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2 “Strong Buy” Penny Stocks That Offer Massive Potential Gains

Penny stocks, you either love them or you hate them. One of the obvious draws of these stocks trading for under $5 per share is the ability to get more
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Penny stocks, you either love them or you hate them. One of the obvious draws of these stocks trading for under $5 per share is the ability to get more bang for your buck. And should these bargain priced stocks see their share prices rise by only a small amount, the rewards can be staggering.

However, before jumping right into an investment in a penny stock, Wall Street pros advise looking at the bigger picture and considering other factors beyond just the price tag. For some names that fall into this category, you really do get what you pay for, offering little in the way of long-term growth prospects thanks to weak fundamentals, recent headwinds or even large outstanding share counts.

Taking the risk into consideration, we used TipRanks’ database to find compelling penny stocks with bargain price tags. The platform steered us towards two tickers sporting share prices under $5 and “Strong Buy” consensus ratings from the analyst community. Not to mention substantial upside potential is on the table.

Evofem Biosciences (EVFM)

We’ll start with Evofem, a biopharma research firm with a specialized niche focus on women’s reproductive and sexual health. The company is working to develop products that are controlled by women, allowing users to take charge of non-invasive methods for contraception and prevention of STDs. The company put its first approved product, the hormone-free prescription contraceptive vaginal gel Phexxi on the market in September of last year. Another product, EV0100, is also a vaginal gel product and is undergoing clinical trials as a preventative treatment for chlamydia and gonorrhea.

The company has reported dispensing over 14,000 Phexxi units in 2Q21, with prescriptions written by over 5,400 healthcare providers during the quarter. The product saw a 68% sequential gain in sales from Q1 to Q2, a 47% increase in prescriptions written, and 65% increase in dispensed unit. For forward-going prospects, 60% of new users of Phexxi are in the prime 18 to 34 demographic.

On the financial end, the company reported that Phexxi sales revenue grew sequentially from $1.1 million in Q1 to $1.9 million in Q2. Evofem reported an EPS loss of 27 cents per share in Q2, which was an improvement from the 56-cent EPS loss in Q1 and the 91-cent loss in the year-ago quarter.

Also of interest to investors, the EV0100 track continues to progress. The drug candidate, which showed positive results from a Phase 2b trial earlier this year, is currently enrolling for the Phase 3 EVOGUARD trial. Enrollment is expected to be completed by the end of this year, with top line results to come in 2022. In the Phase 2b study, EV0100 usage yielded statistically significant reductions in chlamydia and gonorrhea infection rates versus placebo after 6 months.

Even though COVID-19 has impacted the company’s performance, Piper Sandler analyst David Amsellem believes that at $0.80, Evofem's share price presents an opportunity to get in on the action.

“Though pandemic-related headwinds are a reality, prescription (Rx) volume growth was brisk, and notably, management did cite more aggressive growth amid societal normalization in the back half of 2Q21. We continue to believe that Phexxi represents a highly differentiated modality (i.e., a non-hormonal, on-demand, female-controlled option that has barrier method-like efficacy) in the vast prescription contraceptive space, and believe that the product will eventually reach critical mass (with peak U.S. sales potential of $400M+ as realistic, in our view). Given that backdrop, we believe that EVFM shares are trading at an attractive risk reward profile," Amsellem opined.

In line with his bullish stance, Amsellem rates EVFM an Overweight (i.e. Buy), and his $5 price target implies room for a whooping 528% upside potential in the next 12 months. (To watch Amsellem’s track record, click here)

What does the rest of the Street have to say? 3 Buys and 1 Hold add up to a Strong Buy consensus rating. Given the $3.50 average price target, shares could climb ~340% in the year ahead. (See EVFM stock analysis on TipRanks)

Immutep (IMMP)

The second penny stock we’ll check out is Immutep, a clinical-stage biopharma company engaged in developing new immunotherapies for cancer and autoimmune disorders. The company is using Lymphocyte Activation Gene-3, or LAG-3, as a base for its therapeutic research. LAG-3 is a cell surface molecule with an immune regulation role. Immutep has several clinical-stage research lines based on LAG-3.

The company’s lead drug candidate, Eftilagimod alpha (efti, IMP321), is being assessed in combination with PD-1/PD-L1 agents or chemotherapy in numerous clinical trials in metastatic breast cancer, non-small-cell lung carcinoma (NSCLC), head and neck squamous cell carcinoma, solid tumors, melanoma, and Covid-19 diseases. The second asset IMP761 is at the preclinical stage for autoimmune disease.

Based on the strength of data from Immutep's key trials – Phase 2b AIPAC trial in metastatic breast cancer (mBC) and Phase 2 TACTI-002 trial in 1st line non-small cell lung cancer patients and 2nd line head and neck cancer patients, Immutep has expanded the clinical development of efti to later stage settings. The company is expected to start 3 new trials in 2022.

Among the bulls is Ladenburg's 5-star analyst Ahu Demir who writes: “In our view, Immutep is one of the most diverse players in the LAG-3 arena. The company has shown compelling data in multiple indications. Immutep is not only pursuing multiple opportunities in cancer including head and neck squamous cell carcinoma (HNSCC), metastatic breast cancer, and non-small cell lung cancer (NSCLC) but also in advanced stages of development versus competitors and also tapping into autoimmune disease.”

The analyst summed up, "Given the current market cap... we see attractive value creation and upside potential for IMMP stock, with also upcoming key potential catalysts in 2H21/1H22."

Demir’s comments back up her Buy rating on the shares, and her $8.30 price target implies a one-year upside of ~122%. (To watch Demir’s track record, click here)

Overall, Immutep gets a unanimous Strong Buy from the Wall Street analysts, with 3 recent reviews all in agreement that the stock is a Buy. The shares are priced at $3.70 with an average price target of $8.43, slightly more bullish than Demir’s and suggesting an upside of ~125% for the year ahead. (See IMMP stock analysis on TipRanks)

To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post 2 "Strong Buy" Penny Stocks That Offer Massive Potential Gains appeared first on TipRanks Financial Blog.

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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