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7 Penny Stocks To Buy According To Analysts With Targets Up To 316%

Analysts say these are penny stocks to buy. Do you agree?
The post 7 Penny Stocks To Buy According To Analysts With Targets Up To 316% appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Should you buy penny stocks today? If you like volatility, quick gains, handle high-risk situations and understand trading basics, I say, why not? But the stock market today isn’t like it was even just a year ago. The fact is, millions of new traders have flooded into the markets since the pandemic. The goal is making money without a 9 to 5, and so far, many are finding real opportunities to profit.

Over the last few days alone, we’ve seen seriously bullish action in the stock market. Today former penny stock ImmunoPrecise (NASDAQ:IPA) was the latest to grab attention from retail traders. On Monday (7/19), IPA stock was traded around $5 with a volume of fewer than 60,000 shares. Fast-forward to today (7/22), and IPA stock reached highs of $16.47 before the afternoon session got into full swing, with more than 60 million shares traded.

[Read More] 3 Biotech Penny Stocks To Watch Seeing Explosive Gains In 2021

This wasn’t an outlier either. Other stocks this week like Chembio Diagnostics, Inc. (NASDAQ:CEMI) and NeuroMetrix Inc. (NASDAQ:NURO) made parabolic moves as well. CEMI stock jumped from lows of $2.20 to highs of $6.95, while NURO stock jumped from around $3 on Monday to over $40 today.

Should You Buy Penny Stocks?

Let’s get something straight; all penny stocks don’t make these types of moves. Many end up failing. But as I said earlier, if you know how to trade penny stocks, this volatility is something you seek daily. Retail traders aren’t the only ones looking for opportunities in the stock market. Today, we’ll look at a few names that Wall Street firms are actually following and giving price targets upwards of 316% right now. Will they end up on your list of penny stocks to buy right now or avoid entirely?

*Note: This is a Continuation Of Our Article “Best Penny Stocks To Buy Now? Analysts See 85%-288% Upside In 3.”

Penny Stocks To Buy [or avoid] According To Analysts

  1. Performant Financial Corporation (NASDAQ:PFMT)
  2. Kadmon Holdings Inc. (NASDAQ:KDMN)
  3. Seelos Therapeutics Inc. (NASDAQ:SEEL)
  4. 9 Meters Biopharma Inc. (NASDAQ:NMTR)

Penny Stocks To Buy [according to Craig Hallum]: Performant Financial Corporation (NASDAQ:PFMT)

Earlier this month, analysts at Craig Hallum initiated coverage on Performant Financial Corporation. The firm started PFMT stock with a Buy rating and a $10 price target. Based on the current price, that’s an implied upside of roughly 114%. Obviously, time will tell if this comes to fruition, but what are some things to look at right now?

Performant aids clients in the government and commercial sectors, helping them find ways to expand revenue models and streamline spending. Craig Hallum analyst George Sutton pointed out that “With a conservative near-term potential revenue opportunity of $700-960M and expectations for legacy revenue to be completely out of the picture starting in FY22, we believe investors should get involved before the market picks up on the opportunity…PFMT has built a massive data set covering >200M lives and invested in developing sophisticated AI to identify inaccuracies. These investments result in higher cost savings for clients, better quality scores, and better margins for PFMT.”

Echoing this bullishness is the PFMT stock chart. Year-to-date, this penny stock has quietly climbed from $0.88 to over $4.60 this week. Financial technology – Fintech – has received its fair share of attention thanks to the pandemic and things like cryptocurrencies gaining mainstream attention. One thing to focus on is the company’s exposure to opportunities in healthcare. In its last few earnings updates, management has stood behind its 2021 target range for healthcare revenue of $83 – $90 million and positive EBITDA.

Penny Stocks To Buy [according to Oppenheimer]: Kadmon Holdings Inc. (NASDAQ:KDMN)

Since we last covered Kadmon, shares have remained range-bound. KDMN stock typically trades between $4.22 and $3.50, with its 200-day moving average acting as a consistent level of resistance over the last few months. However, this week was the few times that shares broke above this upper 200-day moving average resistance level.

The initial catalyst for the recent trading action came after Kadmon announced that the FDA granted full approval of its REZUROCK treatment for Chronic graft-versus-host disease. Now we look to August as the next important time for Kadmon. This is when the company expects REZUROCK to be available in the US.

