In this article, we talk about 5 of the 10 penny stocks to buy now, according to analysts. If you’d like to see the second half of this list, check out 5 Top Penny Stocks Analysts Say To Buy Now With 123%-733% Targets . These Wall Street firms have weighed in and given Buy ratings and some pretty hefty price targets to pair with their ratings. Also, by definition, we’re talking about stocks under $5, but all are listed on major exchanges like the Nasdaq and NYSE. This means that most brokers should allow you to view things like charts, filings, and the like.
Keep in mind that just because they’re not listed on the OTC, there isn’t risk. These companies are considered penny stocks for a reason. Much of the time, it has to do with the early stages of development that they are in. However, find the right mix of risk and reward, and these cheap stocks can offer plenty of opportunities to make money.
The beauty of investing in penny stocks, besides making quick money, is the ability to take a stake in companies early on. No matter what popular opinion may say, these aren’t lottery tickets or roulette bets. You can find that some penny stocks have the potential to offer real value in the long run. The list of examples of penny stocks that hit it big for investors continues growing. GameStop ( NYSE:GME ), AMC Entertainment ( NYSE:AMC ), FuelCell Energy ( NASDAQ:FCEL ), Nio Inc. ( NYSE:NIO ), and Novavax ( NASDAQ:NVAX ) are a handful that’ve scored huge points for early investors.
Does this mean all penny stocks go on to trade upwards of $300 a share? No, but that type of underlying opportunity is what keeps retail traders and investment firms coming back for more.
Penny Stocks to Buy According To Analysts
Something else to keep in mind if you’re looking for penny stocks to buy: analysts aren’t always right. Depending on the timing of ratings and price forecasts, companies may be in different phases of development. The same rating “today” may not be relevant in a few months. Since we’re still talking about development stage companies, business models can evolve, expand, or completely change. We see this more frequently in industries like biotechnology and general information technology.
Read more: 4 Hot Penny Stocks To Watch This Week
Think about how many times you’ve read about a cloud-computing company shifting into cryptocurrency mining or biotech companies focused on influenza shift toward COVID vaccine development. Analysts can be very helpful in cutting through some of the noise at the time of their ratings. But there’s no substitute for old-fashioned due diligence, no matter the circumstance. With this in mind, here’s a list of 5 best penny stocks to buy now, according to analysts. We found several companies with recent coverage given and targets issued.
Best Penny Stocks To Buy [According To HC Wainwright]
10. Senseonics Holdings Inc. (NYSE:SENS)
Rating : Buy
Target : $6
Closing Price (10/18): $3.29
Senseonics ( NYSE:SENS ) is a medical technology company specializing in implantable glucose monitoring systems for diabetes patients. Its Eversense Continuous Glucose Monitoring System checks for glucose levels in adult patients for up to 90 days. It is intended to replace the traditional fingerstick glucose measurement devices broadly used right now.
Since the start of the year, Senseonics has been moving as it continues reaching new milestones in its Eversense platform development. The company recently offered the device to Medicare enrollees of the University Hospitals Accountable Care Organization in Cleveland. With research companies like Grand View Research expecting the global blood glucose monitoring device market to continue growing over 7% through 2028, Senseonics has been one of the companies gaining attention in the market.
SENS Stock Forecast
Analysts at HC Wainwright were the most recent to weigh in on the SENS stock forecast. The firm’s V. Bernardino initiated coverage with a Buy as well as a $6 price target. Compared to its most recent closing price of $3.29, this target is 69% higher right now.
9. Entasis Therapeutics (NASDAQ:ETTX)
Rating : Buy
Target : $6
Closing Price (10/18): $3.11
This week has been a busy one for Entasis ( NASDAQ:ETTX ). The company’s SUL-DUR platform is in focus after positive top-line results were released. This is Entasis’ treatment candidate for patients with infections caused by Acinetobacter baumannii. This pathogen typically infects critically ill patients. It can result in pneumonia, bloodstream infections, urinary tract infections, and asking infections.
According to the company, SUL-DUR met the primary safety objectives of the study and demonstrated a “statistically significant reduction” in nephrotoxicity. Considering that this is a Phase 3 trial, there’s been plenty of positive sentiment surrounding the latest development. What’s more, the company is now targeting mid-2022 to submit a New Drug Application. More details on this data could also be revealed on the company’s conference call Tuesday morning.
ETTX Stock Forecast
This week, analysts at HC Wainwright maintained their Buy rating on ETTX stock. The firm also boosted its $5 target to $6. Compared to Monday’s closing price, this target sits roughly 92% higher right now.
