Analysts See Big Upside In These Penny Stocks
Whether you’re looking for penny stocks to buy now or ones to add to a watch list, there’s a process involved in finding the best. Of course, a lot will depend on your strategy and outlook on the market. But there are a few basic steps to take. First, understanding why certain stocks move the way that they do.
Take, for instance, some of the meme stocks or cheaper stocks on Webull & Fidelity. These companies saw their share prices surge thanks to flocks of retail traders scrambling into the market. Lower-priced shares are attractive because even the slightest move in price can mean significant gains for your portfolio.
You also can forget to account for specific fundamental catalysts. Over the weekend, we discussed 10 penny stocks to watch this week based on potential catalysts. These included industry presentations, important trial data, and the like. Understanding what’s coming next can help you identify speculative momentum. Then you’ve also got expert opinions.
Analyst firms can bring another layer into the due diligence process. While they shouldn’t be the only thing to base your investment decisions on, these firms can offer some insight to the table that you might’ve not thought about or missed along the way. In today’s article, we’re looking at a few penny stocks to buy, according to analysts right now. They’ve also been given price targets of more than 100%.
Best Penny Stocks To Buy [according to analysts]
- AIkido Pharma Inc. (NASDAQ:AIKI)
- Selecta Biosciences Inc. (NASDAQ:SELB)
- Progenity Inc. (NASDAQ:PROG)
- 9 Meters Biopharma Inc. (NASDAQ:NMTR)
- Trevi Therapeutics Inc. (NASDAQ:TRVI)
1. Alkido Pharma Inc. (NASDAQ:AIKI)
Alkido Pharma is a unique biotech company. I say this because, at its core, it focuses on developing a portfolio of small-molecule, anti-cancer therapeutics. However, in the last few months, Alkido has evolved into something that closely resembles an incubator of sorts.
The company has made strategic investments into businesses with exposure to popular industries. These include companies like DatChat (NASDAQ:DATS), which has grown in popularity for its blockchain and cybersecurity pegged social media platform. Alkido has also gotten into the budding electric vehicles industry thanks to its latest equity stake.
Recent AIKI Stock News
Late last month, Alkido announced its acquisition of an equity interest in Tevva Motors. This is an electric truck producer with vehicles already on the road. Based in the UK, Tevva has developed medium-duty commercial vehicles that use the company’s EV technology.
An exciting part about this deal is that Alkido thinks that it “represents an opportunity to partake in a rapidly expanding field, with the possibility of an exit in early 2022 as Tevva pursues a public listing.”