy gravity in the years ahead. While pre-payment delays from key customer Rivada Space Networks stoked fears, LLAP has broken above $1 per share as clarity returns. Rivada’s contract remains intact, and the associated funds should arrive if nothing drastic goes wrong.

Excluding Rivada, Terran holds around $180 million in backlogged orders from elite customers like Lockheed Martin (NYSE:LMT) and the Department of Defense. The company anticipates fulfilling 80% of its total $2.6 billion backlog by 2025. Thus, I believe further cancellations are unlikely.

Despite the massive order backlog and $1 billion+ revenue potential by 2025, Terran Orbital trades at a trivial $200 million valuation today. Hitting already-conservative earnings forecasts would imply 7x P/E two years out.

With shares pricing in seemingly zero execution here, Terran appears greatly undervalued. Wall Street analysts have a $3 consensus price target, implying 191% upside.

On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.