Every retail trader wants to find penny stocks with huge potential. Thanks to the rise of the “Ape” movement, the opportunity in the market was presented during the early days of the pandemic. Weathered stocks like GameStop (NYSE: GME) or Bed Bath & Beyond (NASDAQ: BBBY) got their time in the sun as massive short squeezes triggered huge moves. While 2022 is a much different landscape than 2020 or 2021, retail traders remain on the hunt for penny stocks with huge potential. Today, we look at a few that analysts have high hopes for.

Penny Stocks With Huge Potential
[according to analysts]

Best Penny Stocks To Buy

Now, the critical part is figuring out the best penny stocks to buy. Since these cheap stocks can move hundreds of percentage points within minutes, a strategy is essential. This will also help determine “the best” based on your specific criteria. If you’re a swing trader, then a highly volatile penny stock might not be the best to buy. Then again, if you’re a day trader, stocks that take weeks to return gains aren’t the best for your trading style. At the end of this article, you can decide if you agree with four analysts on Wall Street with bullish outlooks on these penny stocks.

Better Therapeutics (NASDAQ: BTTX)

penny stocks with huge potential Better Therapeutics BTTX stock

What Does Better Therapeutics Do?

Better Therapeutics bills itself as a “prescription digital therapeutics” company focused on nutritional, behavioral therapy. Its goal is to address the causes of cardiometabolic diseases in patients. According to the American College of Cardiology, “An estimated 47 million people in the U.S. are living with cardiometabolic disorders, putting them at an increased risk of developing heart disease or type 2 diabetes.”

BTTX Stock News

Shares of BTTX stock have heated up this week. That was thanks to growing interest around low float penny stocks among the FinTwit (Financial Twitter) crowd. With some outlets showing a public float of fewer than 10 million shares, BTTX stock met the criteria. Since then, things have become much more active, and daily trading volumes are higher than average.

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BTTX Stock Forecast

What do analysts expect from BTTX stock? Earlier this year, Chardan Capital updated its outlook and maintained a Buy rating on the stock. The firm also boosted its $17 price target to $18, setting the bar high for Better Therapeutics. With trading levels around $2 right now, Chardan’s outlook implies a price 800% higher.

Alaunos Therapeutics Inc. (NASDAQ: TCRT)

What Does Alaunos Therapeutics Do?

Alaunos is a clinical-stage biotech company developing oncology-focused cell therapies. It has clinical and strategic collaborations with institutions like The University of Texas MD Anderson Cancer Center and the National Cancer Institute.

TCRT Stock News

Earlier this month, Alaunos announced that it dosed its first patient in its T-cell Receptor library Phase 1/2 trial for treating patients with solid tumors. Kevin S. Boyle, Sr., Chief Executive Officer of Alaunos, said, “We believe that our adaptive trial design has the potential to allow us to rapidly and cost-effectively identify the recommended phase 2 dose and quickly advance studies in the most promising indications. We look forward to an initial data readout in the second half of this year.”

TCRT Stock Forecast

What do analysts think about TCRT stock? Wells Fargo is the most recent firm to weigh in on the penny stock. Analysts gave the penny stock an Overweight rating and announced a $3 price target. Based on the latest trading levels below $0.70, Wells Fargo’s target is more than 320% higher.

Sunworks Inc. (NASDAQ: SUNW)

What Does Sunworks Do?

Solar and alternative energy stocks had their hay day last year. But in 2022, things have been a bit different. Sunworks has experienced significant levels of volatility, especially in March. This was when oil prices surged higher and triggered a sympathy move in solar-related stocks. Sunworksprovides high-performance solar power systems to its customers, so there was a direct impact on SUNW stock earlier in the year.

SUNW Stock News

There’ve been a few news catalysts that have brought some attention to SUNW stock. First, the company launched its ESG (Environmental, Social, & Governance) reporting program last month. Sunworks have created a corporate responsibility committee to manage these ESG activities. The company said it plans on delivering “measurable, multi-year targets” to prioritize its sustainability efforts. In addition, for those with SUNW stock on their list this month, keep May 16th in mind. This is when Sunworks delivers its next round of earnings results.

SUNW Stock Forecast

Northland Capital Markets initiated coverage on SUNW stock this week. The firm has an Outperform rating and announced a $4.50 price target. Though it isn’t the highest expectation on this list of penny stocks, Northland’s target is still more than 136% higher than current trading levels.

Mind Medicine Inc. (NASDAQ: MNMD)

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What Does Mind Medicine Do?

Psychedelic stocks are becoming a hot topic of discussion. Much like the early days of the cannabis boom, speculation has become a driving force more than fundamental analysis. MindMed is developing brain health treatments, including addiction, pain, and neurology.

MNMD Stock News

Last month MindMed announced plans for presenting topline clinical trial results for its LSD treatment for anxiety disorders. The details will be released next week at the PSYCH Symposium on May 11th.

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MNMD Stock Forecast

Roth Capital analysts initiated coverage on MNMD stock this week. The firm gave MindMed a Buy rating and a $7 price target. Based on MNMD stock’s price below $0.90, that target is hefty. Those keeping track at home will find it to be over 670% higher.

Penny Stocks With Huge Potential According To Analysts

The general theme of this article is all about analysts. Are they always correct? Are they always incorrect? The answer to both of those questions is no. Since that is the case, it’s always essential to research and determine if current trends align with your outlook. If any of these are on your list of penny stocks right now, do you agree or disagree with analysts?

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

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