[Read More] Highest Volume Penny Stocks to Watch Today? Check These 4 Out

This wasn’t the only thing helping give KDMN stock a boost, either. Earlier this month, analysts at Oppenheimer gave an update to their current rating. The firm has an Outperform but upped its price target from $8 to $9 following the latest FDA news. That puts an implied upside of 117% based on current trading levels.

Analyst Mark Breidenbach explained, “We discussed Rezurock’s label and pricing with management, and we believe Kadmon is fully prepared to begin promoting Rezurock despite the early approval—thanks in part to a PDUFA date extension earlier this year…We expect Rezurock could take ≥three months to be added to payer formularies and will take time to gain market share relative to ruxolitinib, which is already widely used off-label in cGVHD.”

penny stocks to buy Kadmon Holdings KDMN stock chart

Penny Stocks To Buy [according to Guggenheim]: Seelos Therapeutics Inc. (NASDAQ:SEEL)

Seelos has long been on our lists of penny stocks to watch throughout the year. The company is part of the growing list of psychedelic stocks to watch. It’s also one of the larger holdings in the first psychedelic ETF, Horizon’s Psychedelic Stock Index ETF (PSYK). It currently has 5.71% weighting in the ETF (as of July 16th).

Thanks to its progress in its racemic ketamine trials, retail traders have taken notice. An update a few weeks ago revealed more details from its current ketamine study for acute suicidal patients. The company explained that part 2 of the study would be the basis for a registration trial for its SLS-002 racemic ketamine program. CEO Raj Mehra went as far as saying that SLS-002 has the potential for rapid onset and “aims to show a benefit as quickly as overnight.”

Wall Street analysts may also see potential in this company as well. Guggenheim was the latest firm to jump on the bullish bandwagon this month. Analyst Yatin Suneja started coverage with a Buy rating and $8 target, implying an upside of over 220% from current trading levels. Suneja explained that “The current data suggest that treatment effects with SLS-002 are rapid, robust and durable,” and if approved, “$450M in peak U.S. sales with additional upside in other indications.”

penny stocks to buy Seelos Therapeutics SEEL stock chart

Penny Stocks To Buy [according to BMO Capital]: 9 Meters Biopharma Inc. (NASDAQ:NMTR)

Earlier this month, BMO Capital initiated coverage on 9 Meters Biopharma. Analyst Gary Nachman started NMTR stock with an Outperform rating and a price target of $5.00. Based on the current trading levels, that would imply a potential upside of 316%. 9 Meters focuses on developing treatments for gastroenterology. It recently acquired the global development rights to a humanized monoclonal antibody, LOB-0136, from Lobesity LLC. LOB-0136, now NM-136, aims to treat patients with Prader-Willi Syndrome.

“Continuing to advance NM-136 will be a very important step forward for patients currently living with PWS and suffering from this life-threatening disease,” said John Temperato, President and Chief Executive Officer of 9 Meters. “This meaningful therapeutic complements and broadens our pipeline of digestive disease assets, while providing us strategic options within our expanded portfolio.”

Aside from this, progress with its Vurolenatide short bowel syndrome candidate is grabbing interest. The company just began its Phase 2 VIBRANT Study on the treatment in June. Nachman also made mention of it in his commentary in tandem with his rating.

[Read More] 4 Best Penny Stocks To Buy As Musk Recharges Dogecoin & Ethereum?

“Vurolenatide offers unique mechanism for short bowel syndrome with promising earlydata and good visibility on Ph2/Ph3, and larazotide could be first approved treatmentfor celiac disease with Ph3 ongoing. Physicians are excited about having both productsavailable given lack of treatments. We conservatively forecast ~$700mm revenue in2030 with just modest penetration. Key catalysts over next 6-18 months should help unlock value.”

penny stocks to buy 9 Meters Biopharma Inc. NMTR stock chart

Are Analysts Right About These Penny Stocks?

It’s ok to question analysts and their recommendations. Sometimes they are outdated or don’t quite align with the current market sentiment. This list of penny stocks is made up of companies with very recent analyst ratings and, with that, could have a bit more relevance in the stock market today. But the ultimate decision to buy them or avoid them is up to you.

You can read about the rest of the 7 penny stocks to buy according to analysts: Best Penny Stocks To Buy Now? Analysts See 85%-288% Upside In 3

The post 7 Penny Stocks To Buy According To Analysts With Targets Up To 316% 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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