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4 Best Penny Stocks To Buy Now According To Top Wall Street Analysts

4 penny stocks to buy right now according to top Wall Street analysts.
The post 4 Best Penny Stocks To Buy Now According To Top Wall Street Analysts appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Last year was a big year for the stock market. Broader exchanges reached record levels with some of the most bullish optimism in recent history. Thanks to reopening efforts, new vaccines, and a strengthening economy, investors shrugged off inflation and rate-hike fears in exchange for stocks at all-time highs.

That has dramatically changed in 2022. But even with the latest sell-off, the stock pickers of the market have hunted for discounts. Yes, this includes some of the underperformers of 2021 now trading as penny stocks under $5 right now. The biggest question is whether or not the higher risk is worth the potential reward.

Today we look at a handful of penny stocks to buy right now, according to top Wall Street analysts. They’ve taken a deeper dive into the fundamentals and came up with a bullish outlook. Let’s see what they’ve uncovered and if their analysis is worth the time to do your own deep dive.

Desktop Metal Inc. (NYSE: DM)

The first name on this list of penny stocks is a 3D printing company, Desktop Metal. It provides an array of solutions, including prototyping and mass production, and has gained acclaim from top industry groups. The World Economic Forum selected it as one of the world’s 40 most promising Technology Pioneers. It was also named to MIT Technology Review’s list of 50 Smartest Companies and won Fast Company’s 2021 Innovation by Design Award in materials.

The last few months have seen Desktop introduce several new mediums, including DM HH Stainless Steel for additive manufacturing on its Production System Platform. The company also qualified commercially pure copper for additive manufacturing on the Platform. Customers can leverage the company’s technology to produce high-performance SS and copper components at scale.

For the most part, Desktop Metal has struggled to mount a comeback since falling from highs last year. The penny stock has traded within a range of $3.25 and $4.25 for the last week. Expectations of a resurgence in manufacturing have been muted as economic uncertainty, proposed rate hikes, and global inflation loom.

Despite the downside, some analysts think there’s still plenty of upside with DM stock. Benchmark analysts place a $16 price target alongside a Buy rating. Should their expectations get met, Benchmark’s targeting an upside of over 330% from current levels. Other firms are a bit less bullish on the stock, including Lake Street Capital which recently boosted its Hold rating to a Buy but only has a $5 target set right now.

Amyris Inc. (NASDAQ: AMRS)

Shares of biotech penny stock Amyris are also a favorite of analysts right now. The company’s recent focus on vaccine development has placed a stethoscope on the company’s heartbeat. Late last year, Amyris and ImmunityBio, Inc. (NASDAQ: IBRX) inked a JV partnership for a COVID-19 RNA vaccine. John Melo, President and Chief Executive Officer of Amyris, explained this combination as one that “can be the real difference-maker for COVID-19.”

The JV was formally consummated earlier this year with plans to deliver a second-generation vaccine this year. Analysts appear to have mimicked a similar outlook as CEO Melo. Roth Capital’s recent coverage puts a $15 target on AMRS stock with a Buy rating to back it up. Though this was adjusted down from $22, it still represents a significant upside expected from the firm. Current trading levels have AMRS shares situated around the $4.50-$5 range, which would equate to Roth targeting an upside of over 200% right now. Other analysts, including Cowen and HC Wainwright, have placed higher targets on the stock over the last few months. For instance, Cowen targets $19, with HC looking higher at $30.

In addition to this JV between Amyris and ImmunityBio, the company also gained attention following news of a pending acquisition. This week, it announced terms to acquire the assets of MenoLabs, LLC. Unlike the JV, this deal focuses on a women-founded company to treat menopause symptoms, drive research for women’s health, and improve society’s understanding of menopause. The company said, “The acquisition of MenoLabs will serve as a catalyst to accelerate growth and establish a leadership position in the fast-growing menopause market.”

best penny stocks to buy now Amyris Inc. AMRS stock chart

Danimer Scientific (NYSE: DNMR)

A beaten-down plastics penny stock, Danimer Scientific, is surprisingly bouncing this week. That comes following last week’s continued downtrend to fresh 52-week lows. The company was flourishing early in 2021, even reaching over $60 in light of new deals.

These included opportunities to introduce new biodegradable plastics such as biodegradable straws (which ultimately became a sticking point for the market). Like most SPACs (Danimer combined with Live Oak Acquisition Corp.), the months to follow the acquisition have been tough for retail traders. But will 2022 mark a tipping point for this downtrodden class of public companies?

