Written by MarketBeat Staff
December 9, 2023
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.
- Upgrades from Top-Ranked Analysts
- 6 (in the last 90 days)
- Consensus Rating
- Reduce
- Rating Score
- 1.7
- Ratings Breakdown
- 0 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $22.00 (3,448.4% Upside)
About FibroGen
FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and Duchenne muscular dystrophy; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.
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Recent Analyst Ratings
#2 - SVB Financial Group (NASDAQ:SIVB)
- Upgrades from Top-Ranked Analysts
- 5 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.2
- Ratings Breakdown
- 4 Buy Ratings, 5 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $271.82 (1,812,021.2% Upside)
About SVB Financial Group
SVB Financial Group is a holding company, which engages in the provision of banking and financial services to clients primarily in the technology and life science/healthcare industries, as well as global private equity and venture capital clients. It operates through the following segments: Silicon Valley Bank, SVB Private, SVB Capital, and SVB Securities.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 5 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.3
- Ratings Breakdown
- 3 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- N/A
About Nel ASA
Nel ASA, a hydrogen company, provides various solutions to produce, store, and distribute hydrogen from renewable energy in Norway and internationally. The company operates in two segments, Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment produces H2Station hydrogen fueling stations that provide fuel cell electric vehicles with the fueling and long range as conventional fossil fuel vehicles, include cars, buses, trucks, and other applications.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.3
- Ratings Breakdown
- 3 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $4.42 (342.2% Upside)
About 2U
2U, Inc operates as an online education platform company in the United States and internationally. The company operates through two segments, Degree Program and Alternative Credential. The Degree Program segment provides the technology and services to nonprofit colleges and universities to enable the online delivery of degree programs.
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Recent Analyst Ratings
- Upgrades from Top-Ranked Analysts
- 4 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.3
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- N/A
About Hammerson
Hammerson is a cities business. An owner, operator and developer of prime urban real estate, with a portfolio value of £4.7billion (as at 30 June 2023), in some of the fastest growing cities in the UK, Ireland and France. Our portfolio and adjacent lands leverage our experience and capabilities to create and manage exceptional city centre destinations with the opportunity to drive value and reshape entire neighbourhoods.
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Recent Analyst Ratings
#6 - Adverum Biotechnologies (NASDAQ:ADVM)
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $3.50 (288.8% Upside)
About Adverum Biotechnologies
Adverum Biotechnologies, Inc, a clinical-stage company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ixoberogene soroparvovec (ADVM-022), a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal, including wet age-related macular degeneration and diabetic macular edema.
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Recent Analyst Ratings
#7 - Adaptimmune Therapeutics (NASDAQ:ADAP)
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Moderate Buy
- Rating Score
- 2.5
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $4.65 (753.4% Upside)
About Adaptimmune Therapeutics
Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops SPEARHEAD-1 that is in phase II clinical trials with ADP-A2M4 for synovial sarcoma; SURPASS-3 that is in phase II clinical trial with ADP-A2M4CD8 for people with platinum resistant ovarian cancer; and SURPASS that is in phase I clinical trials in patients with head and neck, and urothelial cancers.
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Recent Analyst Ratings
#8 - Canopy Growth (NASDAQ:CGC)
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Hold
- Rating Score
- 2.0
- Ratings Breakdown
- 1 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $14.97 (1,771.5% Upside)
About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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Recent Analyst Ratings
#9 - Elevation Oncology (NASDAQ:ELEV)
- Upgrades from Top-Ranked Analysts
- 3 (in the last 90 days)
- Consensus Rating
- Buy
- Rating Score
- 3.0
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $4.83 (753.3% Upside)
About Elevation Oncology
Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.
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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
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $2.25 (368.8% Upside)
About EMCORE
EMCORE Corporation, together with its subsidiaries, provides advanced mixed-signal products in the United States and internationally. It operates in two segments, Aerospace and Defense, and Broadband. The company offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and artillery survey systems.
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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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