5 Penny Stocks To Buy According To Analysts
This week kicked off another busy week for penny stocks and small-caps. Not only did we see a plethora of energy stocks surge during early market hours, but biotech was also a core focus. Meanwhile, the broader markets are trying to recoup some early losses during the session, today. Considering what lies ahead, I’m in no way surprised if we see more volatility for weeks to come.
Tonight marks the first, official presidential debate between incumbent, President Donald Trump and Democratic nominee, Joe Biden. The two have abhorrently lobbied against one another during weeks of public interviews and, of course, ad spending. Tonight, Cleveland, a city in one of the Battleground states in this year’s election, hosts the debates. Starting at 9 PM EST, the debate will last about 90 minutes wherein the two will argue on several topics. According to the Commission on Presidential Debates, some of these topics include COVID-19, the economy, race & violence, the Supreme Court, and their individual records.
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This has thrown a bit of a wrench into things as far as broader markets are concerned. However, for those trading penny stocks, the increased volatility is a welcome sight. During most of September, small-caps, in general, cooled off. It really wasn’t until last week’s surge in energy and EV penny stocks, that we saw a boost in consistent market action. In the midst of all of this, analysts continue to follow market trends and specific moves by individual companies. While these ratings aren’t the “end-all,” they can be used to help in your diligence process. With this in mind, here’s a list of penny stocks to buy according to analysts. Where do you stand?
Penny Stocks To Buy [according to analysts]: Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP)
Corbus Pharmaceuticals Holdings Inc. (CRBP Stock Report) has tried to claw back from the huge sell-off it experienced earlier this month. Assuming you’re new to this story, CRBP stock was trading above $9 at the beginning of September. However, as we’ve seen with plenty of top biotech penny stocks this year, 1 bad update can be a very big deal.
Corbus focuses on developing and commercializing therapeutics. These treatments are usually for rare, chronic, and serious inflammatory and fibrotic diseases. One of its leading products is lenabasum, which is in Phase III clinical trials to treat systemic sclerosis and dermatomyositis.
On September 8th, we saw how a miss in topline data can result in a big drop. Corbus, in this case, fell to lows of $1.29 throughout the month of September, following this news. It’s still important to note that the company still sees potential in lenabasum. The treatment was granted Orphan Drug designation and Fast Track designation for the treatment of SSc from the FDA and Orphan Designation for the treatment of SSc from the European Medicines Agency.
What’s more is that over the last few week, there haven’t been many news headlines. But sift through the filings and you’ll see that its board has gotten a shake-up. Both David Hochman and George Golumbeski resigned from the Board. Needless to say, over the last 4 sessions, CRBP stock has put in new highs.
CRBP Stock Forecast
Where do analysts stand on CRBP stock? The most recent CRBP stock forecast comes from H.C. Wainwright on September 9th. The firm gave CRBP stock a Buy rating along with a $6 price target.
Penny Stocks To Buy [according to analysts]: Hancock Jaffe Laboratories Inc. (NASDAQ:HJLI)
Hancock Jaffe Laboratories Inc. (HJLI Stock Report) has been one of the penny stocks to watch for the last few months. The first time we discussed the company was back at the beginning of August. At the time, HJLI stock had just closed out the first full week of the month around $0.36. The company had just filed a FORM 144 as buzz was building around its proposed merger from June. The company signed a non-binding letter of intent to merge with Catheter Precision, Inc., a private medical device company focused on cardiovascular diseases, including heart arrhythmias.
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Fast-forward a few weeks and we were able to see, first hand, HJLI stock breakout as high as $0.81. During most of September, the penny stock has been very volatile but maintained a sideways channel between $0.40 and $0.50 for the most part. About a month ago, the stock surged after announcing the first implant of the CoreoGraft conduits would soon take place.
Further, Hancock Jaffe said it will announce the schedule when available. The first-in-human trial will consist of up to 5 patients. Since that update, no further follow-up was issued thus far. However, it is important to note that in January of 2020, HJLI released positive results from its six (6) month CoreoGraft animal feasibility study.
HJLI stock saw a nice pop this week without any news or filings to speak of so far. On Tuesday, the penny stock made an intra-day move of more than 10%.
HJLI Stock Forecast
Where do analysts stand on HJLI stock? The most recent HJLI stock forecast comes from Ladenburg Thalmann on September 3rd. The firm gave HJLI stock a Buy rating but no price guidance was issued at the time.
Penny Stocks To Buy [according to analysts]: Trevena Inc. (NASDAQ:TRVN)
Another one of the penny stocks we talked about for some time now is Trevena Inc. (TRVN Stock Report). It’s also another one of the penny stocks making a noticeable move on Tuesday without apparent news. Since pulling back from its $3.68 highs in August, TRVN stock has been mounting a recovery. Month-to-date, TRVN stock has climbed as high as 80%. It’s also worth mentioning that TRVN is on the list of top biotech penny stocks to watch in October.
