2 BEST PENNY Stocks To Buy For 2021 With +200% MASSIVE Upside Potential (High Growth)
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THESE 2 PENNY STOCKS could go up 200-300% IN 2021. They have crazy potential and I am definitely considering buying shares in THEM. So if you also want to find out about WHAT HIGH GROWTH PENNY STOCKS to BUY AND HOLD for 2021 then you have come to THE RIGHT PLACE.
These past couple months we have seen a huge rally in the big STOCKS in the market and we are slowly seeing people move away from THOSE LARGE CAP STOCKS to smaller stocks. This makes penny stocks a GREAT OPPORTUNITY TO MAKE A LOT OF MONEY. Obviously they are all priced low so it indicates a higher risk BUT if WE CAN PICK OUT the stocks that are strong FUNDAMENTALLY then we can minimize that risk AND MAXIMISE our chances to DOUBLE, TRIPLE, OR QUADRUPLE our money!
This takes to the two stocks of today. ACCORDING TO wall street, SO a bunch major financial institutions, these 2 stocks ARE BOTH STRONG BUYS and have 100s of percents of UPSIDE POTENTIAL.
Palatin Technologies (PTN)
We'll start with Palatin Technologies, a biopharmaceutical company with a unique niche and a competitive advantage. Palatin specializes in the development of melanocortin and natriuretic peptide receptor systems. These are a new class of potential medications, receptor-specific and highly targeted toward specific diseases. Palatin has drugs in development for dry eye disease, obesity, and congestive heart failure. Palatin’s pipeline has more immediate applications, as well – PL8177, originally developed to target ulcerative colitis, has recently entered Phase 1 trials as a treatment for COVID-19.
For the competitive advantage, Palatin has Vyleesi. Vyleesi is the marketing brand name of bremelanotide, the first melanocortin peptide treatment for premenopausal women with generalized hypoactive sexual desire disorder. The FDA considers Vyleesi a ‘first in class’ medication, and approved it for use in June 2019. Palatin has been marketing Vyleesi in North America since then. In July of this year, Palatin settled a legal dispute with AMAG Pharmaceutical, in which Palatin regained all North American legal rights to Vyleesi, along with a $16.3 million settlement, of which $12 million has already been paid.
With a current share price of 77 CENTS it has actually gone up QUITE A BIT since the first recommendation but there is still a crazy potential for upside,
Canaccord analyst John Newman is very bullish on Palantin and SAYS THAT:
"Vyleesi continues to make commercial progress, securing broader insurance reimbursement coverage and strengthening relationships with healthcare providers [...] Palatin continues to look for potential US re-licensing for Vyleesi to enhance commercialization. Possible re-licensing/partnership could revolve around a company currently in the female healthcare products market. We believe a new re-licensing agreement could carry a meaningful upfront payment, given that Vyleesi has full FDA approval," the 5-star analyst opined.
On top of this, Palatin announced Phase 2 data from its PL9643 dry eye disease (DED) exploratory study last week. Newman points out that the results "showed statistically significant improvement in multiple signs and symptoms in the moderate to severe patient population." Palatin plans to initiate phase 2/3 trials in mid-2021.
In line with his bullish stance, Newman rates PTN a Buy, and his $3 price target implies room for a whooping 300% upside potential in the next 12 months.
Overall, Palatin gets a Strong Buy rating from the analyst consensus, and that verdict is unanimous, based on 3 recent Buy reviews. The average price target, $2.17, implies an almost 200% upside for the coming year.
So I personally I think this company sounds very interesting and as always with these BIOpharmaceutical stocks IT IS VERY GOOD NEWS when they manage to claim ALL LEGAL RIGHTS for a certain drug. If that one drug if efficiaous and starts being used then the company behind the drug CAN MAKE TONS OF MONEY.