Are These Penny Stocks On Your Buy or Sell List Right Now?
When you’re looking for the best penny stocks to buy, there are plenty of things to review before pulling the trigger. At least, for most experienced traders, momentum and technical analysis are just a few parts of a much larger whole when it comes to research. That is if you’re not a high-volume scalper that usually knows little about a company and more on making a small spread quickly.
For most traders, there’s another side of the discussion. This usually involves fundamental aspects of companies. Recent earnings, corporate updates, pending deals, and the like are all pieces of this pie. Something that retail traders are finding value in right now is what the analyst community has to say.
They might help lighten some of the legwork when it comes to research. They focus on the future potential of companies and take many things into account that the average investor may miss. They also attend multiple conferences and frequently interact with management to gain a deep insight into the companies they choose to cover.
In this article, we’ll look at a few companies that analysts have given bullish outlooks on. They’ve given Buy ratings or the equivalent as well as lofty price targets. With that, it’s important to note that these firms and their opinions aren’t the end-all. But if you’re building your list of penny stocks to watch, it could be something to keep in mind as you research different companies in the stock market today.
Penny Stocks To Buy [According To Analysts]
- Kosmos Energy Ltd. (NYSE:KOS)
- Endo International (NASDAQ:ENDP)
- Sesen Bio Inc. (NASDAQ:SESN)
- Waitr Holdings Inc. (NASDAQ:WTRH)
- OncoSec Medical Incorporated (NASDAQ:ONCS)
1. Kosmos Energy Ltd. (NYSE:KOS)
Energy penny stock have been red hot this month. Komos Energy is a US oil and gas company with offshore production in Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico. This week the company officially priced its 37.5 million share offering at a price nearly in line with its closing level on October 14. The $3.30 price point seems palpable to the market and came with new analyst coverage.
KOS Stock Forecast
Shares of KOS stock have been pushing higher for the last several months. This has come as energy prices continue rising, in addition to several milestones reached by Kosmos. This year, Sanford Bernstein gave its outlook on KOS stock with an Outperform rating and a $7.80 price target. Based on Thursday’s closing price, the target is 119% higher right now. It’s also important to note that Berenberg upgraded Kosmos to a Buy this week, adding to the bullish sentiment behind the energy penny stock.
2. Endo International (NASDAQ:ENDP)
Endo has been one of the biotech penny stocks we’ve discussed previously. The company’s model entails multiple operating arms. These include Endo Aesthetics, Par Pharmaceutical, Paladin Labs, and its Endo Pharma platform.
Late last month, the company released its first and only generic version of Chantix tablets in the U.S. via Par Pharmaceutical. The 0.5mg and 1mg tablets have started shipping amid the final approval from the FDA for its Abbreviated New Drug Application. With earnings coming in a few weeks on November 5, this could be something to keep in mind if ENDP stock is on your list.
ENDP Stock Forecast
When it comes to the analyst community, Endo has raised eyebrows at firms like Citigroup. Earlier this year, the firm put a price target of $11 on the penny stock to pair with its Buy rating. Based on Thursday’s close, this target sits 165% higher than current levels right now.
3. Sesen Bio Inc. (NASDAQ:SESN)
You can’t ignore penny stocks under $1 right now. The main reason is that these volatile names are attracting plenty of interest among retail traders. Sesen Bio has become one of the more frequently discussed names on the list recently. Thanks to an uptick in momentum, SESN stock has raised a few eyebrows.
Prices plummeted after recent results sparked concern. Sesen announced that the FDA could not approve a Biologics License Application for the company’s Vicineum bladder cancer treatment. The FDA then gave recommendations to Sesen in providing additional clinical data to move forward.
Last month, an 8K showed updated details related to a research agreement from 2017 with the National Cancer Institute. This focused on Vicineum combined with AstraZeneca’s (NASDAQ:AZN) durvalumab in bladder cancer. Initial data demonstrated that the combination was well-tolerated. Following this, Sesen also reported this month that it expanded its chemistry, manufacturing, and control (CMC) and clinical development teams.
SESN Stock Forecast
What do analysts think about Sesen? The most recent update came from analysts at Canaccord Genuity. The firm has a Buy on the stock along with a $3 target. Though this was a lower target than before, it’s still sitting 240% higher than Thursday’s closing levels.
4. Waitr Holdings Inc. (NASDAQ:WTRH)
Waitr has experienced a wild last few months, with bearish sentiment winning over the market for most of that period. However, recent momentum has woken things up a bit for the bulls. Waitr is an on-demand food ordering and delivery tech company.
Obviously, with the turnaround in reopening stocks, WTRH may have gotten brought into the mix. Over the last few days, shares have jumped on above-average trading volume. Whether or not this marks the pivot for the long-term is to be seen.
WTRH Stock Forecast
Despite the downtrend, WTRH stock has attracted the interest of a few analysts recently. Benchmark, for example, currently has a $4 price target on the delivery tech stock. It also set a Buy rating to go along with it. Based on the closing levels on October 14, this target is 288% higher right now.
5. OncoSec Medical Incorporated (NASDAQ:ONCS)
The ONCS stock chart mirrors a similar trend as WTRH. However, that hasn’t put a pause to analysts’ bullish sentiment. The company specializes in immune treatment platforms addressing different cancers, in particular. Its lead candidate, TAVO, is being designed to target tumors throughout the body. According to the company, TAVO has the potential to treat multiple cancer indications.
ONCS Stock Forecast
While there haven’t been many recent updates from the company, that hasn’t stopped analysts from giving their outlook. For example, BTIG Research has a Buy on the biotech penny stock. It also comes with a $10 price target. Based on recent closing levels, that sits over 430% higher right now. The thing to determine is whether or not ONCS stock has the potential to turn things around in the near term.
Penny Stocks To Buy [or avoid]
Low-priced stocks are some of the most exciting to watch in the market right now. One of the big reasons for this has to do with their ability to produce significant gains quickly. However, just as quickly as they rise, they can also drop. No matter what analysts say or chatter appears to be among the Reddit or social media community, there’s no substitution for doing your research. You will ultimately be the one pulling the trigger. Based on some of the details today, do you agree or disagree with what analysts have in mind for some of these stocks & feel free to comment below.