Benzinga
3 Penny Stocks To Buy According To Top Stock Market Analysts
Penny Stocks To Buy With Price Targets Up To 168% According To Analysts Maxim Group & H.C. Wainwright. There is blood in the water after last week’s (2/22/2021 – 2/26/2021) extreme volatility in the stock market, which has left investors & traders on uncertain footing. Nearly every market sector pulled back as interest rates, economic growth, stimulus, and of course, coronavirus cases were all in the public spotlight. Monday, March 1, 2021, the market opened strong, staying true to the wild volatility it has become known for. March 2021 Starts Off By Providing Clarity To Traders & Investors On Key Issues & Topics On Saturday 2/27/2021 the FDA issued an emergency use authorization for the third Covid-19 vaccine from Johnson & Johnson’s (NYSE: JNJ). This single-shot vaccine has begun distribution within the United States giving the public a new and 3rd choice for a Covid-19 vaccine. What’s more, over the weekend, the House passed President Biden’s Covid-19 relief package, which now goes to a vote in the Senate. The stock market seems to be reacting favorably to these events. Many Wall Street bulls have supported further growth in the market. The Oracle of Omaha, Warren Buffett said this in his annual letter over the weekend: “Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: Never bet against America.” Warren Buffett’s words seem to have rippled through the analyst community as well, with a slew of new ratings and target changes to begin the month of March. Among these analysts, H.C. Wainwright and Maxim have just issued fresh outlooks on several penny stocks to kick-off the final month of Q1 2021. According to analysts, these are the top 3 penny stocks to buy right now: Super League Gaming Inc. (NASDAQ: SLGG) ReWalk Robotics Ltd. (NASDAQ: RWLK) Fortress Biotech Inc. (NASDAQ: FBIO) Penny Stocks To Buy [According To Maxim Group]: Super League Gaming (NASDAQ: SLGG) On March 1, 2021, Maxim Group initiated coverage on Super League Gaming (NASDAQ: SLGG) giving a Buy rating on the company. The firm also set a $6 price target on the penny stock suggesting a potential upside of 91% compared to its closing price on Friday (2/26/2021). Will Super League’s stock manage to reach these heights? Esports has been a fast-moving and huge growth sector. Instead of building teams or developing the games themselves, Super League has taken a different approach of providing video-game-derived entertainment as well as an esports community aggregator & media distribution. Super League recently announced a partnership with Harena Data Inc. to produce and distribute video gaming and esports entertainment. [Read more] How To Buy Penny Stocks in 2021 “Harena Data is one of the best-kept secrets in video gaming and esports. They have an impressive set of initiatives dedicated to making esports and gameplay accessible to an ever-increasing global audience of players, fans, and viewers,” commented Matt Edelman, Chief Commercial Officer of Super League Gaming, in the February press release. In addition to Maxim Group’s bullish analyst rating on this penny stock, large financial institutions have also gotten behind the penny stocks. Recently both Nomis Bay Ltd and 3i, LP reported stakes in the company at the end of February 2021. ReWalk Robotics Ltd. (NASDAQ: RWLK) Is A Penny Stock to Buy [According To H.C. Wainwright] Today (3/1/2021), H.C. Wainwright boosted its $2.50 price target to $3.50 for penny stock ReWalk Robotics Ltd. (NASDAQ: RWLK). The firm currently maintains a Buy rating on this penny stock, despite the analyst’s forecast “only” being 32% higher than Friday’s (2/26/2021) closing price, ReWalk has gained some recent notoriety thanks to a few key developments which includes a capital raise of $40 million. The Company intends to use the net proceeds for development activities for its ReStore and Personal 6.0 devices. ReWalk also said it looks to broaden third-party payor and CMS coverage for its ReWalk Personal device and commercialize its new product lines added through distribution agreements. Further uses of proceeds also included R&D for its lightweight exo-suit technology for potential home personal health utilization for multiple indications and future generation designs for its spinal cord injury device, among other things. Obviously, a raise of this size is nothing to ignore, and since it’s going toward particular development targets, 2021 could already be ramping up in a big way for penny stock ReWalk Robotics. Top Penny Stocks To Buy Fortress Biotech Inc. (NASDAQ: FBIO) [According To H.C. Wainwright] One of the biotech penny stocks we’ve discussed frequently has been Fortress Biotech Inc. (NASDAQ: FBIO). This biotech penny stock company has founded several other publicly traded companies. When looking at Fortress Biotech, you’ve also got to consider its related companies as they’ve indirectly impacted momentum in Fortress. [Read More] Robinhood Penny Stocks Are Trending But Are These 5 A Buy This Week? Late last week, H.C. Wainwright reiterated its Buy rating on this penny stock. The firm has a $10 price target for Fortress, suggesting a forecasted upside of $168% compared to Friday’s (2/26/2021) closing price. Whether or not that is reached depends a lot on the company itself. H.C., however, isn’t the only firm with a lofty target. Dawson James boosted its $16 price target earlier in February to $21 and between the two firms, they hold the highest forecasts on Fortress. March also begins with news from one of Fortress’ related companies. Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) announced the formation of an independent Scientific Advisory Board, to be built with leaders in the fields of immunotherapy, lung and skin cancers. “We are honored to have the opportunity to work with such a distinguished group of clinical and scientific leaders on the development of our pipeline products, including cosibelimab in our initial indications in skin and lung cancers, and CK-101 in lung cancer, as well as helping us identify new opportunities for development,” said James F. Oliviero, President and Chief Executive Officer of Checkpoint. Penny Stocks & Analyst Ratings Are all penny stocks with bullish analyst ratings going to go up? No, but when it comes to these penny stock ratings and targets, it should be an indicator that these penny stocks may warrant more research. Do your own due diligence before investing or trading and see if you arrive at the same bullish or bearish conclusion as these analysts do. In this case, these recent ratings on the above 3 penny stocks seem to have resonated with the market as we kick off March 2021. Photo by energepic.com from Pexels. See more from BenzingaClick here for options trades from BenzingaWill Hawaii Pass A Psilocybin Legalization Bill? Senator Chang Makes A Strong Case6 Catalysts Bank Stock Investors Should Watch In 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
