4 Penny Stocks Analysts Have Rated A “Buy”
If you’re new to penny stocks or are new to PennyStocks.com, it’s important to know where to get reputable information. Where opinion columns and websites with third party contributors may appear biased, you can’t disregard them for gauging sentiment. This same idea holds true for analyst ratings. If you haven’t taken a look around the site, you likely haven’t seen the penny stock profile pages.
On these pages, not only are you getting vital fundamental information about a company’s business model and recent announcements, but we’ve also allowed access to Analyst data as well. Depending on which penny stocks you’re interested in, the overall rating, as well as individual analyst ratings, are given.
Today, we’re going to look at a few “penny stocks to buy” according to analysts. Now, before you scroll down and immediately jump into any of the penny stocks below, don’t! Jut because an analyst has a “buy” rating on any penny stock doesn’t initially mean that now is the best time to actually own shares.
Some ratings may be from weeks or months ago yet because that was the last updated rating from an analyst, it gets accounted for. So, a better idea, especially if you’re new to penny stocks, is to do your own research to determine if you come to the same conclusion as the analysts.
Independence Contract Drilling Inc. (ICD)
Shares of Independence Contract Drilling Inc. got off to a racing start on Thursday. The penny stock closed at $2.40 on Wednesday and has since jumped to early highs of over $5 a share. What does the company do? Independence Contract Drilling provides land-based contract drilling services for oil and natural gas producers.
Obviously the oil and gas sector has gotten abused this year. But the recent bullish sentiment has investors looking for new opportunities that may have been overlooked previously. A lot of this has to do with what’s happening with OPEC and the conversation between Russia and Saudi Arabia.
The company constructs its own and operates a land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. As far as ICD stock is concerned, this could be your classic low float penny stock squeeze. On the Independence Contract Drilling stock profile page, we can see that total Outstanding shares for the stock are less than 4 million. Meanwhile, Thursday’s session has seen more than that many shares trade already.
What do analysts think about Independence Contract Drilling? There is a Moderate Buy for the stock according to 3 ratings. See Full Analyst Rating On Independence Contract Drilling Inc.
Heat Biologics Inc. (HTBX)
Another one of the penny stocks analysts appear bullish on is Heat Biologics Inc. (HTBX). While the stock hasn’t seen as big a surge as Independence, HTBX stock managed to trade at new highs for April. The jump wasn’t companies by any new updates but the conversation about coronavirus penny stocks has heated up. Earlier this month, the company put together a COVID-19 advisory board.
According to the company, it established the board to help boost the company’s COVID-19 vaccine and diagnostic programs. The company’s gp96 platform is designed to target the SARS-CoV-2 coronavirus that is behind COVID-19. The company also has a collaboration with the University of Miami Miller School of Medicine and intends to develop a COVID-19s point-of-care test as well.
Jeff Wolf, Chief Executive Officer of Heat Biologics, commented, “We are thrilled to have attracted leading experts in immunotherapy and vaccines to support Heat as we continue to develop Heat’s COVID-19 vaccine and COVID-19 diagnostic programs. We look forward to working closely with the CAB to advance our programs to help combat the current COVID-19 pandemic.”
What to analysts think about Heat Biologics? Of those showing on the company’s profile page, all have given a “Strong Buy” rating for HTBX stock. In comparison to ICD, HTBX has quite a bit more shares outstanding. Given the current momentum and ratings, however, is HTBX one of the penny stocks to buy or avoid in April? See Full Analyst Ratings on Heat Biologics.
Neptune Wellness Solutions Inc. (NEPT)
This week, we’ve seen an increase in marijuana penny stocks. Yesterday, one of the top traded penny stocks to watch was Aurora Cannabis (ACB Analyst Rating) as attention grew in Ontario for its stance on Cannabis as an approved industry to leave access open to. While Neptune Wellness is another one of the popular cannabis names in the industry, it’s not jumping this week because of industry-related news. We saw something similar to what I’m about to explain from another cannabis penny stock this week. While it’s kind of unrelated, “it gets the people going” as the Blades of Glory saying goes.
The company completed a submission to the FDA for registration of its facility in Conover, North Carolina as an over-the-counter drug manufacturer. The goal: to prepare alcohol-based hand sanitizers under the agency’s temporary policy for such products during the public health emergency (COVID-19).
“Our hand sanitizers are leveraging our experience and ongoing development of plant-based household products, allowing us to quickly address this growing consumer need with a premium quality solution,” said Michael Cammarata, Chief Executive Officer of Neptune. While being an extract company and sanitizer manufacturer may be a bit far apart on the business model level, it is something in need and something that Neptune apparently expects the ability to execute on. Thanks to this news, shares of NEPT stock have jumped on Thursday.
What do analysts think about Neptune Wellness Solutions? Of the number of analysts shown to cover this penny stock, the list is split evenly across the board. The prevailing average shows a “Moderate Buy” rating with no analysts given anything less than a “Hold”. See Full Analyst Ratings On Neptune Wellness Solutions.
Mallinckrodt plc (MNK)
Finally, Mallinckrodt plc. has been on the move this week as investors circle the healthcare and biotech arenas. Specifically, Mallinckrodt has made a big announcement this week that had nothing to do with COVID-19. What was the news? Mallinckrodt reported that it struck a deal with some of its creditors to exchange certain senior notes with new 10% “First Lien Senior Secured Notes”. These will become due in 2025 so it gives the company a bit of breathing room for now.
Shares of Mallinckrodt have been smashed over the last few months and during recent years. The company got into hot water during the early and current phases of the opioid crisis. Of course, lawsuits ensued. Under a recent deal, certain Mallinckrodt subsidiaries like SpecGx will file for bankruptcy and pay $ 1.6 billion to the opioid plaintiffs.
Earlier this week, the company also announced that Stratatech, a Mallinckrodt company, has initiated the rolling submission of a Biologics License Application to the FDA seeking approval to market StrataGraft®. This is a regenerative skin tissue therapy, for the treatment of adult patients with deep partial-thickness thermal burns. That seems to have gotten the ball rolling on the stock’s recent bout of trading momentum.