Penny stocks can be some of the most exciting types of stocks in the market. Few other asset classes offer such potential to see significant returns in such a short period of time. Now, by definition, we’re talking about stocks that trade for under $5. But, thanks to a fresh batch of analyst ratings and price targets, we’re going to look at both current and former penny stocks right now.
Some have seen analysts initiate coverage, while others have just had price targets boosted. I’ll say that Wall Street firms aren’t the only thing to reference when researching potential penny stocks to buy. However, thanks to their insight into a different industry and corporate factors, their analysis can be a welcome addition to your own.
After reading through this list of former penny stocks, check out 4 more companies that analysts were bullish on this year. Here’s a link to that article: Penny Stocks To Buy According To Analysts With Price Targets Up to 341%.Current & Former Penny Stocks To Watch With Bullish Analysts Right Now
- GT Biopharma Inc. (NASDAQ: GTBP)
- Syros Pharmaceuticals Inc. (NASDAQ: SYRS)
- National CineMedia Inc. (NASDAQ: NCMI)
- Paratek Pharmaceuticals Inc. (NASDAQ: PRTK)
- Centennial Resource Development Inc. (NASDAQ: CDEV)
Thursday morning, GT Biopharma shareholders woke up to an update from B. Riley Securities. The firm has a Buy rating on the stock and now upped its $21 to $26. This is currently the highest price target among all analysts covering GTBP stock right now. Other than B. Riley, Roth Capital and HC Wainwright also cover the company. Both have Buy ratings and $25 price targets.
Today analysts from B. Riley explained, “Based on the press release and our subsequent conversation with management, we are encouraged by the mounting evidence of clinical activity and the emerging safety profile of lead asset GTB-3550. Specifically, while patient 10 and 11 did not achieve clinical responses, patient 11 did demonstrate a notable reduction in CD33+ blasts, indicating on-target effects from the TriKE asset…With the dose-escalation portion of the trial expected to complete towards the end of August 2021, we are raising our probability of success for GTB-3550 in CD33+ acute myeloid leukemia (AML) and higher-risk myelodysplastic syndrome (HR MDS) from 25% to 30%, with a commensurate increase in our 12-month price target.” Read Full Analyst Report Here.
A big point of focus for the market has been on the current Phase 1/2 clinical trial for GTB-3550. What’s more, GT Biopharma has also established a strong pipeline of candidates targeting other indications as well. The company’s solid tumor TriKEs are being designed to target breast, lung, gastric, colorectal, and ovarian cancer indications. These include ones that express HER2 (GTB-6550), PD-L1 (GTB-4550), and B7H3 (GTB-5550).
In line with this, B. Riley also explained that NK cell therapy and GT Biopharma’s TriKE showed synergy in preclinical prostate cancer. The example below shows GT Biopharma’s GTB-5550 TriKE combined with Fate Therapeutics’ FT538 iNK cells. The combination demonstrated dramatic results compared to 3 other models on a 72-hour timeline.
Given the current outlook from analysts, advanced pipeline of treatment candidates, and ahead of the company’s next round of investor presentations next week, GTBP could be one of the stocks to watch right now.2. Syros Pharmaceuticals Inc. (NASDAQ: SYRS)
Shares of Syros haven’t experienced the same trend as GT Biopharma. In fact, the trend has been the exact opposite. Needless to say, this hasn’t deterred analysts from looking more closely at the company for opportunities. This week Roth Capital maintained its Buy rating on the company along with giving a $20 price target. The firm’s bull case for the stock is based on Syros ongoing Phase 3 study of its SY-1425 RARA agonist potential among newly-diagnosed unfit acute myelogenous leukemia patients.
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While not much has been released by the company recently, previous headlines give a bit of insight into what could be expected. CEO Nancy Simonian, M.D., explained in Syros’ earnings update that the company was on track to achieve its 2021 milestones. This includes initiating additional clinical trials with SY-1425 and its SY-2101 (for Acute Promyelocytic Leukemia) in the second half of the year. Syros expects to further report new dose-escalation data, including clinical activity, from its Phase 1 trial of SY-5609 in the third quarter. SY-5609 is designed to treat patients with breast, colorectal, lung, ovarian, and pancreatic cancers.3. National CineMedia Inc. (NASDAQ: NCMI)
Less than 8 months ago, shares of NCMI stock were trading under $2. However, since the start of the reopening trade, the former penny stock has skyrocketed. While it hovers around $5 right now, shares reached highs of $6.11 earlier this year. Thanks to the excitement surrounding meme stocks like AMC Entertainment (NYSE: AMC), National CineMedia has gained a bit more attention. This is because the company is the largest cinema advertising network in the U.S. With more people expected to head back to theaters, the ripple effects have become clear.