8. ToughBuilt Industries Inc. (NASDAQ:TBLT)
Rating : Buy
Target : $1.50
Closing Price (10/18): $0.5042
Unlike the other companies on this list of penny stocks , ToughBuilt ( NASDAQ:TBLT ) makes products for a completely different industry. The company develops and sells tools and accessories for the do-it-yourself construction community. I’m sure if you’ve shopped in popular big-box retailers, you’ve come across a few of ToughBuilt’s products.
On top of this, the company’s digital presence continues growing. Earlier this month, ToughBuilt gave an update on its current progress selling through Amazon ( NASDAQ:AMZN ). I’m sure to the appeal of current shareholders, the company reported a 101% bump in sales with a year-to-date total of $8.3 million.
“These exciting results from Amazon demonstrate the strength of our e-commerce expansion efforts and the acceptance of new products, which runs in parallel with our geographic expansion into new retail partners,” said Michael Panosian, CEO of ToughBuilt.
TBLT Stock Forecast
This week HC Wainwright initiated coverage on the penny stock. The firm started ToughBuilt with a Buy and announced a $1.50 price target for TBLT stock. Based on its closing level on October 18, that target is 197% higher right now.
Penny Stocks To Buy [According To Robert Baird]
7. Voyager Therapeutics (NASDAQ:VYGR)
Rating : Outperform
Target : $9
Closing Price (10/18): $4.55
Voyager Therapeutics ( NASDAQ:VYGR ) specializes in gene therapies for treating diseases like Huntington’s disease, amyotrophic lateral sclerosis, and spinal muscular atrophy. However, the most recent focus has been on the company’s deal with Pfizer ( NYSE:PFE ). The two entered into a licensing agreement for Voyager’s RNA-driven TRACER screening technology. This will become part of Pfizer’s efforts to develop gene therapies.
“Our collaboration with Voyager will provide Pfizer with access to additional AAV capsids that may help further advance our industry-leading gene therapy portfolio,” said Seng Cheng, Ph.D., Senior Vice President and Chief Scientific Officer of Pfizer’s Rare Disease Research Unit. With genre therapies and RNA-derived treatments gaining popularity thanks to early successes in the COVID pandemic, the event has shed some light on VYGR stock this month.
VYGR Stock Forecast
Retail traders aren’t the only ones noticing either. Analysts at Robert Baird upgraded VYGR stock to Outperform from Neutral earlier this month. The firm also boosted its price target from $6 to $9. Based on Monday’s closing price, that target sits 97% higher right now.
Penny Stocks To Buy [According To Aegis]
6. OLB Group Inc. (NASDAQ:OLB)
Rating : Buy
Target : $9
Closing Price (10/18): $5.18
OLB Group ( NASDAQ:OLB ) surged in early morning trading on October 19 thanks to cryptocurrency-related headlines. The company announced that its subsidiary, DMint began Bitcoin mining operations thanks to its first 100 mining machines. The company said it expects to have a total of 1000 rigs at its Pennsylvania data center by the end of the year, with upwards of 24,000 in the next 24 months. Thanks to Bitcoin’s popularity, headlines related to the king of crypto tend to illicit immediate reactions in the stock market. Today that has been the case during early trading.
OLB traditionally focuses on e-commerce merchant services and has recently gotten into cryptocurrency mining. Ronny Yakov, Chairman, and CEO of the OLB Group, explained in today’s press, “We are confident that we will have 1,000 Antminer S19j Pro miners operating by the end of this year. Once all 1,000 miners are fully operational, OLB Group will have the capacity for an additional $1.1 million in revenue monthly, assuming a base market price of $45,000 per bitcoin.”
OLB Stock Forecast
This may be an instance where more diligence is needed. The most recent firm to weigh in on OLB stock is Aegis, but it was much earlier this year. The firm issued a Buy on the stock along with a $9 price target. However, since OLB has a relatively lower float, volatility has begun playing a significant role. With this in mind, will analysts revise the current ratings as OLB stock surges on October 19?
Penny Stocks To Buy Now According To Analysts
This is just a handful of trending penny stocks today. The analyst ratings paint a brighter picture for some. But as with all investment decisions, it’s up to you to do the rest of the research and decide if you agree with analysts or if these should be avoided entirely. Want to see the rest of this list of penny stocks? Check out 5 Top Penny Stocks Analysts Say To Buy Now With 123%-733% Targets .