Analysts Love These 5 Penny Stocks; Do you?
Will Those 5 Penny Stocks Make It To Your List This Week?
Penny stocks, like all other stocks, is a popular topic among investors. Obviously this year has been a little different thanks to a massive sell-off in the stock markets in March. This actually created a higher demand for penny stocks In my opinion.
We have seen and continue to see countless “popular companies” trading like penny stocks. Many of them are struggling to stay alive as businesses. Massive bankruptcies and even companies that go bankrupt have brought the term “”penny stocks“in a whole new light.
On the other hand, we have growing businesses; do not contract. In these cases, the idea of penny stocks is more akin to expansion and optimistic sentiment. These are not businesses that fail to survive, but more so businesses that aim to thrive. The good part about these companies is that analysts are taking note. I’m not the type to say that everything stock analysts say is set in stone.
These are normal people we are talking about. But what I will say is that when it comes to research, I wouldn’t completely ignore what analysts have to say. As a new week approaches, I’m willing to bet that at least some of these penny stocks could be on a watch list or two.
Penny Stocks to Buy [according to analysts]: SINTX Technologies, Inc.
Since hitting a 52-week low of $ 0.28, Sintx Technologies, Inc. (SINT stock report) is rising very steadily. Unlike most high volatility products penny stocks to watch this year, the SINT share price has moved slowly. But that doesn’t rule out the fact that stocks have rebounded more than 100% since March 19. In fact, SINT is up 176% at Friday’s close. It also climbed to $ 0.88, marking a move of over 210%.
Where do analysts place SINT stock? According to the most recent information, analysts’ average ratings place the penny stock at a “Moderate purchase“. What does SINTX do? The company mainly focuses on silicon nitride and its applications. Specifically, silicon nitride and its medical application.
This week, SINT could not only be one of the penny stocks to watch according to analysts, but also according to what the company announced over the weekend. On June 20, SINTX reported an update related to the coronavirus. The company announced that in a controlled laboratory study, the SARS-CoV-2 virus was inactivated when exposed to SINTX sintered silicon nitride powder. SINTX said it plans to share additional data “soon” once the results are posted in a quick review forum.
Dr Sonny Bal, CEO of SINTX, said: “The antiviral data is consistent with the well-established antibacterial properties of SINTX silicon nitride and with previously reported efficacy against several single-stranded RNA viruses. Further tests in independent external laboratories are underway to corroborate the effectiveness of silicon nitride against SARS-CoV-2. “
Penny Stocks to Buy [according to analysts]: Selecta Biosciences
Another of the biotech penny stocks with high analyst ratings, Selecta Biosciences (SELB Stock Report) recorded above-average volume on Friday. This came after Sarepta Therapeutics Inc (SRPT Stock Report) announced a licensing agreement with Selecta Biosciences. The agreement is for the license of Selecta’s immune tolerance platform, ImmTOR. It will target Duchenne muscular dystrophy and certain girdle muscular dystrophies.
There were no monetary details revealed (yet). However, according to the update, Sarepta will make an upfront payment to Selecta upon signing the agreement. Selecta is also eligible to receive additional preclinical payments within the term of the option. If Sarepta opts for an exclusive license agreement exercises its options to enter into commercial license agreements, it will be eligible for additional milestone payments for development, regulation and commercialization and royalties on net sales of products. .
Where do analysts place SELB stock? According to the most recent information, analysts’ average ratings place the penny stock at a “Strong buyDespite Stifel’s recent demotion from Buy to Hold, hedge funds seem to like SELB at the moment. According to Insider Monkey, SELB was in 21 hedge fund portfolios at the end of March. For comparison, there are had 13 hedge funds in its database with SELB holdings at the end of the previous quarter. For more information on the largest SELB holders, see the company’s 13D and 13G statements here.
Penny Stocks to Hold [according to analysts]: Evoke Pharma inc.
