If you’re looking for penny stocks to buy right now, I’m sure you’ve looked at some of the hot trends in the stock market today. We’ve discussed plenty of them in November too. Whether it’s the latest round of short squeeze penny stocks, meme stocks, popular penny stocks on Webull, or the latest metaverse stocks, there’s no shortage of themes. However, don’t forget some of the fundamentals. There’s something to be said about companies that may not be “trendy” but have business models highly valued by investors and analysts.
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Though things like analyst ratings aren’t the only thing to use for research, they can help give some deeper insight into how Wall Street feels about specific companies. This brings us to today’s list of penny stocks: those with bullish ratings and price targets. The last few months have seen market analysts focus on more than just the top stocks like Tesla (NASDAQ:TSLA) or Amazon (NASDAQ:AMZN). Many are following some of the smaller companies, and yes, that includes penny stocks.
5 Penny Stocks To Buy [According To Analysts]
- Matinas Biopharma Holdings Inc.(NYSE:MTNB)
- Xeris Biopharma Holdings Inc.(NASDAQ:XERS)
- Phunware Inc.(NASDAQ:SPRAY)
- Verb Technology Company Inc.(NASDAQ:VERB)
- Progenity Inc.(NASDAQ:PROG)
Penny Stocks To Buy [According To HC Wainwright]:
1. Matinas Biopharma Holdings Inc.(NYSE:MTNB)
Matinas has enjoyed a solid end of the year so far. In early September, shares of MTNB stock traded around 80 cents. Since then, the penny stock has jumped above the $1 mark. Matinas focuses on therapeutic delivery methods. In particular, its intracellular delivery method is in development for critical therapeutic delivery using its lipid nanocrystal platform. Early data have already shown this to provide solutions to complex hurdles that’ve been encountered with current methods. Its MAT2501 candidate, for example, dosed its first patient in a Phase 1 trial with complete enrollment anticipated in the second quarter of 2022.
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Recent MTNB Stock News
It’s earnings season, and in line with that, Matinas’ recent news came in the form of a quarterly update. The company highlighted several key advancements, including new board additions and favorable safety and efficacy data in its EnACT study of its MAT2203 platform in treating cryptococcal meningitis. DSMB evaluation and cohort
progression assessment are expected by the end of 2021. Matinas also said that it plans to meet with the FDA next month to review data and discuss the potential for approval of MAT2203.
MTNB Stock Forecast
HC Wainwright analysts are bullish on MTNB stock based on their most recent rating. The firm has a Buy on the penny stock along with a price target of $3. Based on November 15’s closing price of $1.17, that target is 156% higher right now.
2. Xeris Biopharma Holdings Inc.(NASDAQ:XERS)
Shares of Xeris Biopharma have been climbing for the last few sessions. Thanks to a surge of interest in stocks with insider buying, XERS has gained some added interest. The company specializes in treatment development in endocrinology, neurology, and gastroenterology. Its recent collaboration with Merck has put a focus on the company’s XeriJect platform for use with monoclonal antibodies to engineer ready-to-use formulations. This is also just one of several platforms in Xeris’ portfolio. The company also has Gvoke (liquid glucagon for treating hypoglycemia), Keveyis (FDA approved for periodic paralysis), and XeriSol for formulation technology.
Recent XERS Stock News
This month Xeris reported its latest round of quarterly results. The company missed EPS estimates by 2 cents per share but beat sales estimates. Paul R. Edick, Chairman, and CEO of Xeris Biopharma, explained, “Since the closing of the Strongbridge acquisition in early October, we have completed integration of the operations. We are operating as one company and are on track to realize $50 million in synergies, while at the same time intensely preparing for the potential commercial launch of Recorlev. We are in a strong cash position to drive continued growth of Gvoke and Keveyis, prepare for and launch Recorlev in Q1 2022 if approved, and continue to advance our pipeline products.”
XERS Stock Forecast
Analysts at HC Wainwright have given XERS stock a buy rating along with a $4 price target. Compared to Monday’s closing price of $2.48, this is 101% higher right now.
3. Phunware Inc.(NASDAQ:PHUN)
Phunware Inc. has been in and out of the spotlight ever since the debut of former President Trump’s social media SPAC deal. Digital World Acquisition Corp. (NASDAQ:DWAC) is slated to become the new home for Donald Trump’s new social media platform, Truth Social. What does Phunware have to do with it?
