Stocks of companies trading for $10 per share or lower are termed penny stocks. These stocks attract investors’ attention due to their low prices and potential for substantial gains if the underlying companies perform exceptionally well. However, investing in such stocks involves high risks.
To help identify the best penny stocks for your portfolio, we have leveraged the TipRanks Penny Stock Screener tool. These stocks have received a Strong buy rating from analysts and boast an Outperform Smart Score (i.e., 8, 9, or 10) on TipRanks, which points to their potential to beat the broader market. Further, analysts’ price targets reflect a solid upside potential of more than 70%.
Here are the five such stocks for investors to consider.
- Syros Pharmaceuticals (NASDAQ:SYRS) – This biopharmaceutical company is focused on developing gene-control therapies to treat cancer and other genetic diseases. SYRS stock’s average price target implies an upside potential of 201.7%. Further, it has a Smart Score of “Perfect 10.”
- Gritstone Oncology (NASDAQ:GRTS) – Gritstone is a biotechnology company specializing in the development of personalized cancer immunotherapies. GRTS stock’s price forecast of $10 implies 265% upside potential. Moreover, it has an outperforming Smart Score of eight.
- Emcore (NASDAQ:EMKR) – Emcore provides advanced mixed-signal optics products used in high-speed communication network infrastructures and defense systems. The stock’s average price target implies an upside potential of 419.2%. Also, its Smart Score of eight is encouraging.
- Asure (NASDAQ:ASUR) – Asure provides human capital management software and services. ASUR stock has an average price target of $14.43, which implies 74.5% upside potential from current levels. It has a Smart Score of nine.
- Humacyte (NASDAQ:HUMA) – Humacyte is a biotechnology company specializing in regenerative medicine and tissue engineering. HUMA stock has an analyst consensus upside of 170.3% and a Smart Score of eight.
