3 Brilliant Growth Stocks to Buy Now and Hold for the Long Term | The Motley Fool

All investors would love to get rich overnight. As anyone who's been in the market for a while can attest, however, that's just not how things work. Growing wealth takes time. And, the more time you're willing and able to give your picks, the better your returns tend to be. With that as the backdrop, here's a closer look at three stocks that are not only solid long-term prospects. Granted, they will require lengthy holding periods to reach their full potential and pay off in full. This, of course, means taking the risk of stepping into a name with a future that's still a bit fuzzy and far from guaranteed. If things pan out the way they appear to, though, this risk will be well worth it. Image source: Getty Images. 1. CRISPR Therapeutics The premise of repairing damaged or faulty DNA has long been on the healthcare industry's mind. It didn't become a commercial reality, however, until late 2023, when CRISPR Therapeutics ' ( CRSP 3.21%) Casgevy became the first-ever FDA-approved gene therapy. Although it's only approved to treat sickle cell disease, it's a tacit but important validation of the underlying science. NASDAQ: CRSP Key Data Points That science is the use of the clustered regularly interspaced short palindromic repeats -- or CRISPR -- found in human DNA to cut out damaged genetic code and then replace it with the correct one. Or, more specifically, removing a segment of faulty DNA forces the body to use its own self-repair process to create a permanent, healthy fix. The idea has near-term promise as the basis for treating diabetes and autoimmune diseases, as well as for cardiovascular diseases -- all of which CRISPR Therapeutics is working on in clinical trials now underway. Further down the road, though, this approach could conceivably be refined to treat cancer, Alzheimer's, muscular dystrophy, and more. That's why Precedence Research believes the global CRISPR therapy market is poised to grow at an average annualized pace of nearly 17% through 2034. Given that one of the company's co-founders (Emmanuelle Charpentier, Ph.D.) won a Nobel Prize in 2020 for her discovery and creation of this CRISPR-based approach to gene editing, it's not a stretch to suggest CRISPR Therapeutics itself is very well positioned to capture at least its fair share of the medical science's future growth. Just understand that medical science moves incredibly slowly, requiring a long-term mindset from investors. This might put things in perspective, as well as help you stick with it in the meantime: Although Casgevy was approved as a treatment for sickle cell a little over two years ago, its revenue isn't expected to truly explode until next year, ramping up from this year's projection of just a few million dollars to a little over $100 million next year to nearly $300 million after that. By then, progress on fronts other than sickle cell disease should start driving the stock on a more consistent basis. 2. Astera Labs To date, Broadcom has been one...

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