Hot Penny Stocks to Buy Right Now

hot penny stocks to buy

In this article, we’ll be talking about three hot penny stocks to buy right now that have a huge upside potential of over 600% in the next 12 months. Remember that penny stocks have a variety of enticing aspects, including cheap stock prices that enable investors to purchase a large number of shares and the possibility for rapid and substantial gains. But there is also a lot of risk involved. So be sure you don’t invest more money than you’re ready to lose in a penny stock. Consider your options before making a purchase. Now that we’ve cleared that out, it’s time to get down to business.

1 . Checkpoint Therapeutics (CKPT)

Checkpoint Therapeutics (CKPT) makes our list of hot penny stocks to buy right now because it has a lot of promise. Over the last one year CKPT stock has gone up by 23% from a 52-week high of $5.38. The corporation has a $267 million market value. In addition, Wall Street seems to be highly optimistic about this penny stock. The average analyst rating is moderate, with a $17 price target and $17 average price. Don’t get your hopes up too high that it will go up right away. However, now is the time to buy it before it takes off.

Let’s take a short look at the business. Immuno-oncology biotech business Checkpoint Therapeutics focuses on the acquisition, development, and commercialization of new medicines for solid tumour cancer patients. CK101 and CK301 are Checkpoint’s two most promising medication prospects. Phase 2 clinical trials for CK101, a small molecule targeted anti-cancer drug, are now underway for the treatment of Non-Small Cell Lung Cancer (NSCLC). When compared to conventional chemotherapy treatments, the medication has already showed potential, which is fantastic news. In addition, CK301, a second antibody medication, is now being tested in a phase one clinical study for recurrent or metastatic cancers. CK301 has also exhibited a 44 percent objective response rate in individuals treated in phase one of the research. Experts are certain that the outcomes of Phase 3 will lead to a considerable increase in the stock price of CKPT. As a result, you should consider adding it to your portfolio or at least keeping an eye on it.

View complete stock information for Checkpoint Therapeutics here

2 . Catalyst Biosciences (CBIO)

Catalyst Biosciences (CBIO) is another exciting penny stock that should be on your radar. CBIO’s stock has fallen more than 30% year-to-date, but the company’s Q1 and Q2 2021 revenues exceeded expectations, and the price has begun to rebound. First quarter revenues were $1.47 million, a 46% increase above expectations in terms of cash and cash equivalents. In addition, short-term investment was $107 million. It is expected that this penny stock will regain its momentum. It has a strong buy rating from analysts, with a price target of $18 and an average price of $17. Make some money now while Catalyst Bioscience’s stock while it is low.

View complete stock information for Catalyst Biosciences here.

3 . Allena Pharmaceuticals (ALNA)

Allena Pharmaceuticals (ALNA) has made it to our list of hot penny stocks to purchase right now because of its enormous upside potential. Allena is dedicated to treating patients with rare and severe metabolic diseases, mainly focusing on metabolic disorders that can cause kidney stones to damage the kidneys and potentially lead to Chronic Kidney Disease (CKD) and stage renal disease. Right now the company is pushing its lead product candidate ALLN-346 treatment forward after it released data from a successful phase 1 trial of ALLN-346 to treat hyperuricemia in patients with chronic kidney disease.

So definitely some exciting things in the works for Allena Pharmaceuticals and some potential big catalysts over the next year or two as their products complete the trials.  The stock presently has a negative outlook. That is to be expected, given the recent trend of the market being in the negative. As a general rule, penny stocks that are ill tend to absorb the brunt of the damage early. Just think of it as an opportunity to jump in after the price has dropped a little. Even though the price has fallen, there is still a lot of room for development in the next several years. The firm has a market capitalization of $73 million. Institutional investors are also interested in Allena shares.  And Allena stock has also been attracting institutional interest. ALNA stock is being snapped up by a wide range of firms. It seems people are really excited about the news of big companies buying up stake in Alllena Pharmaceuticals. The reason they went down also is that recently they announced a direct offering.

Even large-cap stocks may be affected by the announcement of any kind of direct offering, not just penny stocks. But don’t forget that when new Catalysts are developed and their trials are completed, there is possibility for growth. Analysts now rate it as a strong buy, with a high price objective of $11 and an average price of $7.50. Your portfolio will benefit greatly from owning shares of ALNA. Don’t hold your breath waiting for it to rise anytime soon. Take your time. ALNA isn’t something you shouldn’t be keeping an eye on every day. But in a year or two down the road, you’ll be glad you invested in it now.

View complete stock information for Allena Pharmaceuticals here

In conclusion, we want to urge you to be cautious while investing in penny stocks. Most of these companies are small cap stocks, which are prone to extreme volatility in the market. Biotech penny stocks, in particular, carry a high degree of risk.

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