Apr 02, 2021 (Penny Stocks via COMTEX) -- Analysts Say Buy These Penny Stocks; Do You Agree?
Many have taken an interest in penny stocks over the last year. By definition, this term refers to stocks that trade under $5. Inherently these stocks are very risky and volatile in nature. This can be a good thing or a bad thing, depending on your experience level. What we do know is that there has been plenty of penny stock success stories. These can often move up or down 50-100% in a single trading session.
The market for biotech penny stocks has been very active in the last year. The pandemic brought a lot of new attention to the sector that was not there previously. Currently, penny stocks in this sector are still being driven by a lot of that momentum. One other thing impacting these stocks is the new trend of retail or, as what people now like to call " Reddit traders ."
What started as a trend with GameStop ( NYSE: GME ) became a market phenomenon that has extended its reach to multiple industries & sectors, including biotech. There are a few things you should look out for when investing in penny stocks . The ideal investment is one in which the company has strong financial backing and notable market history.
Look at a company's financial reports, cash flow, debt ratio, and more to consider before investing. Acquisitions have also become a common thing in the world of small-cap companies. A buyout could result in huge gains for investors.
Hot Biotech Penny Stocks To Buy [According To Analyts]
As the biotech sector continues advancing, it is expanding the market even more. Many corporations are making significant trial progress, getting FDA approvals, and reporting positive news. The hype for penny stocks in this sector continues to increase due to how captivating it has been over the last year. Only time will tell which company could be the next Moderna ( NASDAQ: MRNA ) or Pfizer ( NYSE: PFE ) in terms of growth. One thing we can say for certain is that analysts have grown bullish on several biotech companies. Let's have a look at four that have just recently moved higher in the stock market this week.
Agenus Inc. ( NASDAQ: AGEN )
Arbutus Biopharma Corporation ( NASDAQ: ABUS )
MannKind Corporation ( NASDAQ: MNKD )
Hepion Pharmaceuticals Inc. ( NASDAQ: HEPA )
Penny Stocks To Buy [According To B. Riley]: Agenus Inc. /zigman2/quotes/203652144/composite AGEN +6.60%
Price Target: $8
This first biotech penny stock to buy, according to analysts at B. Riley, is Agenus Inc. The firm also has a price target of $8. Based on the closing price of $2.87 on April 1st, that puts their AGEN stock forecast price 178% above current levels.
This company has experienced a lot of positive momentum in the market recently. Agenus focuses on developing immune-oncology products. Many of these are antibody and vaccine-based. On March 15 [th] , Agenus provided a corporate update and its fourth-quarter and full-year financial report. Some of its advancements include completed filings and clinical data.
The CEO of Agenus, Garo Armen, Ph.D., said, "2020 was a pivotal year for Agenus, marking the beginning of our transition to a commercial company with the initiation of our rolling BLA filing for balstilimab monotherapy. We also reported positive data on multiple programs."
Balstilimab accelerated approval in second-line cervical cancer is expected to be a significant milestone in the transition to a commercial company. As we've seen many times in early-stage biotechs, the real proving ground is getting treatments to market. As a key inflection point for Agenus' combinations strategy, this could be an important time for the company and the market.
Looking ahead to Q2, another pipeline treatment, AGEN1777, is expected to have an investigational new drug filing made. A Phase 1 study will follow in Q3, according to the company. The treatment is designed to improve anti-tumor activity.
Let's take a look at some very basic technical levels on the chart. If you're looking for some historic areas for AGEN stock right now, this week's action appears to be around the same levels that the penny stock traded around in May of 2020. It also tested this area in late July as well as in early March. Will the latest trend see AGEN push back above this level, or will it fail once more in April?
Penny Stocks To Buy [According To H.C. Wainwright]: Arbutus Biopharma Corporation /zigman2/quotes/203237619/composite ABUS +4.80%
Price Target: $10
Another one of the penny stocks to buy right now, according to H.C. Wainwright, is Arbutus Biopharm. Its $10 price target represents an ABUS stock price forecast of 191% based on the closing price on April 1st. The biotech company has experienced a lot of positive progress over the last few months. The company develops and commercializes treatments for patients with Hepatitis B.
Arbutus recently announced a new advancement on March 16 [th] . It received regulatory approval to start a Phase 1a/1b clinical trial with AB-836. This is an oral capsid inhibitor to treat chronic Hepatitis B.
The Chief Scientific Officer of Arbutus said, "Based on pre-clinical studies with AB-836, which is derived from a novel chemical series in this class, we believe it has the potential for improved clinical efficacy and safety as well as a favorable resistance profile relative to earlier-generation capsid inhibitors."