Analysts Say These Are Penny Stocks To Buy Right Now; Do You Agree?
Penny stocks are well-known for their high risk. But ask any trader in 2021 and you’ll also see how many look to buy these cheap stocks for their potential rewards. Just look at the last 2 weeks, for instance. We’ve seen countless penny stocks record explosive gains within a matter of days or weeks.
This has made them an attractive option for traders looking to take full advantage of daily trends. While blue-chip stocks like Apple (NASDAQ:AAPL) or Microsoft (NASDAQ:MSFT) are up between 100% and 200% in the last two years, former penny stocks like Support.com Inc. (NASDAQ:SPRT) are up over 250% in the last 2 months.
So you tell me, are penny stocks worth it if you know how to trade them? In this article, we’re going to go one step further. Aside from looking at current trends among retail traders, we’re going to look at ones that analysts have recently weighed in on. All have been given high marks and significant price ratings. The big question now is will they meet these analysts’ expectations?
Penny Stocks To Buy [According To Analysts]
- Veon Ltd. (NASDAQ:VEON)
- Senseonics, Inc. (NYSE:SENS)
- Lipocine Inc. (NASDAQ:LPCN)
- Xeris Pharmaceuticals (NASDAQ:XERS)
Penny Stocks To Buy [According To B of A Securities]: Veon Ltd. (NASDAQ: VEON)
When it comes to making a list of communication penny stocks, Veon has been one mentioned over the last few months. The company has focused on expanding its global infrastructure footprint. For instance, earlier this year Veon acquired a majority stake in a Russia-based adTech company, OTM. According to Veon, OTM has become one of the largest players in the Russian advertising technology market.
In Pakistan, its operating company, Jazz, also secured a multi-hundred million dollar credit facility, which will finance ongoing 4G network rollouts and technology upgrades, among other things. Something interesting about Jazz is that its JazzCash platform could get Veon into the fold of FinTech. This has become a very popular niche in the stock market recently thanks to the rise of digital currencies like Bitcoin and Ethereum.
What Do Analysts Think About VEON Stock?
There’s been a series of analysts picking up coverage on VEON stock this year. HSBC, UBS Group, and, most recently BofA Securities are following Veon’s progress. This latest move from BofA sees the firm boosting its rating from Underperform to Buy. The analyst also carries a price target of $2.70, which is roughly 46% higher than recent trading levels.
Penny Stocks To Buy [According To Alliance Global]: Senseonics, Inc. (NYSE: SENS)
If you look at the last 8 months for Senseonics, you’ll see the company’s having a banner year. While SENS stock is down from its 2021 highs, it’s also up more than 350% year-to-date.
Senseonics is working on commercializing long-term implantable continuous glucose monitoring systems (CGMs) for those with diabetes. While recent earnings results showed a tough quarter for the company, there are several things that the market is looking at right now.
“In the second quarter we made progress driving increased patient and provider awareness of Eversense through a targeted direct-to-consumer digital advertising campaign and presentations of the PROMISE Study, an evaluation of our 180-day sensor, at the ADA and ATTD conferences,” said Tim Goodnow, Ph.D., President and Chief Executive Officer of Senseonics. “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.”
What Do Analysts Think About SENS Stock?
This year, 7 analysts picked up or adjusted their coverage on SENS stock. Most recently, in August, Colliers Securities’s Kyle Bauser and HC Wainwright’s Vernon Bernardino weighed in on Senseonics. Bernardino, in particular initiated coverage on the company giving it a Buy rating and $6 target. He believes Eversense has proven safety and efficacy in the real-world management of diabetes. Based on current trading levels, that target is 58% higher right now.
Penny Stocks To Buy [According To HC Wainwright]: Lipocine Inc. (NASDAQ: LPCN)
Lipocine is another one of the penny stocks with a bullish outlook from analysts right now. The company specializes in metabolic and endocrine disorders. This week, Lipocine announced topline data from its Phase 2 proof of concept Liver Fat intervention with oral Testosterone or LiFT study. The data were positive demonstrating the potential of its LPCN 1144 platform specifically in men with biopsy-confirmed non-alcoholic steatohepatitis – NASH. With no approved treatments for NASH right now, early progress has helped lift sentiment recently. Shares of LPCN stock are up around 9% month-to-date.
In response to the positive data, Dr. Mahesh Patel, Chairman, President, and CEO of Lipocine Inc. said that “The unique benefits of LPCN 1144 in improving body composition may fulfill an unmet medical need. We look forward to meeting with the FDA regarding the path forward for an accelerated approval and Phase 3 study requirements.”
What Do Analysts Think About LPCN Stock?
Similar to Veon, Liposince has a number of analysts covering it right now. Both Cantor Fitzgerald and, recently, HC Wainwright are following the company. In particular, this week HC Wainwright lifted its price target on the stock to $3.50 from $2.50. The firm also has a Buy on LPCN stock. Based on current trading levels, that target is roughly 146% higher right now.
Penny Stocks To Buy [According To Mizuho]: Xeris Pharmaceuticals (NASDAQ:XERS)
Shares of Xeris Pharmaceuticals have also caught a surge of momentum in recent weeks. While there’s still a long way to go to reclaim its 2021 highs, on a short-term timeframe, it has managed to fill a gap from its early August drop. Shares of XERS stock plummeted on August 5th following the company’s latest earnings report. Needless to say, momentum has come back into the stock and so have the bulls, and shares have come back to even on the month.
What has helped rebuild some trust in the market is Xeris reporting approval of a supplemental New Drug Application of its Gvoke kit for treating severe hypoglycemia. “These innovative formats provide the reliability of a ready-to-use liquid glucagon while offering multiple administration options for patients and caregivers,” said Paul R. Edick, Chairman, and CEO of Xeris.
What Do Analysts Think About XERS Stock?
The most recent rating on XERS stock comes from Mizuho’s analyst Difei Yang. He has a Buy on the stock as well as a $9 target. Based on recent trading levels, that target is 200% higher right now.
Are Analysts Right About These Penny Stocks?
The long and short of it is analysts are people at the end of the day. They aren’t always right and their targets aren’t always met. However, deep insight into the stock market and specific companies, treatments, product pipelines, and other facets of the business are things they take a closer look at than average Joe investors.
What I will say is that if you’re looking for penny stocks to buy, ratings are just one small piece of a much bigger process to putting together your investing thesis. But let us know your thoughts. What’s your take on some of these penny stocks with bullish ratings right now?