Are you looking for penny stocks to buy right now? Let’s see what analysts have to say. Believe it or not, market analysts don’t solely cover higher-priced stocks like Apple or Netflix. Among the hundreds of companies with shares trading below the $5 threshold, some firms follow their development closely. Since many of these public companies are early stage, there is plenty of potential to look out for. Emerging biotech companies, tech businesses, entertainment stocks are just a few niches that’ve proven why penny stocks aren’t just a lottery ticket.
Penny Stocks TL;DR 30-Second Overview
- Penny stocks present high risk and high reward scenarios for traders and investors.
- The broad assumption is that they’re more akin to a lottery ticket than to a viable investment vehicle.
- Despite popular opinion, anlayst firms take the time to research these smaller comapnies beyond the surface to identify any potential that may be present.
- Today we look at 4 penny stocks that analysts have given Buy ratings to and issued price targets up to 117% higher than current levels.
Take, for instance, Novavax (NASDAQ: NVAX) and its biotech pipeline. Shares of the company were trading below $5 at the beginning of 2020. Fast-forward to about a year later, and NVAX stock reached highs of $331 thanks to critical milestones reached. Now, are analysts always correct in their outlook? No, but at the very least, traders and investors can use the research that these firms conduct and fold it into the overall diligence prices for finding the best penny stocks to buy.
Penny Stocks To Buy [According To Analysts]
- Inspira Technologies OXY B.H.N. Ltd. (NASDAQ: IINN)
- Selecta Biosciences Inc. (NASDAQ: SELB)
- Opko Health Inc. (NASDAQ: OPK)
- Ensysce Biosciences Inc. (NASDAQ: ENSC)
Penny Stocks To Buy [according to Aegis]: Inspira Technologies OXY B.H.N. Ltd. (NASDAQ: IINN)
We discussed Inspira earlier this week on our list of penny stocks with high short interest. According to data from Fintel.io, the percentage of the float short at the time of that article was 9.6%. However, considering that the penny stock’s float was also relatively small, that has become a focus for some traders in the stock market. Today, we can see that IINN stock has continued higher after jumping more than 20% since Tuesday.
Inspira has been inking new international deals to distribute its ART device. This is the company’s respiratory support system that functions as an artificial lung. The latest deals include expansion into Spain, Eastern Europe, the Middle East, and Africa. There are currently commitments for purchase orders for more than 2,500 ART units over the next seven years.
IINN Stock Forecast
Among analysts, Aegis has given a recent IINN stock price forecast. The firm maintains a Buy rating and recently updated its price target to $9. Based on current levels, that target sits 117% higher right now.
Penny Stocks To Buy [according to HC Wainwright]: Selecta Biosciences Inc. (NASDAQ: SELB)
Selecta is another one of the biotech penny stocks to watch this month. Since the end of November, shares are up over 12% to date as SELB stock continues recovering from last month’s pullback. It was also another one of the “short squeeze penny stocks” we discussed earlier in the week.
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One of the main points of interest is the company’s SEL-212 treatment candidate for chronic refractory gout. It combines Selecta’s ImmTOR immune tolerance platform with pegadricase. What’s more, the recent enrollment completion that was announced for a phase 3 study program could put the outcome front and center in 2022. Top-line results are expected during the second half of the year.
SELB Stock Forecast
As far as the SELB stock price forecast is concerned, HC Wainwright expects higher highs for Selecta. Whether or not that happens is to be seen. However, the firm has paired its Buy rating with a $6 price target. Based on current levels, that’s roughly 80% higher right now.
Penny Stocks To Buy [according to Barrington Research]: Opko Health Inc. (NASDAQ: OPK)
Opko Health has experienced a banner quarter so far. Since the beginning of October, OPK stock is up over 20%. Shares of the biotech company have surged in more recent sessions thanks to renewed concern over increasing virus cases. The need for more testing has been voiced by world leaders, including US President Joe Biden.
One of the hot button items is Opko’s COVID-19 diagnostics company, BioReference Laboratories. Earlier this month, the company announced COVID-19 testing preparedness for the Omicron Variant. BioReference’s PCR diagnostic tests for SARS-CoV-2 COVID-19 are based on identifying RNA target genes common to all coronaviruses. Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories, explained that the new Omicron variant “should have no impact” on the company’s ability to diagnose the presence of COVID-19.
With that, OPK stock has come back into the fold as attention refocuses on companies with exposure to the virus.
OPK Stock Forecast
Right now, Barrington Research is bullish on the company. Its most recent rating slapped a Buy on Opko and paired that with a $6 target. While it isn’t as high as the others on this list of penny stocks, Barrington’s OPK stock price target is still 30% higher than current trading levels.
Penny Stocks To Buy [according to Lake Street]: Ensysce Biosciences Inc. (NASDAQ: ENSC)
As I said earlier in this article, many biotech companies attract analyst attention. When you’re dealing with novel and life-changing treatments, there’s no shortage of things to take a closer look at. Ensysce is no different, and the last few sessions have seen the stock rally. The company develops pain treatment candidates via “tamper-proof” opioids designed to prevent abuse and overdose.
Read more: Best Penny Stocks to Watch as the Market Takes a Bullish Turn
There haven’t been many news headlines recently. But interest in analyst research has circulated among traders, which has become a catalyst of its own. It ultimately led to a volatile breakout to highs of over $6 earlier this month. The firm (I’ll discuss) made its forecast just after Ensysce’s news that it completed a positive safety review and enrollment of the last cohort of subjects at the highest dose level in its second study of its Trypsin Activated Abuse Protected (TAAP) Opioid, PF614. Furthermore, Ensysce explained that it expects to enter the bioequivalence stage of the study in January. Meanwhile, data from multiple studies are expected in the second quarter of 2022.
ENSC Stock Forecast
In a twist of events, the bullish outlook from analysts has already been eclipsed. Lake Street initiated coverage on ENSC stock at the end of November and gave it a Buy rating. However, the $4 target issued is already in the rearview. With upcoming catalysts to take notice of, it will be interesting to see if the company executes its plan laid out in November.
Top Penny Stocks To Buy According To Analysts
Remember, analysts, take a look at these companies beyond surface speculation. That doesn’t mean they’re always right or that they will be wrong. If there are companies on your list of penny stocks to watch and have analyst commentary, you can use it as a tiny piece of your much larger research process. At the end of the day, it’s up to you to decide.
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