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These 2 penny “Strong Buy” stocks could do well, Roth Capital says
What kinds of actions arouse controversy like no other? Penny stock. These tickers trading for less than $ 5 a share have earned the reputation of some of Wall Street’s most divisive names, with these shows either met with open arms or coldly. It’s understandable why some investors are wary. Opponents are quick to point out that there may be a very real reason why these stocks are switching hands for small change, with low stock prices often masking obstacles such as weak fundamentals or worrying headwinds. That said, others are drawn to the growth potential of penny stocks. The fact is that even a slight appreciation in the stock price can mean huge percentage gains and, therefore, serious gains. Plus, your money goes further with these business names. No matter which side you take, one thing is certain, due diligence is required before making any investment decisions. This is where the experts, aka Roth Capital analysts, come in. These professionals bring in depth knowledge and experience into play, bearing in mind that our focus has been on two penny stocks that have received the favor of analysts at Roth Capital. Running the tickers through the TipRanks database, both were also cheered by the rest of the street, as they boast a consensus from analysts ‘Strong Buy’. Not to mention the substantial upside potential is on the table. Cellectar Biosciences (CLRB) Leveraging its proprietary phospholipid drug conjugate (PDC) release platform, Cellectar Biosciences develops cutting-edge cancer treatments. Based on the potential of its drug candidate, CLR 131, and its share price of $ 1.24, Roth Capital thinks now is the time to take action. Representing the company, analyst Jonathan Aschoff tells Customers are optimistic about CLR 131, which is a small molecule targeted PDC designed to deliver cytotoxic radiation directly and selectively to cancer cells, in the indications of lymphoplasmacytic lymphoma (LPL) / Waldenstrom’s macroglobulinemia (WM). According to Aschoff, following his Type B orientation meeting with the FDA, “CLRB is ready to initiate its first pivotal CLR 131 study in LPL / WM after achieving an ORR of 100% and a response rate greater than 75. % in four patients “. Emphasizes that although CLRB has just reported promising results in multiple myeloma (MM) (40% ORR in triple class refractory (TCR) patients at total body doses of at least 60 mCi), LPL / WM was selected for the initial pivotal study based on very strong initial results and less competition for patients. “We consider this to be a prudent decision because the NCCN Compedia List in MM is a simple peer-reviewed publication away, if first approved in LPL / WM. We also note that the CLRB has consistently improved its CLR 131 dosage, essentially splitting doses so that higher total body doses are well tolerated, “Aschoff explained. In addition to the good news, the therapy generated activity in preliminary unresectable Phase 1 brain tumors. Aschoff added: “Disease control was demonstrated in two heavily pretreated patients with ependymomas, showing the drug’s ability to cross the blood brain barrier, and all doses up to 60 mCi / m2 showed a favorable safety profile.” To this end, Aschoff values the CLRB at Buy along with a price target of $ 10. Investors could pocket a gain of 713% if this target is met in the next twelve months. (To see Aschoff’s track record, click here) Do other analysts agree? They are. In the last three months, no 5 Purchases have been issued and no suspension or sale. So, the message is clear: CLRB is a strong buy. Given the $ 5.48 average price target, the stock could rise 345% from current levels. (See CLRB stock analysis on TipRanks) Applied Genetic Technologies (AGTC) With extensive experience in gene therapy, Applied Genetic Technologies designs and builds all the critical elements of gene therapy and brings them together to develop successful treatments for patients. Roth Capital believes the long-term growth of this stock is strong, analyst Zegbeh Jallah points out that recently released data for its XLRP gene therapy program, which is expected to go into pivotal trials in the first quarter of 2021, reiterated. his upside thesis. “While the market does not fully appreciate the data given the way the stock traded, we continue to believe that the results suggest AGTC may have better therapy, which is supportive of planned pivotal efforts,” he explained. updated on the results of the Phase 1/2 XLRP study, using FDA criteria, AGTC evaluated responses at 12 months in the lowest dose groups (2 and 4) and at 6 months in the highest dose groups (5 and 6 ). According to Jallah, “initial responses were observed in dosage groups 2, 3, 4, 5 and 6, with an impressive duration of response even at 12 months.” Additionally, at 6 months, the dose used in Group 5 produced a Response Rate of 43% or Response Rate of 57% if a patient who did not meet the enrollment criteria was excluded. In Group 6, a response rate of 50% was observed, or 100% excluding patients who did not meet the enrollment criteria. Jallah added: “All measurements were obtained in the 36 perimeter grid, which we believe should make it easier to pre-select the loci that might respond. Although BCVA is not the primary endpoint, improvements in BCVA, which can capture changes. in the central region, they were held at 12 months. “While some investors have expressed concern about Meira’s competing therapy, Jallah believes AGTC’s technology could have an advantage. “Overall, we believe that data from both companies are strongly indicative of the efficacy potential of gene therapy for inherited retinal disease, and although differences in study design make direct comparisons difficult, we believe AGTC could have a competitive advantage. heading towards studies, “he commented. In keeping with his optimistic approach, Jallah reiterated a buy rating and a price target of $ 30, indicating upside potential of 568%. (To see Jallah’s track record, click here) All in all, other analysts echo Jallah’s sentiment. 5 purchases and zero takes or sales add up to a strong purchase consensus rating. The median price target of $ 18.25 is less aggressive than Jallah’s, but still leaves room for a potential upside of 306%. (See AGTC Stock Analysis on TipRanks) To find good ideas for trading penny stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buys, a newly launched tool that combines all of TipRanks’ equity insights. Disclaimer: The views expressed in this article are only those of the analysts in attendance. The content is to be used for informational purposes only. It is very important to do your own analysis before making any investments.
