5 Penny Stocks To Buy According To Analysts & Targets Up To 341%

Penny Shares To Buy According To 4 Analysts Right Now

If you are looking for penny stocks to buy, you may be looking for specific trends. We have covered many of these over the past few weeks. Whether it’s low float stocks, high short interest penny stocks, or even trending stocks on Reddit, you have plenty of options to choose from. Today, we will see a list of penny stocks that analysts have decided to give bullish ratings to. Yes, this also includes price targets above 341% compared to current commercial levels.

5 penny stocks to buy according to analysts & targets up to 341%

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Penny stocks to buy [According To Analysts]

  1. Idera Pharmaceuticals (NASDAQ: IDRA)
  2. Biofrontera Inc. (NASDAQ: BFRI)
  3. SPI Energy (NASDAQ: SPI)
  4. ReWalk Robotics (NASDAQ: RWLK)
  5. Arbutus Biopharma (NASDAQ: ABUS)

Penny stocks to buy [According To Barclays]: Idera Pharmaceuticals (NASDAQ: IDRA)

Idera Pharmaceuticals has been under constant pressure for most of the year. It has fallen from highs of $ 6.14 to just $ 0.5659, and that low was reached this week. Thanks to the nearly 100% drop in the share price, IDRA shares have not been the most popular name on this list of penny stocks. The drug development company has publicly stated that it remains focused on “identifying new developments or commercial-stage assets” for its portfolio. Also, according to CEO Vincent Milano, there could still be some potential in the company’s current portfolio.

“Studies are also continuing in patients with microsatellite stable colorectal cancer (ILLUMINATE-206) and, in association with AbbVie, in patients with squamous cell carcinoma of the head and neck. We look forward to sharing the results of the second stage of ILLUMINATE-206, involving tilsotolimod in combination with Bristol Myers Squibb’s nivolumab and ipilimumab, by the end of the year. “

Taking advantage of this idea of ​​”potential”, details emerged this week related to a patent granted by the European Patent Office. The patent is titled “TREATMENT OF CANCER WITH TLR9 AGONISTS AND CHECK POINT INHIBITORS” and was revealed during the afternoon session on December 8th. This appears to have helped attract much-needed attention to the company after a tumultuous year.

IDRA Stock Forecast

Looking at some of the few analyst ratings, Idera has only seen a few weights on the outlook. However, according to Barclays (which has an equal weight rating), the advantage could be as much as $ 2. This is where the firm set its price target this year. Based on current price levels, that’s 165% higher right now.

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Penny stocks to buy [According To Roth Capital]: Biofrontera Inc. (NASDAQ: BFRI)

Biofrontera has been in focus recently thanks to the movements in the market after its IPO. We talked about the company yesterday about a list of floating penny stocks to watch right now. In this case, the outstanding share count of BFRI shares is below 20 million shares at this time, a level that is generally considered a threshold for “low-float” stocks. But there is more to consider than the float of the company.

Since Biofrontera is biotech, there is no shortage of volatility thanks to new developments. Unlike Idera, those of Biofrontera have been more favorable than this year. It recently launched its clinical study program to optimize and expand its market position for its Ameluz treatment. This is the FDA approved licensed Biofrontera prescription for photodynamic therapy in the USA.

Biofrontera has also begun enrolling subjects in its Phase 1 study on the safety and tolerability of photodynamic therapy in the treatment of actinic keratosis using Ameluz with the company’s BF-RhodoLED XL lamp. The study will eventually enroll 100 subjects with mild to severe actinic keratoses on the face and scalp.

This week, the company also reported a Grant Notice from the US Patent and Trademark Office entitled “Lighting Device for Photodynamic Therapy, Method of Treating a Skin Disease, and Method of Operating a Lighting Device.” According to the company, this protects specific innovations related to its RhodoLED XL lamp.

BFRI Stock Forecast

According to the latest outlook from Roth Capital, BFRI’s shares were rated Buy. Roth also set a $ 20 price target on the biotech penny stock. Based on current levels, that’s 341% higher right now.

best penny stocks to buy according to analysts biofrontera bfri stock chart

Penny stocks to buy [According To Maxim]: SPI Energy (NASDAQ: SPI)

One of the hot areas in the stock market today is infrastructure. But it is not just about steel or cement companies. Renewable energies and alternative energies are also assuming a leading role. SPI Energy provides solar storage and electric vehicle solutions for business, government, and residential offerings.

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The company’s solar arm, SPI Solar, reported that it acquired an existing lease for a 140,000-square-foot Sunergy solar photovoltaic plant in California earlier this week. SPI said it aims to begin serving the US market next quarter while the facility’s technology is updated. Ultimately, it should have more than 1.1 gigawatts of capacity by the second quarter of 2022. What do analysts think?

SPI Stock Forecast

Analysts at Maxim seem bullish on SPI’s stock. The company has a Buy rating and a target of $ 12. Based on current levels, that target is about 164% higher right now.

best penny stocks to buy according to analysts spi energy spi stock chart

Penny stocks to buy [According To HC Wainwright]:

HC Wainwright is another popular company that tracks stocks from all market capitalizations. In particular, it has given insight into many penny stocks. Here are two on which he has provided a bullish view this year.

ReWalk Robotics (NASDAQ: RWLK)

ReWalk develops portable exoskeletons for people with lower extremity disabilities. It also came out of a strong third quarter recently, which hasn’t hurt the momentum in the stock market either. Its EPS was much higher than the same period in 2020, and sales also significantly exceeded estimates. In fact, according to CEO Larry Jasinski, “During the third quarter, we have continued to demonstrate quarter-over-quarter growth and the results for the third quarter of 2021 mark our highest quarterly revenue in the last 4 years.”

With the opening of new markets, ReWalk has expressed optimism to continue this momentum through the end of the year. So as the market looks ahead, we look at what analysts think.

RWLK Stock Forecast

According to HC Wainwright, the company has a Buy rating on RWLK shares. Its $ 3.50 price target is also 155% higher than current levels at the moment.

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Arbutus Biopharma (NASDAQ: ABUS)

ABUS shares are no stranger to our watchlists. We have covered Arbutus many times over the last year, focusing on a situation that pits it against Moderna (Yes, that Modern). The two were in conflict over Arbutus lipid formulations for nucleic acid delivery. Recently, the US Federal Circuit Court of Appeals confirmed that the findings of a patent review board confirmed parts of the 2 Arbutus patents on drug delivery technology because “Moderna has no standing” to appeal (See : Penny Stocks To Watch Today: ABUS, Modern, A Big Win For Small Cap Companies).

This week, the company expressed optimism around its COVID-19 research agreement with the X-Chem and Proteros biostructures. Arbutus identified several molecules that inhibit the major SARS-CoV-2 protease nsp5. In simple terms, the company explained that this justifies accelerating the development of pan-coronavirus agents and possible future outbreaks. It also allowed Arbutus to obtain a worldwide exclusive license for the identified molecules.

ABUS share forecast

What are analysts saying about ABUS shares? HC Wainwright as Shop right now. The firm also has a set price target of $ 8. Based on current levels, that’s about 90% higher right now.

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Are Penny’s shares a purchase on your book?

It’s great to know what the analysts think. But in the end it is you who decides to buy. Based on recent developments and analyst sentiment, comment below if any of these are on your penny stock list to view now.

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