best penny stocks to buy now according to analysts

Penny Stocks To Buy According To 4 Analysts Right Now

If you’re looking for penny stocks to buy, you might be looking for specific trends. We’ve covered many of these over the last few weeks. Whether it’s stocks with low floats, penny stocks with high short interest, or even trending stocks on Reddit, you’ve got plenty of options to choose from. Today, we’ll look at a list of penny stocks that analysts have decided to give bullish ratings on. Yes, this also includes price targets upward of 341% compared to current trading levels.

Penny Stocks To Buy [According To Analysts]

  1. Idera Pharmaceuticals (NASDAQ: IDRA)
  2. Biofrontera Inc. (NASDAQ: BFRI)
  3. SPI Energy (NASDAQ: SPI)
  4. ReWalk Robotics (NASDAQ: RWLK)
  5. Arbutus Biopharma (NASDAQ: ABUS)

Penny Stocks To Buy [According To Barclays]: Idera Pharmaceuticals (NASDAQ: IDRA)

Idera Pharmaceuticals has been under constant pressure most of the year. It has fallen from highs of $6.14 to as low as $0.5659, and that low was hit this week. Thanks to the near 100% drop in share price, IDRA stock hasn’t been the most popular name on this list of penny stocks. The drug development company has publicly stated that it remains focused on “identifying new development or commercial-stage assets” for its portfolio. Furthermore, based on CEO Vincent Milano’s, there could still be some potential in the company’s current pipeline.

“Studies also continue in patients with microsatellite-stable colorectal cancer (ILLUMINATE-206) and, in partnership with AbbVie, in patients with head and neck squamous cell carcinoma. We expect to share results from the second stage of ILLUMINATE-206, which involves tilsotolimod in combination with Bristol Myers Squibb’s nivolumab and ipilimumab, by the end of the year.”

Playing off of this idea of “potential,” details surfaced this week related to a patent granted by the European Patent office. The patent is titled “TREATMENT OF CANCER USING TLR9 AGONISTS AND CHECKPOINT INHIBITORS” and was revealed during the afternoon session on December 8. This seems to have helped bring some much-needed attention back to the company after a tumultuous year.

IDRA Stock Forecast

Looking at some of the few ratings from analysts, Idera has only seen a few weigh-ins on the outlook. However, according to Barclays (which has an Equal Weight rating), the upside could be as much as $2. This is where the firm set its price target this year. Based on current price levels, that is 165% higher right now.

best penny stocks to buy according to analysts Idera Pharmaceuticals IDRA stock chart

Penny Stocks To Buy [According To Roth Capital]: Biofrontera Inc. (NASDAQ: BFRI)

Biofrontera has been in focus recently thanks to moves in the market following its IPO. Yesterday we discussed the company on a list of low float penny stocks to watch right now. In this case, BFRI stock’s outstanding share count sits below 20 million shares right now, a level usually considered a threshold for “low float” stocks. But there’s more to take account of than the company’s float.

Since Biofrontera is biotech, there’s no shortage of volatility thanks to new developments. Unlike Idera, the ones happening with Biofrontera have been more favorable than not this year. It recently launched its clinical study program to optimize and expand its market position for its Ameluz treatment. This is Biofrontera’s in-licensed FDA-approved prescription for photodynamic therapy in the US.

Biofrontera has also begun enrolling subjects in its Phase 1 study of the safety and tolerability of photodynamic therapy in treating actinic keratosis using Ameluz with the company’s BF-RhodoLED XL lamp. The study will ultimately enroll 100 subjects with mild-to-severe actinic keratosis on their face and scalp.

This week the company also reported a Notice of Allowance from the US Patent and Trademark Office titled “Illumination device for photodynamic therapy, method for treating a skin disease and method for operating an illumination device.” According to the company, this protects specific innovations related to its RhodoLED XL lamp.

BFRI Stock Forecast

According to Roth Capital’s latest outlook, BFRI stock was given a Buy rating. Roth also set a $20 price target on the biotech penny stock. Based on current levels, that’s 341% higher right now.

best penny stocks to buy according to analysts Biofrontera BFRI stock chart

Penny Stocks To Buy [According To Maxim]: SPI Energy (NASDAQ: SPI)

One of the hot areas in the stock market today is centered around infrastructure. But it isn’t just steel manufacturing or cement companies. Renewables and alternative energy are also taking a leading role. SPI Energy provides solar storage and EV solutions for businesses, governments, and residential offerings.

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The company’s solar arm, SPI Solar, reported that it acquired an existing lease for a 140,000 square foot Sunergy PV solar plant in California earlier this week. SPI said it aims to begin serving the US market next quarter while the facility’s technology is upgraded. Ultimately it should have upward of 1.1 gigawatts of capacity by the second quarter of 2022. What do analysts think?

SPI Stock Forecast

Analysts at Maxim appear bullish on SPI stock. The firm has a Buy rating as well as a $12 target. Based on current levels, that target sits around 164% higher right now.

best penny stocks to buy according to analysts SPI Energy SPI stock chart

Penny Stocks To Buy [According To HC Wainwright]:

HC Wainwright is another popular firm that follows stocks of all market caps. In particular, it has given an outlook on many penny stocks. Here are two that it has provided a bullish view on this year.

ReWalk Robotics (NASDAQ: RWLK)

ReWalk develops wearable exoskeletons for people with lower limb disabilities. It also recently came off a solid third quarter, which hasn’t hurt momentum in the stock market either. Its EPS came in much higher than the same period in 2020, and sales also significantly beat estimates. In fact, according to CEO Larry Jasinski, “During the third quarter, we have continued to demonstrate quarter over quarter growth and the results in Q3 2021 marks our highest quarterly revenue for the last 4 years.”

With new markets opening, ReWalk has expressed optimism in continuing this momentum into the end of the year. So, as the market looks ahead, we look at what analysts think.

RWLK Stock Forecast

According to HC Wainwright, the firm has a Buy rating on RWLK stock. Its $3.50 price target also sits 155% higher than current levels right now.

best penny stocks to buy according to analysts ReWalk Robotics RWLK stock chart

Arbutus Biopharma (NASDAQ: ABUS)

ABUS stock isn’t a stranger to our watch lists. We’ve covered Arbutus many times over the last year, focusing on a situation pitting it against Moderna (Yes, that Moderna). The two were in conflict over Arbutus’s lipid formulations for nucleic acid delivery. Recently, the U.S. Court of Appeals for the Federal Circuit confirmed that findings from a patent review board upheld parts of the 2 Arbutus patents on drug-delivery technology because “Moderna has no standing” to appeal (See: Penny Stocks To Watch Today: ABUS, Moderna, A Big Win For Small Caps).

This week, the company expressed optimism surrounding its COVID-19 research agreement with X-Chem and Proteros biostructures. Arbutus identified several molecules that inhibit the SARS-CoV-2 nsp5 main protease. In simple terms, the company explained that this justifies accelerating the development of pan-coronavirus agents and potential future outbreaks. It also allowed Arbutus to obtain a worldwide exclusive license to the identified molecules.

ABUS Stock Forecast

What do analysts think about ABUS stock? HC Wainwright as a Buy right now. The firm also has an $8 price target set. Based on current levels, that’s roughly 90% higher right now.

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best penny stocks to buy according to analysts Arbutus Biopharma ABUS stock chart

Are Penny Stocks A Buy In Your Book?

It’s great to know what analysts think. But you are ultimately the one who decides to buy. Based on recent developments and analyst sentiment, comment below if any of these are on your list of penny stocks to watch right now.


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