Analysts Appear Bullish On These Penny Stocks
It has been a big year for penny stocks and analysts are taking notice. In fact, some of the most talked-about names recently – Kodak, Novavax, Workhorse Group, Nio – were all penny stocks earlier this year. Hindsight is 20/20, of course, and we can’t go back in time. But what we can do is study some of the things that happened with those companies and others which caused such a big stir.
When you talk about hot penny stocks to buy, what comes to mind? Is it a stock that breaks out big in a single day? Is it one that rallies for months? However you define the term, the end result is the same: you can make money with penny stocks. This simple fact has brought plenty of interest to these stocks from analysts.
While analysts aren’t bullish on all penny stocks, they do have some of their favorites. However, like I’ve said in previous articles, just because an analyst likes certain penny stocks, it doesn’t mean they’re the best to buy now. Look at what the specific analysts say about certain companies.
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More importantly, compare that information to the current landscape. The fact of the matter is that analysts give a short-term and long-term outlook. But in between is where you’ll likely be looking at certain companies. In light of this, do you agree with analysts on these penny stocks?
Hot Penny Stocks To Buy [According To Analysts]: Arbutus Biopharma Corp.
You might remember Arbutus Biopharma Corporation (ABUS Stock Forecast) from last December. At the time, ABUS stock traded around $2. The company recently reported Q3 financials which showed a significant cash position on the books of over $90 million. This was significant because according to the company it can fund operations sufficiently into “early 2021.” But after rallying to highs of $3.66, the party started to get a little shaky. ABUS stock traded sideways, holding gains above $3.20 right up until the start of March.
While there’s been some intermittent volatility, no month has been as crazy as July. As we’ve been following this penny stock, shares exploded toward the end of last month. ABUS stock rocketed to a high of just over $9 after the company filed an 8-K showing some important info. Specifically, Moderna’s (MRNA Stock Forecast) bid to invalidate a US patent on vaccine technology owned by Arbutus was denied by the US Patent and Trademark Office, Reuters reported.
What Do Analysts Think About ABUS Stock?
This resulted in the company gaining entitlement to receive tiered low single digit royalties on future sales of Genevant products covered by the licensed patents. If Genevant enters into a sub-license agreement, Arbutus would receive 20% of the revenue received by Genevant for this sublicensing of the intellectual property licensed by Arbutus to Genevant.
However, during the last few weeks, ABUS stock has slid back below $5. This week, that trend seems to have subsided a bit. Arbutus is set to report earnings on Friday followed by a conference presentation at the Wedbush PacGrow Healthcare Virtual Conference next week. Considering that earnings are quickly approaching, it could be a higher-risk situation depending on the outcome. Needless to say, recent analysts ratings from JMP Securities, Wedbush, and B.Riley show a bullish outlook for the penny stock. Furthermore, B.Riley recently upped its price target on ABUS stock from $6 to $8.
Hot Penny Stocks To Buy [According To Analysts]: IZEA Worldwide
IZEA Worldwide (IZEA Stock Forecast) has also been on our lists of penny stocks to watch for some time now. Not as long as ABUS, however, IZEA stock started captivating attention as stay at home orders put people inside for extended hours in front of their computer screens. Over the last few months, IZEA stock has risen to the occasion seeing highs of $3.13 for the year. After pulling back, investors have searched for the next potential catalyst.
August might have become the place to find that. Shares began spiking again on July 31st without any apparent catalyst. However, on August 3, IZEA reported the publication of a brief providing its first public analysis of the influencer marketing industry within the travel and tourism industry. Specifically, the timeframe included everything since the outbreak of COVID-19. The industry brief was based on data surfaced by BrandGraph. This is IZEA’s proprietary social intelligence platform focused on the influencer marketing space.
What Do Analysts Think About IZEA Stock?
This momentum continued later in the week following another key update in August. IZEA reported that BrandGraph® Pulse was launched for Microsoft Teams. The product offers insights about brands and delivers daily or weekly activity digests directly to the user via a third-party messaging platforms.
The significance of the Microsoft Teams integration is that it’s used by over 75 million daily active users. The most recent ratings come from Ladenburg Thalmann and Craig Hallum ranging from Buy to Hold respectively. Based on this, the average consensus falls at Moderate Buy. Considering the latest, do you agree or disagree with Analysts?
Hot Penny Stocks To Buy [According To Analysts]: AIM Immunotech
Another frequent penny stock to watch this year has been AIM Immunotech (AIM Stock Forecast). Shares of the company have jumped from around $0.50 at the start of 2020 to highs of $7.11 and currently trade just under $3. Over the course of the last 8 months, a lot has happened with AIM stock and the company itself. All of which have had some relation to a focus on COVID-19.
If you’re just coming across AIM Immunotech, let’s get into some of the company specifics. AIM has placed a focus on its pipeline treatment Ampligen for treating COVID-19 patients with Cancer. Specifically, the therapy hosts anti-viral and anti-cancer properties. At the start of July, AIM signed a clinical trial agreement with Roswell Park Comprehensive Cancer Center supporting a Phase 1/2 clinical trail of Ampligen combined with interferon alfa-2b. This week the company presented at the SNN Network Virtual conference. Following that update, AIM stock began to steady its bullish trend and continued higher, mid-week this week.
What Do Analysts Think About AIM Stock?
What’s more is that the company is also listed as a presenter at LD Micro’s virtual conference in September. Other than that, there weren’t any further updates of pending milestones to look toward. However, as far as analysts are concerned, the firms covering AIM appear to be bullish right now.
The two most recent ratings come from TD Securities and Maxim. The general consensus is a Buy on AIM stock. TD holds a $4 price target, while Maxim has a $5 target for AIM.
Hot Penny Stocks To Buy [According To Analysts]: Heat Biologics
Heat Biologics (HTBX Stock Forecast) saw shares surging once again on Wednesday. HTBX stock took off during the lunch hour on Wednesday. This came after the company out with a new update. Specifically, Heat highlighted the importance of T cell immunity in preventing COVID-19 in a white paper released today. Heat’s COVID-19 vaccine is being designed to generate robust T cell immunity against SARS-CoV-2.
Jeff Wolf, CEO of Heat Biologics, commented, “Our COVID-19 vaccine platform is designed to drive predominantly T cell immunity-in contrast to most of the conventional approaches in clinical development, which focus on antibody immunity. We are designing our vaccine to be used as either a standalone vaccine, or as a prime and boost combination with other vaccines under development, to drive robust T cell immunity and bolster antibody responses, especially in high-risk populations with a compromised immune response.”
“Our confidence is further bolstered by the latest pre-clinical studies demonstrating immunogenicity proof-of-concept.”
Heat Biologics was one of the early COVID-related names we began discussing earlier this year. Over recent weeks, we’ve seen how Heat managed to make headway with its potential vaccine. It demonstrated in-vivo confirmation of vaccine immunogenicity in animal models, reported at the end of July.
What Do Analysts Think About HTBX Stock?
Whether Heat can make it to the finish line or not is still up in the air. However, in vivo studies aren’t a bad first step in my opinion. Regardless, here’s what analysts think about it. The most recent rating came from Maxim Group back in June. The firm’s initiated coverage with a Buy rating. In addition to that, Maxim also gave a $2 price target to HTBX stock. Will this week’s findings support continued bullishness around the penny stock?