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Earlier this quarter, any company with some relationship to the former President or Digital World Acquisition or the Trump family caught a surge of sympathy momentum. In Phunware’s case, it was its involvement with an app during the Trump campaign. Shares surged from around $1 to highs of more than $24. Things have settled back down quickly, but it doesn’t mean the market has forgotten about PHUN stock.
Recent PHUN Stock News
This week Phunware reported its latest round of earnings. The company beat Wall Street estimates on earnings per share, reporting a gain of $0.01 vs. an expected loss per share of $0.04. However, Phunware was unable to impress when it came to sales figures. Regardless, the company has been in the spotlight for more than just its exposure to the Trump name. Bitcoin and cryptocurrency have played a more significant role as well. In its earnings update, Phunware explained that it currently holds roughly 129 Bitcoin and that new acquisitions, including Lyte Technology, can add immediate profitability helping with Phunware’s current blockchain initiatives.
“Rolling forward, we are committed to not only growing our digital currency holdings in the future, but we also expect to add Decentralized Finance (DeFi) to our corporate treasury activities.”
Matt Aune, CFO of Phunware
PHUN Stock Forecast
The recent rating from HC Wainwright sets the stage for Phunware’s stock forecast. The firm has a Buy rating and just boosted its $2 price target to $5. Based on PHUN’s closing price on November 16, that target is roughly 37% higher right now.
Penny Stocks To Buy [According To Alliance Global]
4. Verb Technology Company Inc.(NASDAQ:VERB)
Verb Technology continues climbing after testing its 200-day moving average about a week ago. Shares of VERB stock bounced from lows of $1.78 to highs of over $2 this week. The tech company has gained some attention thanks to new advancements made with its Software-as-a-Service platforms. This includes everything from video-based sales applications, shippable videos, customer relationship management platforms, and marketing applications.
Recent VERB Stock News
This week Verb released its third-quarter earnings results. Thanks, in part, to continued progress in gaining new SaaS contracts and recurring revenues, Verb realized significant growth both quarter over quarter and year over year. Combined revenues were up more than 20% compared to Q2, 2021, and total digital revenues jumped 30% over the same period. With the latest launch of a new sports vertical and partnership with the Pittsburgh Penguins, the company anticipates driving ticket sales and fan engagement to build this new arm even further.
VERB Stock Forecast
Alliance Global Has set its sights high when it comes to Verb. The firm has a Buy rating and set a price target at $4; 101% higher than Monday’s closing price.
Penny Stocks To Buy [Acording To Piper Sandler]
5. Progenity Inc.(NASDAQ:PROG)
Progenity has been on our list of penny stocks to watch for months at this point. The most significant factor that traders have focused on is PROG stock’s short interest. You only need to look as far as our Monday article and the update on Progenity (See: Best Penny Stocks To Buy? 5 Short Squeeze Stocks To Watch Now). Fintel showed that PROG stock has a short float percentage of 26.37%. By most accounts, this is a higher than average short interest, and it seems like the market has noticed.
Recent PROG Stock News
Besides news that Progenity participates in Piper Sandler’s Virtual Healthcare Conference next week, earnings are the latest focus. The company announced worse than expected earnings earlier this month. However, that hasn’t put a pause to the massive move that PROG stock has seen.
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One of the key highlights from the company’s overview included how Progenity is transforming into a more streamlined company. This consists of a new CEO, Adi Mohanty, who was appointed earlier this month. It also includes additional board appointments and some fundamental changes in its debt structure to the tune of a $20.175 million reduction.
PROG Stock Forecast
Unlike other companies on this list of penny stocks, PROG has quickly approached analyst estimates. If you look at Piper Sandler’s most recent rating, the firm has Progenity at Overweight along with a $5 target. Based on Monday’s closing price, the target sits “only” 44% higher right now.
Penny Stocks To Buy Or Avoid
Keep in mind that analyst estimates are only one piece of the puzzle to account for when researching companies. When looking for penny stocks to buy, studying charts and news and digging into some rumors can even help paint a more colorful picture. Make sure to have a complete understanding of the companies on your list and why they may be moving to make an informed decision whether to buy or avoid them in the end.