Analysts Are Bullish On These Penny Stocks
Finding penny stocks to buy doesn’t have to be overly complicated. Research is a big part of identifying trends and opportunities early. Sometimes analysts can be helpful in adding some insight to your DD process. In this article, we will take a look at 5 penny stocks with buy ratings from analysts.
They’ve also bullish price targets, with some fetching more than 100% right now. Even with bullish analyst ratings, it’s important to understand how to trade penny stocks in the first place. So if you’re brand new, check out Penny Stocks Trading for Beginners .
Penny Stocks To Buy According To Analysts
Once you find your strategy, it’s good to put it to use. And if you can find that your thesis aligns with analysts and their outlook, it may be worth paying attention a bit more closely.
1. Safe Bulkers Inc. (NYSE: SB)
With the global supply chain issues, the shipping industry has become a big focus for investors. Despite the hiccups, constant demand is driving up valuations for these companies. Safe Bulkers (NYSE: SB) handles dry bulk transport services for its customers.
Recent SB Stock News
The most recent news from Safe Bulkers came earlier in August. The company announced a deal for a 12-month bareboat charter agreement for the delivery of a vessel by the end of the fourth quarter this year. At the end of the chart period, the company has the option to purchase the vessel for $18 million.
Read more: How To Buy Penny Stocks
The last Buy rating on SB stock came from Stiefel Nicolaus. At the time the rating was given, shares were still trading below $2. So the $3 target was a premium. As of this week, shares of SB are trading well above this level and have broken back above the 50-day moving average for the first time since July.
2. Xenetic Biosciences Inc. (NASDAQ: XBIO)
Biotech remains a core focus for traders in the stock market today. Small-caps, in particular, are frequent beneficiaries of speculative momentum. In this case, Xenetic Biosciences (NASDAQ: XBIO) has seen a surge of interest in trading over the last few weeks. The company’s CAR T platform, XCART, is being designed for targeted, tumor-specific therapy.
Recent XBIO Stock News
Aside from raising several million dollars over the last few weeks, Xenetic recently reported its second-quarter results & business update. In it, CEO Jeffrey Eisenberg explained, “Over the course of the second quarter, we continued to execute our innovative and differentiated XCART program, and the technical progress we’ve accomplished brings us closer to the critical milestone of conducting IND-enabling studies in the United States. In light of that progress, we are taking important steps to validate the key workflow and manufacturing components that we believe will maximize the XCART opportunity.”
The most recent Buy rating on XBIO stock comes from HC Wainwright. The firm also placed a $5 price target on the stock, 57% higher than current trading levels. Analysts Joseph Pantginis said he expects a “meaningful visibility boost” from the XCART program.
3. Verb Technology (NASDAQ: VERB)
One of the technology penny stocks gaining ground this quarter is Verb Technology (NASDAQ: VERB). The penny stock’s shares initially took off earlier this summer thanks to growing interest in Verb’s live streaming eCommerce platform, verbLIVE. Since then, VERB stock has jumped from under $1.50 to nearly y$4 and currently trades right around $2 during August.
Recent VERB stock News
While the price of VERB stock has slid from its summer highs, trading activity hasn’t slowed much. That may have to do with recent events from the company. This week, Verb announced that its CEO Rory Cutaia will present at the Sidoti August Microcap Conference. Since that conference is being held as we speak (August 18th-19th), there could be some focus on the company’s platforms. In particular, recent milestones, including the release of verbMAIL, an interactive video email platform, will be in these discussions. Furthermore, Cutaia is planning to discuss recent partnerships with the likes of Market America Worldwide | Shop.com and NewAge Inc.
The latest rating from Alliance Global set the stage for the VERB stock forecast from analysts. The firm has a Buy rating along with a $4 price target. This was increased from its previous target of $2.75. Analysts Brian Kinstlinger expressed that he thought the company was past a difficult 2-year technology development stage and the pandemic’s boost to video and streaming has “emerged as a critical communication medium” and how “verbLIVE, verbMAIL, and eventually Verb’s marketplace position the company to benefit from this trend.”
4. Senseonics Holdings Inc. (NYSE: SENS)
Similar to some of the other companies discussed above, Senseonics (NYSE: SENS) has also steadily climbed this year. The medical technology company focuses on commercializing implantable continuous glucose monitoring systems for diabetes patients. A current PROMISE study is being conducted to evaluate the safety and accuracy of its Eversense CGM System.
Recent SENS Stock News
Like most companies right now, the focus is on earnings. In Senseonics’ case, it came up a bit short on earnings per share but beat sales estimates for the quarter. Furthermore, the company guided that fiscal 2021 sales should come in between $12 million and $15 million.
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Tim Goodnow, Ph.D., President and Chief Executive Officer of Senseonics, said, “As announced when we submitted this data to the FDA, we are pleased with the strength of the data from the PROMISE Study, which we believe represents a top tier CGM safety and accuracy profile. Along with our commercial partner Ascensia Diabetes Care, we are excited about the opportunity to offer more patients the longest-lasting CGM systems.”
Colliers Securities recently reiterated its Buy rating on the stock. Furthermore, analyst Kyle Bauser set a price target of $4 on the penny stock. Based on current prices, that’s roughly 26% higher than the current trading levels.
5. Kadmon Holdings Inc. (NASDAQ: KDMN)
With a strong move over the last month, Kadmon Holdings (NASDAQ: KDMN) has turned plenty of heads in the stock market. Today, KDMN stock continued this trend and tested the upper limits of the penny stock range. The biotech company focuses on developing drugs for unmet needs, including its REZUROCK tablet for cGVHD (Chronic Graft-versus-Host Disease) in pediatric patients.
Recent KDMN Stock News
Similar to Sensionics, Kadmon also recently put out its latest quarterly report. In it, the company highlighted its REZUROCK progress. CEO Harlan W. Waksal, M.D. said, “The recent U.S. FDA approval of REZUROCK marked a transformative event for Kadmon and for patients living with cGVHD. REZUROCK represents a paradigm shift in the cGVHD treatment landscape by uniquely addressing both the immune and fibrotic components of the disease.”
The company has also focused on other indications for its REZUROCK (belumosudil) for treating systemic sclerosis. An open-label Phase 2 trial is expected by the end of the year. In addition, Kadmon’s KD033 platform in cancer is set for data to be reported from its current trial next quarter.
When it comes to KDMN stock, HC Wainwright analysts are in focus. The firm’s Andrew Fein gave a Buy rating on the stock. He also set a price target of $20. Based on current trading levels, that target is roughly 300% higher right now.
Can You Make Money With Penny Stocks?
Regardless of what the masses may presume, you can make money with penny stocks. Though analysts may be bullish or bearish, it’s ultimately up to you to decide if something shows potential. Looking at things like financials, recent news, and, yes, analyst commentary can help you put together an initial thesis to build off of.