Penny stocks are defined as shares of companies trading for under $5. They’ve come under plenty of scrutinies due to the higher risks involved in trading or investing in them. However, with that risk comes the potential for an even greater reward than other, higher-priced stocks.

Believe it or not, penny stocks are researched by more than just retail traders. Some of the top Wall Street analyst firms take a stab at finding penny stocks to buy.

Today we’ll look at a handful of names that some of them have made bold predictions about based on price targets. I’ll leave it up to you to decide if these firms are correct in their expectations or if the risk isn’t worth the potential reward.

Penny Stocks To Buy [according to analysts]

  1. Context Therapeutics Inc. (NASDAQ:CNTX)
  2. Palisade Bio Inc. (NASDAQ:PALI)
  3. Senseonics Holdings (NYSE:SENS)
  4. Flotek Industries (NYSE:FTK)

Penny Stocks To Buy [According To ThinkEquity]: Context Therapeutics Inc. (NASDAQ:CNTX)

This list of penny stocks is full of biotech names, and Context Therapeutics kicks things off. The company specializes in women’s oncology therapeutics and develops breast and gynecological cancers treatments.

Recent CNTX Stock News

The most recent update from the company highlighted 2 January conference presentations. At the Biotech Showcase and Edison Group Open House Global Healthcare conferences, the company participated in panel discussions and individual investor meetings.

Just before year-end, Context revealed data on its ONAWA trial and reported that its ONA-XR platform has the potential to help inhibit tumor spread. The o-principal investigator, Meritxell Bellet, also explained that “These results support further evaluation of ONA-XR in the treatment of early breast cancer.”

CNTX Stock Forecast

This week two firms initiated coverage on CNTX stock. HC Wainwright started Context with a Buy rating and a $6 price target. Meanwhile, ThinkEquity has much higher expectations for the penny stock. The firm gave its Buy rating on the stock but placed a $10 target. ThinkEquity appears to expect a potential upside of more than 300% based on current levels.

best penny stocks to buy now Context Therapeutics CNTX stock chart

Penny Stocks To Buy [According To Ladenburg Thalmann]: Palisade Bio Inc. (NASDAQ:PALI)

Shares of Palisade Bio jumped early on February 2 and made fresh 2022 highs. The company advances therapies for gastrointestinal complications, including restoring bowel function after surgery.

Recent PALI Stock News

Palisade came into the new year on the heels of several significant updates in December. The company reported a patent grant from the European Patent Office for its lead drug candidate LB1148. This protected the platform through 2035. In addition, a US Patent was granted for LB1148 for treating adhesions and postoperative ileus.

PALI Stock Forecast

This week, Ladenburg Thalmann initiated coverage on Palisade Bio. The firm started PALI with a Buy and placed a $5 target on the stock. Based on current trading levels, it appears that Ladenburg expects a potential upside of more than 200%.

best penny stocks to buy now Palisade Bio PALI stock chart

Penny Stocks To Buy [According To HC Wainwright]: Senseonics Holdings (NYSE:SENS)

Senseonics came into the new year on mixed sentiment. Shares were plummeting since mid Q4 after the company reported earnings. Senseonics has been working to advance its Eversense glucose monitoring platform with an FDA decision at the forefront of its strategy.

Recent SENS Stock News

There haven’t been many new updates from the company. However, the core focus is on the FDA’s next move. Senseonics has explained the FDA review phase for its 180-day continuous glucose monitoring system in the U.S. All questions have been answered, and “a decision regarding approval” is expected soon, according to the company.

SENS Stock Forecast

Based on the most recent rating from HC Wainwright, analysts have high hopes for the company. HC currently has a Buy on the penny stock and a $6 price target. Based on trading levels below $2.80 this week, the firm appears to expect a potential upside of over 100%.

best penny stocks to buy now Senseonics Holdings SENS stock chart

Penny Stocks To Buy [According To Noble Capital]: Flotek Industries (NYSE:FTK)

Flotek is not a biotech penny stock but is one that analysts appear bullish on. The company offers solutions to energy companies to reduce their environmental impact using technology to identify opportunities. Its client base includes oil and gas projects, oilfield services, and even solar energy companies.

Recent FTK Stock News

This week Flotek announced a new lont0term partnership. ProFrac Services will use Flotek to provide sustainable chemistry solutions to a portion of ProFrac’s hydro-frac fleets. According to the company, this “creates an immediate expected contracted backlog of revenue greater than $230 million.”

FTK Stock Forecast

Based on the most recent update from Noble Capital, expectations are high for this penny stock. The firm had reiterated its Buy rating late last year. It also has a $2.50 target on the stock. Considering that FTK shares trade around $1, that puts Noble’s potential upside expectations around 150%.

best penny stocks to buy now Flotek Industries FTK stock chart

Should You Buy Penny Stocks?

When analysts are involved, it can add another layer of depth to researching companies. You might wonder why the firms are so bullish or what they’ve found to justify price targets like these.

Generally speaking, no one should rely on one metric when it comes to finding the best penny stocks to buy right now. Using things in tandem can give a much clearer picture of the full potential (or lack thereof) when it comes to these cheap stocks.

Today we look at a handful of penny stocks to buy according to 5 separate analysts. Some targets suggested a considerable upside. But remember, when it comes to smaller companies, things can change quickly, which may or may not fall in line with what analysts initially expected.

If you’re brand new to trading, check out some of these articles to get you familiar with the basics of finding penny stocks to buy:


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