It has become a common theme among penny stocks to watch. Biotechnology tends to take pride of place among the industries to watch. If Evoke Pharma Inc. (EVOK actions report) sounds familiar, it’s probably because it should be. Back in May, we offered a little insight into this company. It was at this point that Evoke announced that the US FDA conditionally accepted the proprietary brand name “Gimoti”. It is Evoke’s nasal spray product candidate for symptom relief in adult women with acute and recurrent diabetic gastroparesis, as resubmitted in New Drug Application 505 (b) (2).
As stocks rose before the announcement, this trend continued long afterward. As of May 20, EVOK stock climbed to $ 2.80, jumping 52%. However, the latest update, which arrived late Friday afternoon, could signal a potentially “big event” for the company.
At approximately 3:30 p.m. EST on June 19, Evoke announced that the US FDA had approved the new drug application for GIMOTI ™ (metoclopramide). According to the company, this approval represents the first new pharmaceutical treatment for gastroparesis in several decades.
Where do analysts place EVOK stock? According to the most recent information, analysts’ average ratings place the penny stock at a “HoldWhile this is not a buy note, officially it is not a moderate to strong sell either. Given that this latest news came in late Friday afternoon. , this might be something to keep in mind ahead of the week.
Penny Stocks to Buy [according to analysts]: MannKind Corporation
MannKind Corporation (MNKD Stock Report) is another of the penny stocks on the move since mid-March. Like Evoke, MannKind fell to 2020 lows at the end of Q1 and has been climbing steadily since. In fact, since the March 16 low at $ 0.80, MNKD stock has jumped 150% after last week’s 2020 high of $ 2 last week. If you’re not familiar with what MannKind is doing , it does not matter. It has long been considered one of the penny stocks with an active following. The company focuses on inhaled therapeutics for patients with diseases such as diabetes and pulmonary arterial hypertension.
Is MannKind a penny stock to watch this week? As the final days of the month and quarter approach, MNKD could be a stock to watch given what is happening on Wednesday. The company will be featured in a virtual presentation and fireside chat at the Lytham Partners Virtual Investor Growth conference in June 2020. The Company’s presenter will be its CEO, Michael Castagna, Pharm D.
New clinical study data for its Afrezza® (human insulin) inhalation powder was presented at the 80th Scientific Sessions of the American Diabetes Association earlier this month. It should be noted that an analysis has shown that treatment with Afrezza is associated with weight loss in patients with type 2 diabetes. This is compared to weight gain with insulin injected at mealtime. Where do analysts place MNKD stock? According to the most recent information, analysts’ average ratings place the penny stock at a “Strong buy“.
Penny Stocks to Buy [according to analysts]: Kitov Pharma Ltd.
One of the most discussed topics Biotech penny stocks in May and June was Kitov Pharma Ltd. (KTOV Stock Report). However, before that, just like the other penny stocks mentioned above, KTOV shares fell in March and have risen steadily since then. Shares fell to a low of $ 0.22 on March 13 and climbed to $ 0.705 in mid-May.
One of the clear technical trends, if you look at a KTOV stock chart, is that its 200-day moving average continues to act as a point of resistance. This actually dates back to 2018. Whenever KTOV’s stock tests this level, it may briefly exceed it, but has yet to manage to maintain it. Needless to say, the general trend was up from mid-March to the end of June.
Apart from that, Kitov focused on his advancements in pain management and immune diseases. Last month, the company announced that the US FDA had accepted its request for a new investigational drug to conduct a phase 1/2 clinical trial. The trial will be based on its NT219, an agent that addresses treatment resistance in advanced cancer. According to Kitov, the study will evaluate NT219 as a monotherapy treatment for advanced solid tumors.
KTOV could be another of the biotech penny stocks to watch this week as it is about to present data. On Monday, the company will present preclinical data for NT219 in a poster at the American Association of Cancer Research Virtual Meeting II. Where do analysts place KTOV stock? According to the most recent information, analysts’ average ratings place the penny stock at a “Strong buy“.