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Hot Stocks To Watch On Robinhood With Analyst Targets Up To 368%

Meme stocks aren’t the only thing gaining momentum on Robinhood right now.

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Are Analysts Right About These Hot Stocks?

Whether you’re talking about penny stocks, blue-chips, or meme stocks, traders focus on 1 thing. That is how to make money in the stock market right now. Thanks to the rise of companies like AMC Entertainment (NYSE: AMC), attention has been placed on social sentiment and overall momentum-based trading trends.

Meme stocks have shed a very bright light on the potential that the market has. In many ways, they’ve opened doors that, for the most part, were thought to have been closed to “dumb money.” Now, however, that “dumb money” may be having the last laugh. Look at countless former penny stocks like AMC stock, GME, PRTY, TUP, NVAX; the list goes on. Many have experienced multi-triple and quadruple-digit rallies within a year or less.

What’s more, it has brought fervor to the markets that hasn’t been seen at this magnitude in recent history. Mobile apps like Robinhood, Webull, and others have also helped carve a path. Though NASDAQ- and NYSE-listed stocks are the “only” ones to choose from, it hasn’t put a pause to millions of traders using these platforms to trade penny stocks and higher-priced ones alike actively.

[Read More] Are Penny Stocks Worth It? 3 to Watch This Week

Thanks to the added liquidity in the stock market today, many analysts have also begun following the progress of some of the lesser-known companies in the market. Today, we’ll take a look at a few former penny stocks on Robinhood that’ve raised eyebrows in the analyst community. In fact, these analysts have given targets between 23% and 368% higher than where these stocks currently trade.

Read more: How To Buy Penny Stocks

Top Robinhood Stocks To Watch Right Now

  1. GT Biopharma Inc. (NASDAQ: GTBP)
  2. Ocugen Inc. (NASDAQ: OCGN)
  3. Fulcrum Therapeutics (NASDAQ: FULC)

GT Biopharma Inc. (NASDAQ: GTBP)

Right now 3 top Wall Street analysts are covering GT Biopharma Inc. Roth Capital, H.C. Wainwright, and B. Riley all have issued Buy ratings on GTBP stock. Furthermore, initial price targets have also been set between $25-$26. One of the main attractions to GT Biopharma is the company’s oncology treatment pipeline and platform technology.

GT has focused its science on using “Natural Killer Cells” to fight cancer. The company’s specific type of therapy aims to increase the number of NK cells within the tumor’s own microenvironment to beef up tumor cell killing activity. This is through tri-specific natural killer engagers (TriKE™). The therapy combines proteins that bridge an immune cell and a tumor cell then drive tumor cell killing power to exponential levels. It has led to new first-in-human phase studies to treat leukemia as well as several other indications.

Right now, immediate attention is on the company’s lead TriKE candidate, GTB-3550. It’s in a Phase I/II study for treating acute myeloid leukemia and myelodysplastic syndrome. Based on early data already released, some analysts like those at B. Riley are anxious to see new details and soon.

For instance, B. Riley boosted its price target from $21 to $26. The firm said, “Based on the press release and our subsequent conversation with management, we are encouraged by the mounting evidence of clinical activity and the emerging safety profile of lead asset GTB-3550…With the dose-escalation portion of the trial expected to complete towards the end of August 2021, we are raising our probability of success for GTB-3550 in CD33+ acute myeloid leukemia (AML) and higher-risk myelodysplastic syndrome (HR MDS) from 25% to 30%, with a commensurate increase in our 12-month price target.” Read Full Analyst Report Here.

Ocugen Inc. (NASDAQ: OCGN)

Another one of the former penny stocks analysts are bullish on is Ocugen. While the target isn’t the same magnitude as that of GTBP or others on this list, a recent update from HC Wainwright pegs a 23% target on OCGN stock along with a Buy rating. Initially followed for its progress in eye care, Ocugen has evolved into another one of the vaccine stocks to watch this year. That’s thanks to its relationship with Bharat Biotech and the development of COVAXIN™.

