Let's talk penny stocks. We've all played with them at one time or another, buying shares of a company trading at $1.00 or less because the stock was cheap.
Maybe you read online that a penny stock's price was likely to skyrocket because some big piece of news is going to be announced soon. Maybe your golfing buddy told you to checkout a penny stock and get in before it's too late.
Sometimes penny stock trades work out great and you can book a quick win, but often times the share price stays flat (or even goes down) and the whole trade was a giant waste of time and money.
Trading penny stocks can often feel like gambling, because you're putting up a small amount of money hoping for a big win. You can also lose all your money when you make the wrong bet.
But what if you could take the guess work out of trading penny stocks? Well, there might be a way to do that. We've gathered analyst research reports from every Wall Street firm on every public company whose shares are trading for under $1.00. There are literally thousands of these reports.
Our team sifted through them and found the ten penny stocks that Wall Street's top analysts are nearly universally bullish about. They believe these companies will have incredible upside in the next twelve months.
#1 - New York Community Bancorp (NYSE:NYCB)
- Upgrades from Top-Ranked Analysts
- 7 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.1
- Ratings Breakdown
- 2 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $17.48
About New York Community Bancorp
New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.
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Recent Analyst Ratings
#2 - CytomX Therapeutics (NASDAQ:CTMX)
- Upgrades from Top-Ranked Analysts
- 5 (in the last 90 days)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.5
- Ratings Breakdown
- 3 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $5.77 (563.4% Upside)
About CytomX Therapeutics
CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.
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Recent Analyst Ratings
#3 - Allurion Technologies (NYSE:ALUR)
- Upgrades from Top-Ranked Analysts
- 5 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2.88 (534.9% Upside)
About Allurion Technologies
Allurion Technologies Inc focuses on ending obesity with a weight loss platform to treat people who are overweight. Its platform, the Allurion Program, features swallowable and procedure-less intragastric balloon for weight loss (the Allurion Balloon), as well as offers access to AI-powered remote patient monitoring tools, a proprietary behavior change program, secure messaging, and video telehealth that are delivered by the Allurion Virtual Care Suite.
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Recent Analyst Ratings
#4 - Dragonfly Energy (NASDAQ:DFLI)
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.74 (338.3% Upside)
About Dragonfly Energy
Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.3
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.52 (878.6% Upside)
About Invivyd
Invivyd, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company developed INVYMAB, a platform that combines viral surveillance and predictive modeling with advanced antibody engineering.
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Recent Analyst Ratings
#6 - Outset Medical (NASDAQ:OM)
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.6
- Ratings Breakdown
- 3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $4.70 (547.7% Upside)
About Outset Medical
Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.8
- Ratings Breakdown
- 3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.27 (90.4% Upside)
About Oatly Group
Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Europe, the Middle East, Africa, the Americas, and Asia. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; cooking products, including cooking cream, in regular and organic, Crème Fraiche, whipping cream, vanilla custard, and spreads in a variety of flavors; and ready-to-go drinks.
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Recent Analyst Ratings
#8 - Purple Innovation (NASDAQ:PRPL)
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.6
- Ratings Breakdown
- 3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2.53 (204.7% Upside)
About Purple Innovation
Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $3.25 (242.1% Upside)
About Assertio
Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $5.67 (516.9% Upside)
About Ocugen
Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients' health. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.
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Recent Analyst Ratings
While no one can say for sure that these will be the ten best penny stocks next year, Wall Street's top analysts are giving them high price targets, "buy" ratings and are telling their clients to acquire shares.
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