Those 2 penny stocks could rally as much as $ 11, analysts say
At its January FOMC meeting, the Federal Reserve held rates steady – they are currently near their lows, and unsurprisingly, the Fed is holding them there. Fed chairman Jerome Powell may have fed some market pessimism when speaking after the meeting, pointing out that unemployment has risen in recent months. For market watchers seeking support, there is consolation in the Fed’s monetary policy. The central bank has pledged to buy $ 80 billion worth of Treasury bills every month, and is expected to put a rate hike on hold until 2023. At least one top strategist sees the current market environment in terms of opportunities. JPMorgan strategist Marko Kolanovic takes an optimistic stance and writes: “We assume that the global COVID pandemic will decrease rapidly in the coming weeks. In fact, the pace of decline in new cases in the past two weeks is the fastest ever in the US and worldwide. Central banks should remain accommodative amid rising unemployment and over a decade of low inflation that is below their targets – term turmoil like this week provides an opportunity to switch from bonds to stocks. “With that outlook in mind, we set out to find exciting opportunities that won’t break the bank, namely penny stocks. Priced at $ 5 or less, these stocks offer investors the highest growth potential available in the market. Again, there is a risk as the “pennies” are often cheap for a reason. Careful examination is therefore essential. Using TipRanks’ database, we identified two penny stocks that received a consensus rating of “Strong Buy” from the analyst community. Quite z u don’t mention that every company has huge upside potential as some analysts see it spike to $ 11. BioLineRx, Ltd. (BLRX) We’re starting BioLineRx, a clinical-stage biopharmaceutical company focused on developing new cancer treatments. Oncology is an important area for state-of-the-art biopharmaceuticals. Cancer is often fatal and often resisable, consistent with current treatments – and these treatments themselves often cause severe side effects in patients. BioLineRx has an active pipeline of drug candidates. The most advanced, however, is motixafortid, a synthetic peptide that has completed patient enrollment in a phase 3 study to mobilize stem cells for autologous bone marrow transplantation. The drug is being studied for effectiveness in promoting bone marrow harvesting prior to cancer treatment. The results of a pre-planned interim analysis showed « statistically significant evidence for motixafortid treatment at the primary endpoint » so significant that enrollment was completed early with 122 patients instead of 177. Mobilizing stem cells using Motixafortid is believed to be the company’s most efficient route to registering the new drug for regulatory approval. Given the potential of Motixafortide and its share price of $ 2.40, some analysts believe now is the time to pull the trigger. Mark Breidenbach, 5-star analyst at BLRX for Oppenheimer, commented, “Our thesis continues to focus on motixafortid in stem cell mobilization, and we see a disconnect between the company’s market cap and Motixafortid’s market opportunity as a stem cell mobilizer. The main GENESIS secondary endpoints are expected by mid-2021, and we see little risk to this data … « The analyst added, » We believe the results of the Phase 3 GENESIS trial could lead the majority of transplant doctors to choose BL-8040 over Mozobil with G – Combine CSF if the drug is approved. In addition to our work, BL-8040 contains for use in other auto-HSCTs, allo-HSCTs, AML, and solid tumors. The company has a catalyst-rich, deep oncology pipeline that has attracted collaborations with Novartis, Merck and Genentech. “Considering all these points, Breidenbach rates BLRX as a buy, and its price target of USD 11 points to a whopping 358% up for the coming year. (To see Breidenbach’s track record, click here) The rest of the street appears to reflect Breidenbach’s bullish sentiment. With 3 buys and no holds or sells, the consensus is unanimous: BLRX is a strong buy. On top of the good news, the upside is ~ 428% based on the average price target of $ 12.67. (See BLRX stock analysis on TipRanks) Kindred Biosciences (KIN) While most biotech companies focus on human drugs, we’re not the only market. Kindred Biosciences is a biopharmaceutical company in the veterinary market that develops biological medicines to improve the lives of our pets and work animals. The company describes its mission as « bringing pets the same safe and effective medicines that human family members enjoy ». Parvovirus (CPV) is a highly infectious and deadly viral disease that affects dogs. While vaccines are available, untreated cases can have a mortality rate of over 91%. KIND-030, Kindred’s lead drug in the pipeline, is currently being developed for the treatment of this disease. The Currently, the drug candidate is pursuing two paths in the development process – one for the treatment of established infections and one for the prophylactic preventive treatment of CPV. The prophylactic study showed positive results, with all dogs treated avoiding infection while all dogs in the placebo group developed parvovirus disease. KIND-030 also showed a mortality benefit when given to treat infections. The drug candidate is in the crucial