$GNPX Among 3 Penny Stocks To Watch With “Strong Buy” Ratings

I’m pretty sure that most people don’t think about penny stocks and analyst ratings at first. From what I’m sure many of you initially experienced, penny stocks have been known for volatile trading of “start-up” companies. Yet it’s important to keep in mind that just because they’re stocks under $5, it doesn’t mean they don’t have potential.

Most of this week, our writers have discussed penny stocks that hit it big this year. We’re not talking about stocks under $1 going to $2. We’re talking about cheap stocks under $5 that have moved higher than $40 in some cases. Check out some of these in our articles:

• 3 Former Penny Stocks That Scored Big On COVID-19
• 5 Penny Stocks That Hit It Big In 2020; 1 As Much As 700%

Honestly, no matter how you “feel” about penny stocks, there are a few things to consider before “writing them off” if you’re on the fence. For starters, some of these “no-name” companies attract “big name” financiers. While family offices will always lend money to penny stock companies, you can’t ignore the fact that so does Deutsche Bank, BofA, and even Wells Fargo. Another thing to consider is that analysts from these and other firms are also giving rating and issuing price targets for these stocks under $5.

[Read More] The Biggest Market Opportunity Of 2020: Coronavirus

So while the choice is yours, all I’m saying is don’t think all penny stocks are worthless names. The fact of the matter is that the vat majority actually have shown potential. Not only that but some of the more popular coronavirus stocks you’ve likely heard of, actually started as penny stocks. With this in mind, let’s see some names that analysts have given a “Strong Buy” rating to. Keep in mind, that analysts aren’t the end-all, be-all and you are ultimately responsible for determining if certain penny stocks are a “buy” or “sell” based on your research.

Strong Buy Penny Stocks To Watch #1: Trillium Therapeutics Inc.

Trillium Therapeutics Inc. (TRIL Stock Report) had a big day on Wednesday. Shares of TRIL stock jumped to highs of over $5 for the second time this month. If Trillium Therapeutics seems familiar, that’s because it is. We initially started to cover this penny stock back in December. At the time it was trading around $0.56. Prior to all of this coronavirus stock hype, Trillium was working on its TTI-621 immune therapy.

Jumping to this year and COVID-19 has dominated headlines. In the case of Trillium it has begun clinical trials of its TTI-621 and TTI-622. But the initial hype wasn’t stemming from a COVID-19 vaccine. Through all of this hype, Trillium has focused on its core model. Between its two treatments, the company is looking to address what’s known as a CD47-based treatment. This “CD47” is a protein found on cell surfaces but in most cancer cells, there are far more of this CD47 protein than there should be.

Jan Skvarka, President and Chief Executive Officer of Trillium said in a recent update, “While we expect a slowdown or potentially a pause in new patient enrolment in our TTI-621 and TTI-622 dose escalation studies, our strong financial position, with about $135 million in cash and investments, will enable us to navigate through this pandemic and continue to execute on our key strategic objectives.”

In March, attention shifted to Trillium after Gilead (GILD Stock Report) made a $4.9B bid for Forty Seven Inc. (FTSV Stock Report). The latter has a similar CD47 inhibitor for acute myeloid leukemia. Among analyst ratings, the majority have TRIL stock listed at “Strong Buy”. What do you think about TRIL stock? Comment below.

Strong Buy Penny Stocks To Watch#2: ReWalk Robotics Ltd.

Shares of ReWalk Robotics Ltd. (RWLK Stock Report) jumped over 30% with well-above-average trading volume on April 22. The company focuses on developing and commercializing exoskeletons to allow wheelchair-bound individuals to stand and walk. If it sounds like a familiar story, you may have also heard of a competitor, Ekso Bionics (EKSO Stock Report) and both are vying for market share.

This week both stocks saw noticeable moves. However, RWLK stock managed to win the battle of the percentage gains so far. Wednesday’s move echos a similar jump the medical device stock saw just last week. On April 14th the penny stock traded more than 6.9 million shares and jumped 68% in a single day. While this wasn’t as much the case for most of the April 22nd session, Power Hour trading saw a flurry of buying and even stronger aftermarket trading. Not only that but following the closing bell, RWLK hit a high of $1.31, which takes it right into “the gap”.

Here’s what I mean by that last part, back in February the stock gapped lower after announcing a discounted share offering. The difference between where it closed the day before and where it opens the day after the announcement is considered “the gap”. When penny stocks “enter the gap” while climbing higher, this could be considered a potentially bullish sign.

While there was no news to speak of on April 22, the volume can’t be ignored. Furthermore, among analyst ratings, the majority have RWLK stock listed at “Strong Buy”. What do you think about RWLK stock? Comment below.

Strong Buy Penny Stocks To Watch #3: Genprex Inc.

Genprex Inc. (GNPX Stock Report) saw its first day of above-average trading volume since mid-March. The penny stock jumped from an open of $2.02 to highs of $2.59 before closing at $2.36. However, it’s also worth noting that it traded more than 5 million shares when it normally trades less than 2.5 million on average. Needless to say, it piqued some interest on Wednesday. But similar to RWLK, GNPX stock gained more momentum later in the day than right off of the opening bell.

While the penny stock saw a steady climb before the afternoon, things started getting very active around 1:30 PM EST. This is when shares ran from around $2.15 to highs of $2.59. While there weren’t any corporate headlines on Wednesday, GNPX stock certainly attracted an audience. This came just a day after the company announced a new VP of Global Clinical Operations, Shannon Inman.

She’ll lead the clinical developmental strategies and protocol design while managing risk assessments. The trials include those with Genprex’s lead drug candidate, Oncoprex™. It is for non-small cell lung cancer and recently received Fast Track Designation for its combination with osimertinib, AstraZeneca’s first-line targeted EGFR TKI drug Tagrisso®.

Something else to note is that many traders were also discussing analyst ratings for the penny stock. Among analyst ratings, the majority have GNPX stock listed at “Strong Buy”. But as with the others, what do you think about GNPX stock? Comment below.

News Provided by PennyStocks.com via QuoteMedia