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10 Penny Stocks with > 1,000% Upside
Stock Analysis & Ideas

10 Penny Stocks with > 1,000% Upside

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While penny stocks are highly speculative and risky investments, some of these stocks are associated with small companies and have promising growth prospects. Let us look at ten attractive penny stocks using TipRanks’ Penny Stock Screener tool.

Rising interest rates, sky-high inflation, and geopolitical concerns have dragged down the S&P 500 (SPX) and NASDAQ Composite (NDX) into bear market territory. While all this sounds rather doom and gloom, one should also realize that several stocks have plunged way below their 52-week highs, especially with growth stocks, and this might be the time to pick the good ones at attractive bargains.

Amid the current situation, investors can consider some penny stocks which can multiply their investments. Penny stocks are generally defined as stocks trading at a price of less than $5. Penny stocks are often associated with small, young companies that have promising growth prospects. However, they can also be stocks of companies which are trading at depressed prices due to their weak fundamentals.   

While even a small price gain in a penny stock can translate to a massive return in terms of percentage, investors should be aware of the high level of speculation and significant risk involved with penny stock investing.

To help investors pick attractive penny stocks out there, TipRanks provides a Penny Stock Screener tool, which enables us to filter penny stocks based on several criteria, including upside potential in the stock, analysts’ consensus rating, market cap, and sector classification.  

In this article, we’ll use TipRanks’ Penny Stock Screener tool to list stocks with a Strong Buy or Moderate Buy consensus rating, and upside potential of greater than 1000% based on Wall Street analysts’ average price target.

Applied Molecular Transport (NASDAQ: AMTI)

Applied Molecular is developing novel oral biologic therapeutics to treat autoimmune, inflammatory, metabolic, and other diseases.

Based on four unanimous Buys, the Street has a Strong Buy consensus rating on Applied Molecular stock. The average Applied Molecular price target of $48.33 implies 1578.12% upside potential from current levels.

MacroGenics (NASDAQ: MGNX)

MacroGenics is a biopharmaceutical company developing monoclonal antibody-based therapeutics for the treatment of cancer.

The Street has a Strong Buy consensus rating on MacroGenics stock based on six Buys and one Hold rating. The average MacroGenics price target of $32.20 suggests 1273.13% upside potential from current levels.

Angion Biomedica (NASDAQ: ANGN)

Angion is a clinical-stage biopharma company that is developing novel small molecule therapeutics to address fibrotic diseases and acute organ injuries.

The Street has a Moderate Buy consensus rating on Angion stock based on one recent analyst review. The average Angion price target of $28 suggests 1754.30% upside potential from current levels.

eFFECTOR Therapeutics (NASDAQ: EFTR)

eFFECTOR  is pioneering a new class of cancer therapies known as selective translational regulator inhibitors (STRIs), which are designed to block the production of many cancer-driving proteins.

On TipRanks, eFFECTOR Therapeutics earns a Strong Buy consensus rating backed by four Buys and one Hold recommendation. The average eFFECTOR price target of $26 implies 1668.71% upside potential in the 12 months ahead.

Checkpoint Therapeutics (NASDAQ: CKPT)

Checkpoint Therapeutics is a U.S. based biopharma company, developing cancer immunotherapy and targeted oncology treatments.

On TipRanks, Checkpoint is assigned a Strong Buy consensus rating based on three unanimous Buys. The average Checkpoint price target of $18.33 implies 1581.65% upside potential from current levels. 

Alzamend Neuro (NASDAQ: ALZN)

This clinical-stage biotech is developing novel treatments to address neurodegenerative diseases and psychiatric disorders, including Alzheimer’s.

The Street has a Moderate Buy consensus rating on Alzamend stock based on one recent Buy rating. At $15, the average Alzamend price target implies 1656.44% upside potential from current levels. 

GlycoMimetics (NASDAQ: GLYC)

GlycoMimetics is a clinical-stage biotechnology company focused on glycobiology-based therapies for treating cancer. The company’s Uproleselan drug candidate for people with acute myeloid leukemia has been granted the U.S. Food and Drug Administration’s (FDA) Breakthrough Therapy designation.

The stock scores a Strong Buy consensus rating based on three unanimous Buys. At $14.50, the average GlycoMimetics price target implies 2466.37% upside potential from current levels.

Phasebio Pharmaceuticals (NASDAQ: PHAS)

This clinical-stage bio-pharma company is focused on the development and commercialization of novel therapies for cardiovascular diseases.  

Based on two recent bullish reviews, the Street is cautiously optimistic on Phasebio stock, with a Moderate Buy consensus rating. The average Phasebio price target of $14 implies 2225.20% upside potential from current levels. 

Freeline Therapeutics (NASDAQ: FRLN)

Freeline is a clinical-stage biotech that is developing transformative adeno-associated virus or AAV vector-mediated systemic gene therapies.

Freeline scores a Strong Buy consensus rating based on three unanimous Buys. At $13.13, the average Freeline price target implies 1524.42% upside potential from current levels.  

Ocuphire Pharma (NASDAQ: OCUP)

Ocuphire Pharma is a clinical-stage biopharma company focused on developing therapies for the treatment of refractive and retinal eye disorders.

The Street is cautiously optimistic on Ocuphire Pharma based on two recent Buy ratings. Ocuphire’s average price target of $25.50 implies 1267.29% upside potential in the 12 months ahead.

Conclusion

While penny stocks could offer exponential returns, investors should be aware of their speculative nature and high risks associated with these investments, as they are known for sometimes even wiping off the entire capital invested. Investors should do a thorough analysis and due diligence before investing in penny stocks.

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