Penny Stocks With High Hopes From Analysts
If you’re looking for penny stocks to buy, there are plenty of things to research. You could hunt for low float stocks, companies with news, insider trading activity, or, like we’ll look at today, penny stocks with bullish analysts & price targets.
One of the great things about buying cheap shares of public companies is the potential that underpins that investment. There aren’t that many places you could invest a few hundred dollars and see returns of 100% or more within 24 hours or less.
All penny stocks aren’t prone to massive breakouts like that, but each day I write about stocks under $5, at least a few go on to experience explosive moves in the stock market.
Today, we’ll look at five companies that analyst firms have given a bullish outlook. They’re paired with price targets ranging from 55% to over 240% above the current market price.
Penny Stocks To Buy [according to analysts]
- Katapult Holdings (NASDAQ: KPLT)
- Progenity Inc. (NASDAQ: PROG)
- Arbutus BioPharma (NASDAQ: ABUS)
- Alzamend Neuro (NASDAQ: ALZN)
- CTI BioPharma (NASDAQ: CTIC)
Penny Stocks To Buy [According To Loop Capital]: Katapult Holdings (NASDAQ: KPLT)
Katapult Holdings has been on several of our penny stocks lists recently. Initially, KPLT was mentioned along with other stocks with higher short interest percentages. According to data from Fintel, the short float percentage sits around 12% for Katapult. What’s more, both insiders and analysts also appear bullish regarding the company.
Katapult specializes in point-of-sale lease-to-own financing. Last month shares began gaining steam after reporting an earnings beat for EPS and sales. Furthermore, the company’s insiders have been very active this month regarding new purchases. As of December 14, multiple directors and 10% owners have picked up shares at average prices ranging from $3.08 to $3.74.
KPLT Stock Forecast
In addition to the recent corporate success and insider activity, analysts also appear bullish on KPLT stock. According to Loop Capital, the firm has a price target sitting 77% higher than this week’s price levels ($7). It also has a Buy rating on the penny stock.
Penny Stocks To Buy [According To HC Wainwright]
HC Wainwright is another one of the more active analyst firms. This is especially the case for small- and micro-cap companies. Below are two that its analysts have given bullish ratings and targets this year.
Progenity Inc. (NASDAQ: PROG)
Similar to Katapult, Progenity has been on several lists of penny stocks with higher short interest. PROG stock has been on fire since the end of the 3rd quarter of 2021. Shares have climbed from below $2 to over $6. Some profit-taking has been seen over the last few weeks, but it would appear that Progenity has been able to maintain its trading levels above $2.10 for the previous few weeks.
Much of the attention from traders have focused on Progenity’s diagnostics platforms. Everything from testing for preeclampsia during pregnancy via its Preecludia platform to therapeutics for inflammatory bowel disease is in Progenity’s wheelhouse. This week the company has come into a bright spotlight following news of a new patent issued by the USPTO for methods of “capturing, amplifying, and imaging single copies of target nucleic acid molecules.” For example, this can be utilized by the company’s prenatal testing or in liquid biopsy for cancer.
PROG Stock Forecast
With an optimistic outlook by the market this week, shares of PROG stock have climbed higher. But it isn’t just retail traders that have grown bullish on the company. Analysts at HC Wainwright have also given their stamp with a Buy rating and a $4 price target. Based on current trading levels, this target is roughly 55% higher right now.
Arbutus BioPharma (NASDAQ: ABUS)
Shares of Arbutus have been on the radar recently. This was initially based on the company’s relationship to Moderna (NASDAQ: MRNA). Specifically, the two were in conflict over Arbutus’ lipid formulations for nucleic acid delivery. Earlier this year, the European Patent Office said that its 069 patent related to lipid formulations as “Inventive” (valid). The statement was in agreement with the US Patent and Trademark Office, which granted a notice of allowance.
This month 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. What’s more, this week’s attention has focused on several new developments. First, a patent dated December 7th has raised some eyebrows.
According to the abstract on the USPTO site, “The present invention provides compositions comprising nucleic acid molecules, such as mRNA molecules, encapsulated within lipid particles. The compositions are useful, for example, to introduce the mRNA molecules into a human subject where they are translated to produce a polypeptide that functions to ameliorate one or more symptoms of a disease.”
Obviously, with attention on mRNA delivery, this could be something to consider if ABUS is on your watch list from earlier in the month. But Arbutus isn’t a one-trick pony and has a pipeline of candidates in development. Arbutus and Antios Therapeutics also recently announced the first patient was done in a Phase 1a combination trial of ATI-2173, Arbutus’ AB-729, and nd tenofovir disoproxil fumarate in treating hepatitis B.
ABUS Stock Forecast
HC Wainwright analysts currently have a Buy rating on the penny stock. There’s also an $8 price target set, over 80% higher than current levels as of this article.
Penny Stocks To Buy [According To Ascendiant Capital]: Alzamend Neuro (NASDAQ: ALZN)
Alzamend Neuro is one of the companies we discussed over the weekend. In the article, “Best Penny Stocks To Buy? 5 To Watch With Potential Catalysts This Week,” we discussed upcoming details to be on the lookout for. Specifically, in a November update, the company said that it received confirmation that topline data from a Phase 1 trial of AL001 for dementia related to Alzheimer’s will be delivered “mid- to late-December” 2021. While no firm dates were given, we’re officially approaching mid-December, so speculation has become a possible factor to account for.
Alzamend develops treatments for neurodegenerative diseases and psychiatric disorders. Included in its pipeline are AL001 (mentioned above) and AL002, a patented method for restoring the immunological system to combat Alzheimer’s.
Similar to KPLT, Alzamend has also seen some insider activity this month. In particular, 10% owner and founder of Ault Global Holdings Inc. (NYSE: DPW), Milton Ault III, purchased over 20,000 shares of ALZN stock at the start of the month.
ALZN Stock Forecast
Right now, Ascendiant Capital’s $8 price target is roughly 211% higher than current trading levels in ALZN stock. The firm also has a Buy on the penny stock ahead of the proposed mid or late-December reveal of Phase 1 data.
Penny Stocks To Buy [According To BTIG]: CTI BioPharma (NASDAQ: CTIC)
CTI BioPharma has been in full recovery mode for the last few weeks. Thanks to FDA-related news, the company took a big hit at the end of November. CTI announced that the Food and Drug Administration extended the review period for its New Drug Application for its pacritinib in treating myelofibrosis. The Prescription Drug User Fee Act action date was pushed to February 28, 2022, initially set for November 30th of this year.
Regardless of the fall-out in the short term, CTIC stock has managed to bounce back roughly 40% from November’s lows. Furthermore, this week CTI presents five scientific posters on pacritinib’s clinical trial at the American Society of Hematology Annual Meeting.
“As we approach our PDUFA action date of February 28, 2021, we remain focused on bringing forward a new therapeutic option for patients with cytopenic myelofibrosis through our committed collaboration with the FDA.”Adam R. Craig, M.D., Ph.D., President and Chief Executive Officer of CTI BioPharma.
CTIC Stock Forecast
In addition to renewed optimism in the stock market, analysts have also become bullish on CTIC stock. BTIG, for example, has a Buy on the company right now. In addition, the firm set a price target of $7. Based on the latest trading levels for CTIC stock, that target is 246% higher right now.
Penny Stocks To Buy Or Avoid
If you’re looking for penny stocks to buy, analyst research is an excellent place to do some extra digging. It isn’t the ONLY place to look. However, since these firms tend to dig a bit deeper than your average retail trader, it can help cut down some of the legwork you would otherwise have to do.
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