In any case, Trevena has put its attention on its OLINVYK treatment. Back in June, the company had begun collaborating with Imperial College London. The goal was to evaluate the treatment potential of TRV027 for acute lung injury in COVID patients. What’s more, is that the most recent focus has been on the company’s non-COVID pipeline. The OLINVYK treatment was featured in a few publications. It compared the safety between Trevena’s treatment and IV morphine.
Trevena also presented at the Virtual American College of Clinical Pharmacology Annual Meeting at the end of the month. The company discussed progress on several pipeline candidates. These included TRV027 for COVID-19, OLINVYK vs Morphine, as well as information on TRV250 for migraine therapy. What’s also important to note is SVP and CMO of Trevena, Mark A. Demitrack , M.D. expressed that there could be “multiple exciting catalysts over the next few months.”
Something to keep in mind as we head into “the next few months” and see days like Tuesday in the stock market.
TRVN Stock Forecast
Where do analysts stand on TRVN stock? The most recent TRVN stock forecast comes from Guggenheim on September 14th. The firm gave TRVN stock a Buy rating along with a $5 price target.
Penny Stocks To Buy [according to analysts]: InflaRx N.V. (NASDAQ:IFRX)
InflaRx N.V. (IFRX Stock Report) has been very quiet since the second quarter of the year. If you look at the penny stock’s chart, you’ll see the strong move IFRX stock had earlier in 2020. We initially began following the stock back in February when InflaRX announced suitably positive initial data from the Phase 2a open-label study of its product IFX-1. The product was meant to treat patients who are suffering from Pyoderma Gangraenosum.
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Enter coronavirus and everything starts to change, including the stocks price. Furthermore, the company received initial positive human data from 2 patients suffering from COVID-19-induced pneumonia treated with BDB-001. This BDB-001 was produced by its licensee, Beijing Defengrei Biotechnology, from the IFX-1cell line in China.
Based on that, InflaRx decided to initiate a clinical development program with IFX-1 in COVID-19 patients with severely progressed pneumonia. This week we see IFRX stock breaking out once again, for the first time in a long time. Industry journal, The Lancet, published information1 Tuesday comparing IFX-1 (vilobelimab) treatment to the best supportive care for patients with severe COVID-19.
“In this small exploratory phase 2 part of the PANAMO trial, C5a inhibition with IFX-1 appears to be safe in patients with severe COVID-19. The secondary outcome results in favour of IFX-1 are preliminary because the study was not powered on these endpoints, but they support the investigation of C5a inhibition with IFX-1 in a phase 3 trial using 28-day mortality as the primary endpoint.”
IFRX Stock Forecast
Where do analysts stand on IFRX stock? While the most recent Buy rating came from Raymond James in July, the most recent IFRX stock forecast, in general, comes from Ci Capital on September 14th. The firm gave IFRX stock a Hold rating along with a $7 price target.
Penny Stocks To Buy [according to analysts]: Adial Pharmaceuticals (NASDAQ:ADIL)
Adial Pharmaceuticals (ADIL Stock Report) is a high-flyer today. The company came out with late-morning news announcing COVID-19 information. Adial announced that the FDA issued emergency use authorization for its Assure/FaStep COVID-19 rapid test device. According to Adial, this is the first emergency use authorization for an antibody point-of-care test for COVID-19 using fingerstick blood samples.
The company said it began sales of the FaStep test kit to healthcare providers and hospitals via its iRemedy Healthcare Companies network. In response to the news, CEO William Stilley said, “We see a market demand for these instant and efficient antibody tests to help combat the international COVID-19 pandemic with the addressable global COVID-19 rapid test kits market expected to reach $3.52 billion by the end of 2020.”
One thing to note with ADIL stock is that it has already made a huge move on Tuesday. It’s one of the low float penny stocks gaining ground. But just as quickly as it moves up, it can also pull-back. So if you aren’t used to highly volatile penny stocks, ADIL might not be part of your overall game plan. I know it’s a very popular name right now so keep that aspect of this trade in mind. The last time ADIL broke out big, $2.50 ended up becoming the ultimate resistance point. It looks like that has also been the case so far on Tuesday.
ADIL Stock Forecast
Where do analysts stand on ADIL stock? The most recent ADIL stock forecast comes from Maxim Group, though it is very outdated. The last update from the firm was back in 2019. Needless to say, Maxim hasn’t edited or revised that rating thus far. The firm gave ADIL stock a Buy rating along with a $5 price target.
End Notes:
- InflaRX: https://www.thelancet. com/journals/lanrhe/article/PIIS2665-9913(20)30341-6/fulltext