study phase of development, the last before possible approval. Last month, Kindred announced that it had entered into an agreement with Elanco Animal Health – a major manufacturer of veterinary drugs – to manufacture KIND-030. Cantor analyst Brandon Folkes sees a lot of potential in Kindred, especially in the company’s agreement with Elanco. “A partnership with a leading animal health company, in this case Elanco, is exactly what the company needed from our point of view. From our point of view, this confirms KINs n A new strategic approach as a drug developer in the search for larger trading partners. We believe today’s deal should show investors that Kindred’s pipeline continues to have significant value that could be realized in the next 12 to 18 months, ”said Folkes. Kindred is also conducting studies with tirnovetmab or KIND-016, an antibody directed against IL31, for the treatment of atopic dermatitis in dogs. The pivotal efficacy study of this drug began in the final quarter of 2020. There is a potentially huge market for successful dermatitis treatment in dogs. Over the past six years, there has been a 47% increase in veterinary visits for dogs with severely itchy skin and the market is valued at $ 900 million or more. “During 2020 for the KIN-A After a difficult year, the company continued to score multiple shots on goal from its diversified pipeline that could reward investors at the current level. With multiple readings in 2021 and once again focusing solely on developing its pipeline, we anticipate that 2021 could be a banner year for KIN should it be able to deliver on the promise of its pipeline and, in particular, its atopic dermatitis portfolio, » so the analyst summarized. To that end, Folkes gives KIN a target price of $ 11, which means an upside potential of 139% for 2021 and an overweight (i.e. buy). (To see Folkes’ success story, click here.) Kindred is another company with a unanimous consensus from Strong Buy analysts based on 5 recent Buy ratings. The stock has an average price target of $ 10.25, indicating ~ 124% growth from the current trading price of $ 4.59. (See KIN 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 presented analysts. The content is intended to be used for informational purposes only. It is important that you do your own research before making any investment.
Will the AUD rise in 2020?
Bankers’ forecasts for the Australian dollar in 2020 will be revised later this year. … Currently, Westpac, NAB and CBA are forecasting that AUD / USD will be around 0.7200 by the end of the year. ANZ expects a value of 0.7000.
Will the AUD rise in 2021?
The Australian dollar, which hit US76. 40 ¢ overnight could rise as high as 85 ¢ by the end of next year, according to strategists at National Australia Bank. They have drawn in a range of $ 80 to $ 85 for the second half of 2021.
Will the USD fall in 2020?
Bank Forecasts for the US Dollar in 2020 Amid uncertainty caused by the coronavirus pandemic, a collapsing US economy, and a surge in the US dollar supply, the US dollar fell nearly 10% from over 3-year highs in March. Most banks expect the US dollar to end the year weak against other currencies.
Why is the AUD rising?
There are several forces driving the Australian dollar higher. First and foremost are the rising prices of raw materials, especially iron ore. The price of iron ore is hovering near an eight-year high as China increases spending on infrastructure that requires steel, which is based on iron ore from Australia.
What was the highest AUD ever?
The decision was made on December 8, 1983 and announced on December 9, 1983. For the next two decades, its highest value against the US dollar in December 1988 was $ 0.881. The lowest value of the dollar ever since the IPO was $ 47.75 cents in April 2001.
Why is the Australian dollar weak?
The Australian dollar fell to a 17-year low on March 19 amid fears of a global coronavirus pandemic that has since been declared by the World Health Organization (WHO). … In the past year the Australian dollar has weakened somewhat against major world currencies such as the US dollar.
Will the Australian Dollar Fall Further?
In our view, AUDUSD may continue to fall in the short term as the global economy falters and risks of further policy easing by the RBA and the US elections. … a decline to 0.6850 would bring AUD / USD well below fair value & quot; says Joseph Capurso, strategist at the Commonwealth Bank of Australia.
Is the pound getting stronger?
Will GBP / USD get stronger in 2020? Unlikely. It will likely stay at the current level. … Concerns escalate over a Brexit deal and devalue the British pound against other currencies.
Will the AUD strengthen against the SGD?
SGD / AUD rate of 0.984 on 01/29/2021 (today’s range: 0.979 – 0.985). Based on our forecasts, a long-term increase is expected, the forex rate forecast for 2026-01-24 is 1.063. With an investment of 5 years, sales of around + 8.02% are expected. Your current investment of $ 100 can go up to $ 108.02 through 2026.
Is AUD stronger than SGD?
In the market, the AUD has strengthened against the major currencies. Compared to SGD, it recovered by around 5% in 2016 and by 4 to 5% in 2017. From the last low of 99 cents against SGD, the AUD recovered by around 10% to 1.09 from January 2017. … The AUD stands at 1.01 against SGD as of early April 2018.