This week, B. Riley boosted its price target on NCMI stock from $6 to $7. The firm noted “strong” upfront ad demand. One thing’s for sure, attention on the “reopening trade” has grown. Everything from retail operators to entertainment facilities, travel, and leisure; are all getting a nice jolt of momentum in this post-pandemic economy.
In its latest earnings release, CEO Tom Lesinski said, “”We are excited for a strong summer movie season and second half of 2021 as there is an incredible film slate in store for cinema audiences, and for our advertising clients that want to reach them at a time when ad- supported television audiences are declining. This provides a great opportunity for our Company over the near and long term. While there are still many challenges ahead, the steps we have taken to expand, diversify and improve our business give me increased confidence for the remainder of 2021 and beyond.”4. Paratek Pharmaceuticals Inc. (NASDAQ: PRTK)
Sitting with the highest price target to retail level ratio, Paratek Pharmaceuticals continues to gain interest from Wall Street. Since last summer, shares of PRTK are up nearly 100% to date. Furthermore, if analysts at HC Wainwright are to be believed, there could be more to look for right now. The firm maintains a Buy on the stock but raised its price target this month. Previously, analysts set this at $22. However, as of June 2021, HC Wainwright set its sights on $28, a 290% increase above current trading levels.
H.C. Wainwright analyst Ed Arce added non-tuberculous mycobacterial to his model. The stock ended up dropping as the market focused on the delay of the second BARDA procurement. Arce explained that this was “simply a timing issue,” and the selloff was “way overdone.”
Earlier this month, the company announced a Phase 2b study in nontuberculous mycobacterial pulmonary disease. In this study, Paratek is exploring the potential utility of its NUZYRA® candidate targeting this disease. The study will follow 75 subjects through 12 weeks of treatment. But due to the small number of patients with this disease, the study could take 2 years to complete.5. Centennial Resource Development Inc. (NASDAQ: CDEV)
It isn’t just technology and health-related stocks gaining interest from analysts. Resource companies are also gaining steam. Centennial Resource has been one of the popular penny stocks to watch for months. Now it sits firmly north of that $5 threshold. Multiple analysts have picked up coverage on the company this month. Keybanc raised its target to $6. It maintains an Overweight rating on CDEV stock. RBC capital removed its “speculative risk” qualifier, citing “improved balance sheet” figures. It also boosted its target, and in this case, it was from $6 to $7. Furthermore, this week, BMO Capital adjusted its $5 target to $8 and maintained its Overweight rating.
Centennial is coming off of a strong quarter as well. The company beat sales estimates and recorded strong EPS growth compared to its previous year’s Q1. It’s also on pace to pay back its borrowing on its credit facility and “organically deliver the balance sheet through year-end,” according to Sean R. Smith, CEO of Centennial.
“Higher natural gas revenue more than offset increased operating costs during the quarter. We expect our unit cost metrics to return to normalized levels beginning in the second quarter and have reiterated our full-year production and cost targets,” said Smith.Penny Stocks & Analyst Ratings
For 4 more penny stocks to watch with bullish ratings, check out this article: Penny Stocks To Buy According To Analysts With Price Targets Up to 341%. While analysts are a great resource to use, they aren’t the only thing to fold into your research. Make sure you’re well aware of what’s happening in the stock market, in general. Understand current industry trends. It also doesn’t hurt to see where money is flowing into & out of.
What’s more, social sentiment remains a driving force for retail traders. So knowing which industries & sectors are hot also helps find new trading opportunities. Needless to say, these are just a handful of former penny stocks analysts are bullish on right now. Will they be on your Q3 2021 watch list heading into July?Pursuant to an agreement between Midam Ventures LLC and GT Biopharma (GTBP) Midam has been paid $150,000 for a period from March 1, 2021, to April 1, 2021. This compensation is payment 1 of 12 as part of a 12-month agreement between Midam Ventures LLC & GT Biopharma (GTBP), for a period from March 1, 2021, to February 28, 2022. Midam Ventures LLC expects to be paid $150,000 per month for a total of 12 months by GT Biopharma (GTBP). Midam has been paid an additional $150,000 for a period from April 2, 2021, to May 1, 2021. This compensation is payment 2 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from May 2, 2021, to June 1, 2021. This compensation is payment 3 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from June 2, 2021, to July 1, 2021. This compensation is payment 4 of 12 as part of the Agreement. We may buy or sell additional shares of GT Biopharma (GTBP) in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about GT Biopharma (GTBP). Click Here For Full Disclaimer