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2 “Strong Buy” Penny Stocks That Could See Outsized Gains

Market volatility is up in current classes, and whereas that will have utilized a brake to the upward pattern, it additionally opens up alternatives for traders prepared to shoulder some additional threat. Because within the markets, we ceaselessly see that what goes down, should come again up. It’s logic behind the previous cliché to ‘buy low and sell high,’ and whereas it could sound apparent, it’s nonetheless a sound solution to generate income. And within the inventory market, there aren’t any ‘lower’ shares than the penny shares. These are equities that commerce for lower than $5 per share, the very backside of the value vary. While they’re priced that low for a cause – and the explanations might fluctuate – low value in itself doesn’t imply that the inventory’s fundamentals are bitter. Smart traders can discover some true bargains among the many penny shares, and set themselves up for outsized positive aspects. What’s the flip facet? Minor share value depreciation can gasoline main share losses. By nature of those large actions, penny shares are notoriously unstable. Using TipRanks’ database, we recognized two penny shares the professionals consider might see outsized positive aspects within the coming months. Not to say each will get a “Strong Buy” consensus score from the analyst group. GlycoMimetics (GLYC) The first penny inventory we’re is a pharmaceutical firm with a deal with oncology therapies. GlycoMimetics’ mission is to find, develop, and commercialize new small-molecule glycomimetic drug candidates. The firm’s analysis is concentrated on the advanced carbohydrates that coat all human cells – and are ceaselessly concerned varied illness processes, together with cancers and inflammatory problems. GlycoMimetics is working with a number of compounds – 5 in all – which might be designed to selectively goal specific molecular mechanisms functioning in carbohydrate biology. The firm’s lead candidate, farthest alongside the event pathway, is GMI-1271, additionally known as uproleselan. This is a first-in-class focused inhibitor of E-selectin, and has obtained Breakthrough Therapy Designation from the FDA as a remedy for adults with Acute myelogenous leukemia (AML). The drug is presently in a Phase Three trial. Earlier trials confirmed optimistic outcomes when uproleselan was mixed with present chemotherapy remedies, together with higher than anticipated remission charges and better total survival. The drug was well-tolerated, and antagonistic results had been fewer than had been anticipated. In the Phase 3 study for uproleselan, the corporate is optimistic on reaching year-end 2021 targets for finishing enrollment in a pivotal trial on sufferers with relapsed or refractory AML. GlycoMimetics has additionally obtained, by its collaborator in China, Apollomics, Breakthrough Therapy Designation for that nation, and in March the collaborator started dosing sufferers in a Phase 1 study. GlycoMimetics second main drug candidate, GMI-1359, goal tumor trafficking and metastatic unfold, by inhibition of E-selectin and CXCR4, two adhesion molecules. The drug candidate confirmed promise in pre-clinical exams, and this previous April the corporate reported extra optimistic outcomes, together with immune activation, within the first two sufferers to be dosed in a proof-of-concept Phase 1b study. The study evaluates GMI-1359 as a remedy for superior breast most cancers with bone metastases. Based on the corporate’s medical applications and its $2.25 share value, main returns could possibly be on the horizon, in line with Roth Capital analyst Zegbeh Jallah. Jallah factors out the continued success of research involving uproleselan, writing of the corporate’s program replace: “Most vital, it appeared, was the anticipated 2H21 enrollment completion of the continued Phase Three research of Uproleselan (E-selectin) in AML… Regarding the precise timing of the readouts, administration famous that extra shade can be supplied later, on condition that the readouts are event-dependent. As quickly as these occasions happen, they will have the ability to present extra granular timelines. However, it’s doubtless that the NCI-sponsored study might meet the factors to set off an evaluation of event-free-survival (EFS) throughout 1H22… This has been seen by many as a non near-term catalyst, however as we race by 2021 the chance is certainly coming into view.” The analyst summed up, “With the progress of Uproleselan, which helps validate a number of different off-shoot applications within the pipeline that additionally goal E-selectin, this stays a great long-term purchase… We would count on extra curiosity on this program as we make it by the 12 months, given the robust scientific rationale and the drug being chosen for an NCI-sponsored study… Overall, we proceed to consider that Uproleselan might turn out to be a broadly used drug, with multi-blockbuster gross sales potential.” To this end, Jallah rates GLYC a Buy along with a $15 price target. Shares could appreciate by 567%, should the analyst’s thesis play out in the coming months. (To watch Jallah’s track record, click here) The company’s progress has attracted 3 unanimous positive reviews from Wall Street, giving it a Strong Buy consensus rating. Based on the $14.50 average price target, the upside potential comes in at 544%. (See GLYC stock analysis on TipRanks) OcuPhire Pharma (OCUP) Sticking with the biotech sector, we’ll shift from cancer research to eye disorders. OcuPhire Pharma is focused on developing and marketing new treatments for disorders at both the front and back of the eye. The company’s pipeline has two main products under development; Nyxol, an eyedrop product, is designed to both reduce pupil size and improve visual acuity, and has indications for disturbances of night vision or low-light-level vision, presbyopia, and pharmacologically-induced mydriasis. The drug candidate has completed seven Phase 1 and 2 trial studies, on a total of 230 patients. The second leading candidate, APX3330, is an oral tablet targeting retinal and choroidal vascular diseases that affect the back of the eyeball. The drug inhibits angiogenesis and inflammation pathways, and is indicated for treatment of diabetic retinopathy and diabetic macular edema. Like Nyxol above, APX3330 has completed numerous early stage trials, including six Phase 1 studies and five Phase 2 studies. The drug has been followed in over 440 patients across those studies. During the first quarter, OcuPhire reported positive early results in the Phase 3 MIRA-2 trial with Nyxol. The product met primary and secondary endpoints on efficacy. In addition, Nyxol was initiated in the Phase 2 VEGA-1 trial, evaluating it in combination with pilocarpine as a treatment for presbyopia. Also in the quarter, APX3330 was initiated in the Phase 2 ZETA-1 trial, an investigation of the drug as a treatment for diabetic-related eye disorders. This study continues from those referenced above. Among the bulls is Canaccord analyst John Newman who rates OCUP a Buy along with a $25 price target. Investors could be sitting on gains of ~589%, should Newman’s forecast play out over the next 12 months. (To watch Newman’s track record, click here) “The optimistic outcomes from the MIRA-2 study… improve the likelihood of approval for Nyxol in Reversal of Mydriasis and has optimistic implications for different Nyxol indications, similar to presbyopia and Night Vision Disturbances… We count on extra optimistic Nyxol knowledge from presbyopia in 2Q21 and from night time imaginative and prescient disturbances in 3Q21, in addition to doubtlessly optimistic knowledge from APX3330 in diabetic retinopathy and Nyxol in a second reversal of mydriasis trial by early 2022,” Newman opined. Do different analysts agree with Newman? They do. Only Buy scores, 4, the truth is, have been issued within the final three months, so the consensus score is a Strong Buy. The common value goal of $23.50 suggests a formidable 458% upside from the share value of $4.21. (See OCUP inventory evaluation on TipRanks) To discover good concepts for penny shares buying and selling at engaging valuations, go to TipRanks’ Best Stocks to Buy, a newly launched device that unites all of TipRanks’ fairness insights. Disclaimer: The opinions expressed on this article are solely these of the featured analysts. The content material is meant for use for informational functions solely. It is essential to do your personal evaluation earlier than making any funding.

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