[Read More] 12 Penny Stocks To Buy In August 2021 According To Insiders

This has become the center of attention for those looking at OCGN stock this quarter. In fact, further details were revealed in the company’s most recent business update and quarterly report last week.

“Our regulatory submission to Health Canada and our ongoing discussions with the U.S. Food and Drug Administration continue to provide us direction in potentially obtaining regulatory approvals for COVAXIN™ in North America . We are also continuing our forward momentum to take on blindness diseases and are on track to initiate our first gene therapy clinical trial for OCU400 in the latter part of 2021.”

Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen.

With rising cases of the Delta variant right now, vaccines stocks have come into focus. With regulatory approvals at the center of speculation, OCGN could be on the list of stocks to watch right now.

Fulcrum Therapeutics (NASDAQ: FULC)

Analysts at Stifel Nicolaus have high hopes for Fulcrum Therapeutics right now. The biotech company was considered a penny stock not all that long ago. However, over the last few months, Fulcrum has been making strides to pull further away from that level altogether.

The company focuses on developing treatments for rare genetic diseases. including sickle cell disease. This week, the company announced key data that has helped drive momentum in the market and push shares of FULC stock higher. Fulcrum announced positive interim results from its ongoing single- and multiple ascending dose (SAD and MAD) Phase 1 trial with FTX-6058. This treatment targets patients with fetal hemoglobin (HbF) with the potential to treat hemoglobinopathies.

“These results with FTX-6058 are very encouraging,” said Julie Kanter, MD, co-director, Lifespan Comprehensive Sickle Cell Center at the University of Alabama at Birmingham. “Tremendous unmet need exists for many people with sickle cell disease and the availability of an effective, tolerable, oral, once-daily treatment option could represent a significant advancement.”

[Read More] 4 Penny Stocks On Robinhood To Watch This Week

Right now, Stifel’s analysts have a $39 target on FULC stock. Based on Monday’s close of $8.33, that’s 368% higher right now. *UPDATED* Stifel reiterated its rating later in the day on August 10th and boosted its price target to $45. Even at the intra-day high of $22.09, this target is over 100% higher than current trading levels.

Are Analysts Right About These Former Penny Stocks?

The excitement in the stock market right now has institutional and retail traders looking for more opportunities. While analysts aren’t the “end all” to your research, they do offer different perspectives you might have not found on your own. In any case, their insight can be a great addition to your own research and due diligence. In any case, right now, some of Wall Street’s biggest firms have gotten bullish on companies mentioned in this article and could be on plenty of watch lists heading into the second half of the year.

Pursuant to an agreement between Midam Ventures LLC and GT Biopharma (GTBP) Midam has been paid $150,000 for a period from March 1, 2021, to April 1, 2021. This compensation is payment 1 of 12 as part of a 12-month agreement between Midam Ventures LLC & GT Biopharma (GTBP), for a period from March 1, 2021, to February 28, 2022. Midam Ventures LLC expects to be paid $150,000 per month for a total of 12 months by GT Biopharma (GTBP). Midam has been paid an additional $150,000 for a period from April 2, 2021, to May 1, 2021. This compensation is payment 2 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from May 2, 2021, to June 1, 2021. This compensation is payment 3 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from June 2, 2021, to July 1, 2021. This compensation is payment 4 of 12 as part of the Agreement. Midam has been paid an additional $200,000 for a period from July 2, 2021, to July 29, 2021. This compensation is payment 5 of 12 as part of the Agreement. Midam has been paid an additional $200,000 for a period from July 29, 2021, to September 2, 2021. This compensation is payment 6 of 12 as part of the Agreement. We may buy or sell additional shares of GT Biopharma (GTBP) in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about GT Biopharma (GTBP). Click here for full disclaimer.

By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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