Whether you buy penny stocks because of analysts or simply use ratings in your overall strategy, it helps to get a full lay of the land. What I mean by this is that most retail traders will look at a few facets of certain companies. They’ll look at just enough to make a short-term thesis on whether or not it’s a good idea to buy penny stocks in certain circumstances.
One of the most important things to remember about analysts is that they tend to take a longer-term approach to certain penny stocks. While this isn’t a bad thing, it should be kept in the back of your head. Furthermore, depending on the company some analyst ratings can be months or even years old.
Since they were the “most recent,” they’ll likely still show up on most financial sites as the “current rating”. Needless to say, it isn’t a bad idea to research what analysts have to say about certain companies. If anything, it can point you in the right direction of finding the info you might not have thought of yet. Do all penny stocks have analysts covering them, no.
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But of the ones that do, also pay attention to which firms are on board. Do they have a track record of following successful companies? Are they a newer firm? What goes into their ratings? These are all good questions to find answers for if you are going to include their analysis in your own research. With this in mind, do you think these are penny stocks to buy right now considering the current analyst ratings?Penny Stocks To Buy [according to analysts]: Axovant Gene Therapies
Axovant Gene Therapies Ltd. (AXGT Stock Report) has been in a solid uptrend since the start of September. In fact, since the 1st, AXGT stock has climbed from around $2.90 to highs this week of $3.67. The company is a clinical-stage company developing gene therapies for neurological diseases. One of the things you might notice by looking at the AXGT stock chart is the trend in 2020 has been relatively flat. That doesn’t mean there haven’t been opportunities for traders, however. The penny stock’s range has been between $2.65 and $3.65 for the most part.
Something else you’ll notice is that AXGT has become much more active during the third quarter. Average daily volume has dramatically increased in comparison to earlier this year. At the end of July, the company signed a 3 year clincal supply agreement with Oxford Biomedica to manufacture and supply AXO-Lenti-PD. This a gene therapy for treating Parkinson’s Disease based on Oxford Biomedica’s LentiVector® platform. The company completed enrollment of the second dose cohort with the enrollment of four patients. Axovant is on-track to deliver 6-month safety and efficacy data next quarter.
This week the company announced another strategic development with Viralgen. Axovant will have access to manufacturing resources for its AAV-based gene therapy programs, AXO-AAV-GM1 for GM1 gangliosidosis and AXO-AAV-GM2 for GM2 gangliosidosis. This will be capacity to support ongoing development and eventual commercialization according to the company.
“This approach is crucial as we continue to advance our AAV programs where data from the ongoing Phase 1/2 clinical study of AXO-AAV-GM1 is expected in Q4 2020 and we anticipate IND clearance of the AXO-AAV-GM2 IND application before year end.”Gavin Corcoran , M.D., Chief R&D Officer of AxovantAXGT Stock Forecast
What do analysts think about Axovant? Well looking at the AXGT stock forecast, the majority give a Buy rating. This quarter, Guggenheim, SVB Leerink, Cantor Fitzgerald, and Chardan Capital all reiterated their ratings on the stock. However, Guggenheim revised its “Buy” to “Market Perform”. Furthermore, the firms gave price targets ranging from $11 to $23. Do you agree with these ratings? Comment below.Penny Stocks To Hold [according to analysts]: Antero Resources Corporation
Antero Resources Corporation (AR Stock Report) is an independent oil and natural gas company. From acquisition to production, the company focuses on the US oil and gas industry. Year-to-date, Antero stock is relatively flat however that doesn’t tell the full story.
During the last 9 months, AR stock has managed to bounce back from lows of $0.64 back to highs of $4.64. However, the recent trend has been a big bearish in light of the downturn for oil and gas stocks. On top of that, Antero also announced a $250 million senior note offering in mid-August.
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Even in light of that, the last few sessions were much more bullish for the oil and gas penny stock. Since Friday, AR stock has bounced back from lows of $2.63 to highs this week of $2.95 so far. While there hasn’t been much from the company recently, analysts have certainly become more active.AR Stock Forecast
What do analysts think about Antero? Looking at the latest AR stock forecast, analysts appear bullish on the penny stock. Both Northland Securities and MKM Partners gave ratings on AR this month. Respectively, they rate Antero with a Market Perform and Buy. These ratings also came with $5.80 and $4 price targets.
Furthermore, TD Securities, Morgan Stanely, and BMO Capital have varying ratings on Antero but all upped their price targets within the last month. Accounting for all ratings, AR’s average is Hold right now. Comment below if you agree or disagree with this.Penny Stocks To Buy [according to analysts]: Marinus Pharmaceuticals Inc.
Marinus Pharmaceuticals Inc. (MRNS Stock Report) is one of the penny stocks we talked about late in the day on Monday. We simply asked, “Should Your List Of Penny Stocks Include These 3 Names?” So far, that list has seen an explosive breakout on Tuesday. MRNS stock is no exception either.
Shares jumped after the company announced that its ganaxolone achieved its primary endpoint in a Phase 3 Trial for CDKL5 deficiency disorder. Its New Drug Application submission is planned for the middle of next year.
Marinus also said preparations had begun for an expanded access program in CDD that would allow the company, on positive data, to offer ganaxolone to patients who were unable to participate in the Phase 3 trial. This also triggered a slew of new analyst actions on Tuesday.MRNS Stock Forecast
What do analysts think about Marinus? The latest MRNS stock forecast shows analysts are bullish overall. On Tuesday alone, Jefferies, Cantor Fitzgerald, H.C. Wainwright, SVB Leerink, and Oppenheimer all gave bullish ratings on MRNS stock. All but H.C. Wainwright boosted their price targets as well. The new range for Marinus is now between $6 and $9 among those analysts.Penny Stocks To Hold [according to analysts]: Sunesis Pharmaceuticals
Sunesis Pharmaceuticals (SNSS Stock Report) rounds out this list of penny stocks. While not all penny stocks on this list will end up moving higher, SNSS stock has been quietly trending ever since effecting its reverse split earlier this month. No new updates have come out since then. However, there are some dates to note. These involve the company’s conference schedule in September. Sunesis already presented at the Wells Fargo Healthcare Conference on the 10th. Next up will be the Oppenheimer Healthcare Life Sciences & MedTech Summit on the 21st.
We discussed SNSS stock earlier this week as well. Over the last two days, shares have run up from around $1.20 to highs on Tuesday of $1.58. Is this a lead up to next week’s presentation? We’ll have to see. Sunesis’ SNS-510 PDK1 inhibitor has been the biggest focus for the company lately.
It licensed it from Millennium Pharmaceuticals, Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited. Takeda is the largest pharmaceutical company in Asia and one of the top 20 largest pharmaceutical companies in the world by revenue. According to Sunesis, it expects to file an Investigational New Drug application by year-end.SNSS Stock Forecast
What do analysts think about Sunesis? Based on the current SNSS stock forecast, analysts are relatively cautious overall. The most recent rating comes from Oppenheimer. The firm reiterated a Hold rating back in August. Prior to that, H.C. Wainwright had its rating set at Neutral and also gave a $5 target for SNSS stock.