Investors are constantly on the hunt for stocks that offer solid returns. However, finding these stocks can be challenging and sometimes expensive. Shares of well-known companies like Apple and Microsoft can cost hundreds of dollars for just a single share. However, there are opportunities to invest in stocks with strong growth potential without spending a fortune.
Penny stocks, which are priced under $5 per share, present an interesting mix of potential rewards and risks. Due to their low prices, even small price increases can lead to substantial percentage gains on the investment.
Although penny stocks can deliver massive returns, there could be a reason they are changing hands at such low levels. These names may face significant challenges, such as overwhelming headwinds or poor fundamentals.
The bottom line? Doing some research is necessary before pulling the trigger on any penny stock.
Fortunately, the Street’s analysts are willing to do the digging for you, and their expertise helps identify stocks likely to experience significant gains.
With this in mind, we’ve used the TipRanks database to pinpoint a couple of penny stocks that the analysts believe are poised for a big rally. According to the data, each stock has a Strong Buy consensus rating from the Street and boasts triple-digit upside potential. Let’s take a closer look.
BioAtla (BCAB)
The first penny stock analysts are betting on is BioAtla, a micro-cap biopharma company dedicated to developing innovative cancer treatments. The company focuses on creating a novel class of antibody-based therapeutic agents targeting solid tumor cancers. To this end, BioAtla has introduced a line of conditionally active biologics (CABs) into the clinical research pipeline. These CABs enable the development of drug candidates that directly target known tumor antigens – elements that have previously proven resistant to existing drug treatments.
BioAtla’s approach first identifies the necessary target to destroy the cancer cell, then identifies the needed potency of the drug candidate, and finally reduces the…
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