In looking at analysts following Danimer, they might say yes to that. Both Jefferies and Cowen have Buy and Outperform ratings on the company. Price targets are also within a range of $21-$30. After raising several hundred million dollars and recently appointing a new CFO, it will be interesting to see if Danimer can right the ship this year.

best penny stocks to buy now Danimer Scientific DNMR stock chart

Outlook Therapeutics Inc. (NASDAQ: OTLK)

Rounding out this list of penny stocks is Outlook Therapeutics. It isn’t as beaten down as some of the other names in the article. However, it has traded much lower over the last few months than where it began in 2021. However, this week, things have grown a bit more bullish even in the face of a stock market sell-off.

The biopharmaceutical company is developing an ophthalmic formulation of bevacizumab used in retinal indications, including its ONS-5010. A recent combination of the treatment paired with LYTENAVA is undergoing Phase 3 trials. The latest data presented in December showed the potential impact the combination can have on wet age-related macular degeneration.

“The results observed for ONS-5010 in the NORSE TWO trial are potentially of great significance for retinal specialists and their patients suffering from wet AMD…I look forward to having an additional approved treatment option for patients that is on-label and specifically formulated and packaged to meet the stringent demands for ophthalmic use.”

Dr. Francesco Bandello, FEBO, Professor and Chairman of the Department of Ophthalmology, University Vita-Salute, Ospedale San Raffaele, Milan

Analysts also appear to be optimistic about the company’s prospects. Both HC Wainwright and Ladenburg have Buys on the stock along with $6 price targets. The latest target from Ascendiant Capital, however, remains the highest. Along with a Buy on OTLK stock, the firm placed a $7 forecast, roughly 400% higher than current levels.

best penny stocks to buy now Outlook Therapeutics OTLK stock chart

Penny Stocks To Buy

Some final thoughts on penny stocks: do your research. Analyst ratings are great to have. But there’s no substitute for real-time research. In the case of these penny stocks, many are still early in their development, and speculation can play a much more significant role. Given that, it is never a bad idea to look beyond the “hype” and into specifics. Things like trials, pending mergers, etc., are essential to note.


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The post 4 Best Penny Stocks To Buy Now According To Top Wall Street Analysts appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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International

Beloved mall retailer files Chapter 7 bankruptcy, will liquidate

The struggling chain has given up the fight and will close hundreds of stores around the world.

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It has been a brutal period for several popular retailers. The fallout from the covid pandemic and a challenging economic environment have pushed numerous chains into bankruptcy with Tuesday Morning, Christmas Tree Shops, and Bed Bath & Beyond all moving from Chapter 11 to Chapter 7 bankruptcy liquidation.

In all three of those cases, the companies faced clear financial pressures that led to inventory problems and vendors demanding faster, or even upfront payment. That creates a sort of inevitability.

Related: Beloved retailer finds life after bankruptcy, new famous owner

When a retailer faces financial pressure it sets off a cycle where vendors become wary of selling them items. That leads to barren shelves and no ability for the chain to sell its way out of its financial problems. 

Once that happens bankruptcy generally becomes the only option. Sometimes that means a Chapter 11 filing which gives the company a chance to negotiate with its creditors. In some cases, deals can be worked out where vendors extend longer terms or even forgive some debts, and banks offer an extension of loan terms.

In other cases, new funding can be secured which assuages vendor concerns or the company might be taken over by its vendors. Sometimes, as was the case with David's Bridal, a new owner steps in, adds new money, and makes deals with creditors in order to give the company a new lease on life.

It's rare that a retailer moves directly into Chapter 7 bankruptcy and decides to liquidate without trying to find a new source of funding.

Mall traffic has varied depending upon the type of mall.

Image source: Getty Images

The Body Shop has bad news for customers  

The Body Shop has been in a very public fight for survival. Fears began when the company closed half of its locations in the United Kingdom. That was followed by a bankruptcy-style filing in Canada and an abrupt closure of its U.S. stores on March 4.

"The Canadian subsidiary of the global beauty and cosmetics brand announced it has started restructuring proceedings by filing a Notice of Intention (NOI) to Make a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada). In the same release, the company said that, as of March 1, 2024, The Body Shop US Limited has ceased operations," Chain Store Age reported.

A message on the company's U.S. website shared a simple message that does not appear to be the entire story.

"We're currently undergoing planned maintenance, but don't worry we're due to be back online soon."

That same message is still on the company's website, but a new filing makes it clear that the site is not down for maintenance, it's down for good.

The Body Shop files for Chapter 7 bankruptcy

While the future appeared bleak for The Body Shop, fans of the brand held out hope that a savior would step in. That's not going to be the case. 

The Body Shop filed for Chapter 7 bankruptcy in the United States.

