In this article, we will take a look at the 5 best rated penny stocks to buy according to analysts. To see more such companies, go directly to 10 Best Rated Penny Stocks to Buy According to Analysts.
5. Affimed NV (NASDAQ:AFMD)
Analyst Price Target: $6.00
Upside Potential: 837.50%
Germany-based Affimed is trading at $0.64 as of July 13, while its analyst price target is $6. This stock price target shows an upside potential of a whopping 837% from the current levels. The company is working on treatments of lymphoma.
In May the stock jumped after the company announced the FDA cleared an Investigational New Drug Application (IND) permitting a Phase 2 trial to study its innate cell engager AFM13 in a combination therapy for certain patients with Hodgkin Lymphoma.
As of the end of the first quarter of 2023, 12 hedge funds were long AFMD. The most notable hedge fund stakeholder of the company was 683 Capital Partners of Ari Zweiman which had a $6.7 million stake in the company.
4. Atara Biotherapeutics Inc. (NASDAQ:ATRA)
Analyst Price Target: $20.98
Upside Potential: 903.83%
Atara Biotherapeutics Inc. (NASDAQ:ATRA) is one of the best rated penny stocks to buy. Atara Biotherapeutics Inc. (NASDAQ:ATRA) currently has a “Strong Buy” rating from Wall Street analysts. Analysts and investors are awaiting a potential upcoming growth catalyst for the stock in October 2023 when Atara Biotherapeutics Inc. (NASDAQ:ATRA) is expected to post the results of its Phase 2 study on its treatment of progressive multiple sclerosis.
Insider Monkey’s database of 943 hedge funds shows that 14 hedge funds had stakes in Atara Biotherapeutics Inc. (NASDAQ:ATRA) as of the end of the first quarter of 2023. The biggest stakeholder of Atara Biotherapeutics Inc. (NASDAQ:ATRA) was Lee Ainslie’s Maverick Capital which owns an $18.2 million stake in the company.
3. Synlogic, Inc. (NASDAQ:SYBX)
Analyst Price Target: $5.50
Upside Potential: 1007.98%
Synlogic, Inc. (NASDAQ:SYBX) shares are in the news these days after the company announced the FDA issued Fast Track designation to the company’s experimental therapy labafenogene marselecobac to treat the rare metabolic disorder phenylketonuria.
Synlogic, Inc. (NASDAQ:SYBX)’s analyst price target shows an upside potential of about 1000% from the current levels.
In May Synlogic, Inc. (NASDAQ:SYBX) posted Q1 results. GAAP EPS in the quarter came in at -$0.23, in-line with analyst estimates. Revenue in the quarter came in at $0.17 million, surpassing estimates by $0.03 million.
As of the end of the first quarter of 2023, 7 hedge funds tracked by Insider Monkey were long Synlogic, Inc. (NASDAQ:SYBX). The biggest stakeholder of Synlogic, Inc. (NASDAQ:SYBX) during this period was
2. Precision BioSciences, Inc. (NASDAQ:DTIL)
Analyst Price Target: $7.75
Upside Potential: 1055.34%
Genome editing platform company Precision BioSciences, Inc. (NASDAQ:DTIL) shares were trading at around $0.67 as of July 13. According to TipRanks, Precision BioSciences, Inc. (NASDAQ:DTIL)’s average analyst price estimate is $7.75. This shows an upside potential of 1055% from the current levels.
In May, Precision BioSciences, Inc. (NASDAQ:DTIL)’s zercabtagene zapreleucel (azer-cel), an allogenic CD19 CAR T therapy for non-Hodgkin lymphoma (NHL) demonstrated strong results in a phase 1 trial.
A total of 9 hedge funds in Insider Monkey’s database of 943 hedge funds had stakes in Precision BioSciences, Inc. (NASDAQ:DTIL). The biggest stakeholder of Precision BioSciences, Inc. (NASDAQ:DTIL) during this period was Jeffrey Jay and David Kroin’s Great Point Partners which owns a $6.1 million stake in the company.
1. Checkpoint Therapeutics, Inc. (NASDAQ:CKPT)
Analyst Price Target: $33.50
Upside Potential: 1122.63%
Checkpoint Therapeutics Inc (NASDAQ:CKPT) ranks 1st in our list of the best rated penny stocks to buy according to analysts. According to TipRanks Checkpoint Therapeutics, Inc. (NASDAQ:CKPT)’s price target according to analysts is $33.50. In May, Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) said it has priced offering of common stock and plans to raise $10 million.
Just one hedge fund in Insider Monkey’s database had stakes in Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) as of the end of the first quarter of 2023.
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