Curis (NASDAQ: CRIS) is a speculative stock -- no approved product and no revenue -- that, in former markets, would sell for $10 - $12. It is now around a buck and a half, after doubling in the past few months.

CRIS focuses on cancer treatments, and is partnered with Genentech/Roche. It has a new therapy for basal cell carcinoma in mid-stage trials. The results appear very promising. In fact, they are so promising that Genentech is treating this as the last trial needed before seeking FDA approval.

This stock is a potential 10- to 20-bagger with an FDA approval in 2011 or so. And the company is on the verge of licensing a new molecule that could be a big catalyst for the stock in the short term.

Your best strategy for life-changing profits?

Buy CRIS now. (In the interest of full disclosure, I own a lot of CRIS.)

Next: Biotech Stock #5

MOST NOTEWORTHY: McGraw-Hill, Curis and Azure Dynamics were today's noteworthy initiations:

• Jefferies initiated McGraw-Hill (NYSE: MHP) with a Buy rating and $49 target. The firm believes the downturn in credit markets has already been fully priced into shares and expects the stock to gain momentum throughout 2008 in anticipation of liquidity returning to credit markets.
  
• RBC Capital initiated Curis (NASDAQ: CRIS) with an Outperform rating and $2.50 target based on the company's partnership with Genentech (NYSE: DNA) and potential upside from its pipeline.
  
• Merriman started Azure Dynamics (OTC: AZDDF) with a Buy rating. The firm believes the company's focus is where customers see the most benefit from a medium-duty hybrid or market-appropriate solutions and finds the stock attractively valued.

OTHER INITIATIONS:

• Dr. Pepper Snapple (NYSE: DPS) was assumed with a Market Perform rating at Wachovia.
  
• Morgan Stanley started Chiquita Brands (NYSE: CQB) with an Equal Weight rating.
  
• Credit Suisse initiated Iron Mountain (NYSE: IRM) with a Neutral rating and $34 target.