If you’re looking for penny stocks to buy, there are plenty of ways to find them. You could sift through hundreds of charts. There’s also plenty of news and corporate filings to look at. Maybe you want to find top penny stocks with insider buying or companies about to launch new products. No matter how you identify names for your watch list, research is obviously necessary.
But then you’ve also got the entire analyst community doing research as well. Here we have some of the bigger names on Wall Street doing the sifting for you, so to speak. Not that their research is better or worse than your own.
However, at the very least, they do offer a different perspective to take account of. Many will also give price targets based on the overall outlook and future trajectory of different business models. While targets and ratings are great, they aren’t the only things you should use to determine when or what to buy.
Something to keep in mind that even if analysts are bullish on a stock, a given company’s industry also plays a role. In the stock market today, certain industries, including tech, are down. In this case, a strong rating or price target might not be weighed heavier than the overall sentiment in the short term.
But again, whenever you start looking for penny stocks to buy, make sure you keep all of these things in mind. With that, we’re going to look at a few names that top analysts have grown bullish on.Penny Stocks To Buy [According To Analysts]
- Remark Holdings Inc. (NASDAQ: MARK)
- CASI Pharmaceuticals Inc. (NASDAQ: CASI)
- Avinger Inc. (NASDAQ: AVGR)
Shares of Remark Holdings were high-flying on April 30th, reaching $2.50 before the lunch hour. No headlines were released to pair with the move. However, it was one of the largest 1-day jumps that the penny stock has seen since February.
What was behind the MARK stock rally? The company has its roots in the reopening trade. If you’ve followed our coverage on the stock, you’ll remember that last year’s attention was piqued when Remark was Tweeting images of its technology being used in places like hotels and event spaces. The company specializes in AI solutions targeting public safety. In its March business update, the company highlighted expanding its partnerships with schools, retail outlets, banks, and corporate facilities.
Remark’s outlook on 2021 has also focused on building out smart solutions for these industries. Through its channel partnership programs with names like HP, the company has expanded the marketing efforts of its platform technologies.
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As far as analysts are concerned, Roth Capital has a Buy on the penny stock. It’s also expecting a lofty upside based on the current market price of MARK stock. The firm’s $10.50 price target is 383% higher than recent trading prices.Penny Stocks To Buy [According to Mizuho]: CASI Pharmaceuticals Inc. (NASDAQ: CASI)
Another one of the penny stocks with high hopes from analysts is CASI Pharmaceuticals. Right now, Mizuho analysts have a Buy on the stock along with a price target of $3.80. Based on recent trading in CASI stock, this would be a potential upside of over 100%, according to Mizuho. Will it be able to reach that target? A lot of that will depend on how the company executes its business plan.
CASI focuses on cancers in the blood. The company recently announced in-licensing of a VCP/p97 inhibitor, CB-5339, for hematological malignancies and solid tumors from Cleave Therapeutics. CASI is also looking to prepare for commercially advancing its CAR-T NDA filing. The company also has a checkpoint inhibitor, BI-1206, which it acquired from BioInvent last year.
I mention this because it is being investigated in a Phase I/II trial in combination with Merck’s (NYSE: MRK) Keytruda in solid tumors. There’s also a Phase I/IIa trial combined with Roche’s (OTC: RHHBY) MabThera for treating non-Hodgkin lymphoma. In its last corporate update on operating results in March, CASI said it intended to file an IND for BI-1206 with the NMPA in 2021 to start the clinical trials in China.
You’ve also got the company’s CID-103 treatment to keep track of. In the same update, CASI said it would begin Phase 1 studies in March. With multiple trials underway and bullish sentiment from analysts, CASI could be one of the penny stocks to watch this year.Penny Stocks To Buy [According to Northland Securities]: Avinger Inc. (NASDAQ: AVGR)
Shares of Avinger have managed to hold a solid uptrend over the last few weeks. Despite being off its 2021 high, AVGR shares are still up more than 130% year-to-date. The interesting part is that analysts at Aegis Capital Corp. still expect an even more upside. The firm’s Rommel Dionisio put a target of $2.50 on the penny stock earlier this year. Based on the current price level, that would represent a potential upside of nearly 100%.
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Why would analysts be so bullish on the company? While I’ll let you come to your own conclusions, a few things are going on with Avigner that the market has continued following. New publications were recently released, showing the clinical benefits of its clinical studies for its catheter-based system for diagnosing and treating Peripheral Artery Disease.
“These two recent clinical publications further highlight the safety and efficacy of Avinger’s PAD therapies, joining a body of work encompassing more than twenty clinical publications in peer-reviewed journals detailing the use of our Lumivascular technologies.”Dr. Jaafer Golzar, an interventional cardiologist and Avinger’s Chief Medical Officer.
As far as what to look forward to right now? Next week marks the period where the market will be able to lift the veil on Avinger’s first-quarter results. So if AVGR is on your list of penny stocks to watch right now, record May 6th as a date to remember.