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2 penny stocks with strong buy that could gain over 100%
Bank of America has a reputation for keeping its finger on the pulse of the financial world – and one of its key tools is the monthly Global Fund Manager Survey, which solicits opinions from more than 200 hedge fund, mutual fund and pension fund managers, totaling 645 Hold billions of dollars in AUM. It is the largest regularly conducted survey of its kind. And the latest BofA results show that Big Money is confident. More than 90% of the investors surveyed believe that 2021 will recover significantly from 2020, that the asset allocation in stocks and commodities has reached its highest level in 10 years and that global growth is generally at an all-time high. So there is a general consensus that now is the time to invest. The only remaining question is what to invest in? Wall Street pros argue that there are early-stage companies that reflect promising opportunities. The low stock prices mean you are getting significantly more bang for your buck. In addition, even a seemingly minor appreciation of the share price can lead to massive percentage gains. The final result? Not all risks are created equal. For this purpose, the professionals recommend carrying out due diligence before making an investment decision. With that in mind, we used TipRanks’ database to find compelling penny stocks with great prices. The platform led us to two tickers with stock prices below $ 5 and analyst consensus ratings with “strong buy”. Not to mention significant upside potential. ObsEva SA (OBSV) First up is a clinical-stage biopharmaceutical company with a strong focus on women’s health. ObsEva works to develop and commercialize new therapeutics for reproductive health problems in women – all the way through to pregnancy. The company’s lead drug candidate, Linzagolix (referred to as Yselty), is an orally administered GnRH receptor antagonist that has completed two Phase 3 studies, PRIMROSE 1 in the US and PRIMROSE 2 in the US and Europe. The clinical trials included 574 and 535 patients, respectively, and used doses of 100 mg or 200 mg for the treatment of heavy menstrual bleeding associated with uterine fibroids. The results of both studies were positive and supported the favorable safety and efficacy profile of Linzagolix. In an update announced last month, ObsEva reported that, based on Phase 3 results, the European Medicines Agency (EMA) had validated the company’s MAA for Yselty (100 mg and 200 mg) for review . A possible MAA approval is expected in Q4: 21. The drug is also said to be the subject of a New Drug Application (NDA) to be submitted to the FDA in the second quarter. Wedbush analyst Liana Moussatos sees an attractive entry point for investors as the shares switch hands for $ 3.80 apiece. “In our view, Linzagolix has the potential to achieve world class oral GnRH receptor antagonist status based on a flexible dosing regimen with or without add-back hormone therapy (ABT) – a key differentiator from other GnRH receptor antagonists… Based on the positive results of the primary endpoint PRIMROSE 1 and PRIMROSE 2 for YSELTY® / UF and additional follow-up data, we forecast annual sales of more than 750 million US dollars for Linzagolix / UF in 2027, ”said Moussatos. To this end, Moussatos rates OBSV with a Buy and a price target of $ 28. Should their thesis prevail, a potential gain of ~ 643% for twelve months could be in sight. (To see Moussatos’ track record, click here.) Overall, ObsEva has impressed its watchers, as shown by Strong Buy’s unanimous consensus rating for the stock based on 3 recent buy ratings. With a potential return of 342%, the consensus price target for the stock is $ 16.67. (See OBSV stock analysis on TipRanks) BELLUS Health (BLU) The second stock we’ll look at, BELLUS Health, is also a clinical-stage biopharma research company – but the focus here is on a topic that few of us talk about ever think. Hypersensitivity – the state of high or even excessive sensitivity to environmental or external stimuli – can cause a number of diseases, from chronic cough to serious disorders. Sometimes the less severe chronic symptoms can be the worst. Chronic cough and chronic itching (itchy skin) are mild to moderate symptoms that can be triggered by a number of factors. However, if symptoms do not go away, they can have a disproportionately negative impact on quality of life. BELLUS ‘lead drug candidate, BLU-5937, is currently being evaluated for effectiveness in treating these symptoms. BLU-5937 is a highly selective PsX3 antagonist that works on the P2X3 receptor in the cough reflex pathway. The current clinical study is a phase 2b study that continues the phase 2 RELIEF study. The RELIEF study enrolled 68 patients in the US and the UK, 52 of whom completed two test periods. The study showed a statistically significant reduction in cough counts in patients with higher baseline counts. Patients are currently being included and dosed in the phase 2b studies. Interim results are expected mid-year and key results are expected to be released in the fourth quarter. Gregory Renza, analyst at RBC Capital, praises the name of the healthcare sector. “With a proven MOA from the clinically successful P2X3 antagonist Gefaxipant (MRK), we believe that the high selectivity of BLU-5937 can lead to minimal taste effects and higher patient compliance and preference than Gefapixant as2024 with a global sales potential of over $ 900 million in RCC with an upward trend from a possible expansion of the label to indications related to P2X3 hypersensitivity, ”said Renza. “Despite the PE failure of the ph.II trial in RCC, we believe that reducing the incidence of awake cough in high baseline patients shows the POC and asset viability.” So it’s no wonder Renza joined the cops. Together with an outperform rating, the analyst gives the share a price target of USD 8. This goal conveys his confidence in the BLU’s ability to grow ~ 116% over the next twelve months. (To see Renza’s track record, click here.) Turning now to the rest of the road, other analysts like what they see too. With 3 buys and no holds or sells, the word on the street is that BLU is a strong buy. At $ 8.67, the average target price indicates an upside of ~ 134%. (See BLU Stock Analysis on TipRanks.) To find great ideas for trading penny stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that brings together all of the insights into TipRanks stocks. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.