"The US arm of the ethical cosmetics group has ceased trading at its 50 outlets. On Saturday (March 9), it filed for Chapter 7 insolvency, under which assets are sold off to clear debts, putting about 400 jobs at risk including those in a distribution center that still holds millions of dollars worth of stock," The Guardian reported.

After its closure in the United States, the survival of the brand remains very much in doubt. About half of the chain's stores in the United Kingdom remain open along with its Australian stores. 

The future of those stores remains very much in doubt and the chain has shared that it needs new funding in order for them to continue operating.

The Body Shop did not respond to a request for comment from TheStreet.   

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Government

Are Voters Recoiling Against Disorder?

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super…

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Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super Tuesday primaries have got it right. Barring cataclysmic changes, Donald Trump and Joe Biden will be the Republican and Democratic nominees for president in 2024.

(Left) President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library in Culver City, Calif., on Feb. 21, 2024. (Right) Republican presidential candidate and former U.S. President Donald Trump stands on stage during a campaign event at Big League Dreams Las Vegas in Las Vegas, Nev., on Jan. 27, 2024. (Mario Tama/Getty Images; David Becker/Getty Images)

With Nikki Haley’s withdrawal, there will be no more significantly contested primaries or caucuses—the earliest both parties’ races have been over since something like the current primary-dominated system was put in place in 1972.

The primary results have spotlighted some of both nominees’ weaknesses.

Donald Trump lost high-income, high-educated constituencies, including the entire metro area—aka the Swamp. Many but by no means all Haley votes there were cast by Biden Democrats. Mr. Trump can’t afford to lose too many of the others in target states like Pennsylvania and Michigan.

Majorities and large minorities of voters in overwhelmingly Latino counties in Texas’s Rio Grande Valley and some in Houston voted against Joe Biden, and even more against Senate nominee Rep. Colin Allred (D-Texas).

Returns from Hispanic precincts in New Hampshire and Massachusetts show the same thing. Mr. Biden can’t afford to lose too many Latino votes in target states like Arizona and Georgia.

When Mr. Trump rode down that escalator in 2015, commentators assumed he’d repel Latinos. Instead, Latino voters nationally, and especially the closest eyewitnesses of Biden’s open-border policy, have been trending heavily Republican.

High-income liberal Democrats may sport lawn signs proclaiming, “In this house, we believe ... no human is illegal.” The logical consequence of that belief is an open border. But modest-income folks in border counties know that flows of illegal immigrants result in disorder, disease, and crime.

There is plenty of impatience with increased disorder in election returns below the presidential level. Consider Los Angeles County, America’s largest county, with nearly 10 million people, more people than 40 of the 50 states. It voted 71 percent for Mr. Biden in 2020.

Current returns show county District Attorney George Gascon winning only 21 percent of the vote in the nonpartisan primary. He’ll apparently face Republican Nathan Hochman, a critic of his liberal policies, in November.

Gascon, elected after the May 2020 death of counterfeit-passing suspect George Floyd in Minneapolis, is one of many county prosecutors supported by billionaire George Soros. His policies include not charging juveniles as adults, not seeking higher penalties for gang membership or use of firearms, and bringing fewer misdemeanor cases.

The predictable result has been increased car thefts, burglaries, and personal robberies. Some 120 assistant district attorneys have left the office, and there’s a backlog of 10,000 unprosecuted cases.

More than a dozen other Soros-backed and similarly liberal prosecutors have faced strong opposition or have left office.

St. Louis prosecutor Kim Gardner resigned last May amid lawsuits seeking her removal, Milwaukee’s John Chisholm retired in January, and Baltimore’s Marilyn Mosby was defeated in July 2022 and convicted of perjury in September 2023. Last November, Loudoun County, Virginia, voters (62 percent Biden) ousted liberal Buta Biberaj, who declined to prosecute a transgender student for assault, and in June 2022 voters in San Francisco (85 percent Biden) recalled famed radical Chesa Boudin.

Similarly, this Tuesday, voters in San Francisco passed ballot measures strengthening police powers and requiring treatment of drug-addicted welfare recipients.

In retrospect, it appears the Floyd video, appearing after three months of COVID-19 confinement, sparked a frenzied, even crazed reaction, especially among the highly educated and articulate. One fatal incident was seen as proof that America’s “systemic racism” was worse than ever and that police forces should be defunded and perhaps abolished.

2020 was “the year America went crazy,” I wrote in January 2021, a year in which police funding was actually cut by Democrats in New York, Los Angeles, San Francisco, Seattle, and Denver. A year in which young New York Times (NYT) staffers claimed they were endangered by the publication of Sen. Tom Cotton’s (R-Ark.) opinion article advocating calling in military forces if necessary to stop rioting, as had been done in Detroit in 1967 and Los Angeles in 1992. A craven NYT publisher even fired the editorial page editor for running the article.

Evidence of visible and tangible discontent with increasing violence and its consequences—barren and locked shelves in Manhattan chain drugstores, skyrocketing carjackings in Washington, D.C.—is as unmistakable in polls and election results as it is in daily life in large metropolitan areas. Maybe 2024 will turn out to be the year even liberal America stopped acting crazy.

Chaos and disorder work against incumbents, as they did in 1968 when Democrats saw their party’s popular vote fall from 61 percent to 43 percent.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 03/09/2024 - 23:20

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Government

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The…

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Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Department of Veterans Affairs (VA) reviewed no data when deciding in 2023 to keep its COVID-19 vaccine mandate in place.

Doses of a COVID-19 vaccine in Washington in a file image. (Jacquelyn Martin/Pool/AFP via Getty Images)

VA Secretary Denis McDonough said on May 1, 2023, that the end of many other federal mandates “will not impact current policies at the Department of Veterans Affairs.”

He said the mandate was remaining for VA health care personnel “to ensure the safety of veterans and our colleagues.”

Mr. McDonough did not cite any studies or other data. A VA spokesperson declined to provide any data that was reviewed when deciding not to rescind the mandate. The Epoch Times submitted a Freedom of Information Act for “all documents outlining which data was relied upon when establishing the mandate when deciding to keep the mandate in place.”

The agency searched for such data and did not find any.

The VA does not even attempt to justify its policies with science, because it can’t,” Leslie Manookian, president and founder of the Health Freedom Defense Fund, told The Epoch Times.

“The VA just trusts that the process and cost of challenging its unfounded policies is so onerous, most people are dissuaded from even trying,” she added.

The VA’s mandate remains in place to this day.

The VA’s website claims that vaccines “help protect you from getting severe illness” and “offer good protection against most COVID-19 variants,” pointing in part to observational data from the U.S. Centers for Disease Control and Prevention (CDC) that estimate the vaccines provide poor protection against symptomatic infection and transient shielding against hospitalization.

There have also been increasing concerns among outside scientists about confirmed side effects like heart inflammation—the VA hid a safety signal it detected for the inflammation—and possible side effects such as tinnitus, which shift the benefit-risk calculus.

President Joe Biden imposed a slate of COVID-19 vaccine mandates in 2021. The VA was the first federal agency to implement a mandate.

President Biden rescinded the mandates in May 2023, citing a drop in COVID-19 cases and hospitalizations. His administration maintains the choice to require vaccines was the right one and saved lives.

“Our administration’s vaccination requirements helped ensure the safety of workers in critical workforces including those in the healthcare and education sectors, protecting themselves and the populations they serve, and strengthening their ability to provide services without disruptions to operations,” the White House said.

Some experts said requiring vaccination meant many younger people were forced to get a vaccine despite the risks potentially outweighing the benefits, leaving fewer doses for older adults.

By mandating the vaccines to younger people and those with natural immunity from having had COVID, older people in the U.S. and other countries did not have access to them, and many people might have died because of that,” Martin Kulldorff, a professor of medicine on leave from Harvard Medical School, told The Epoch Times previously.

The VA was one of just a handful of agencies to keep its mandate in place following the removal of many federal mandates.

“At this time, the vaccine requirement will remain in effect for VA health care personnel, including VA psychologists, pharmacists, social workers, nursing assistants, physical therapists, respiratory therapists, peer specialists, medical support assistants, engineers, housekeepers, and other clinical, administrative, and infrastructure support employees,” Mr. McDonough wrote to VA employees at the time.

This also includes VA volunteers and contractors. Effectively, this means that any Veterans Health Administration (VHA) employee, volunteer, or contractor who works in VHA facilities, visits VHA facilities, or provides direct care to those we serve will still be subject to the vaccine requirement at this time,” he said. “We continue to monitor and discuss this requirement, and we will provide more information about the vaccination requirements for VA health care employees soon. As always, we will process requests for vaccination exceptions in accordance with applicable laws, regulations, and policies.”

The version of the shots cleared in the fall of 2022, and available through the fall of 2023, did not have any clinical trial data supporting them.

A new version was approved in the fall of 2023 because there were indications that the shots not only offered temporary protection but also that the level of protection was lower than what was observed during earlier stages of the pandemic.

Ms. Manookian, whose group has challenged several of the federal mandates, said that the mandate “illustrates the dangers of the administrative state and how these federal agencies have become a law unto themselves.”

Tyler Durden Sat, 03/09/2024 - 22:10

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