Analysts Say These 2 ‘Strong Buy’ Penny Stocks Could Boom (Part-1)

Bullish trends are here to stay after over three months of 2024. After a bottom in late October, the S&P 500 has risen 27% to over 5,200. The NASDAQ index is 30% higher than its October 27 low. Bull-market stats show no indication of slowing.

From Oppenheimer, chief investment strategist John Stoltzfus views the market: “S&P 500 earnings results over the most recent two quarterly reporting seasons, economic data that persists in showing resilience, the Fed's mandate-sensitive monetary policy, prospects for innovation, and cross-generational demographic needs that suggest a shift in mindset driven not so much by fear and greed but a need to invest for intermediate. We raised our S&P 500 year-end target price to $5,500 from $5,200

Growing investor risk tolerance is excellent for the stock market, but especially for higher-risk stocks. This risk can provide big returns for those who take it. Penny stocks, stock prices below $5, offer risk and reward with the potential to double or treble the initial investment

Wall Street professionals advise doing your research before investing in penny companies owing to their volatility. Not all penny stocks will succeed. We sought out intriguing investments with high growth potential. We found two penny stocks with “Strong Buy” consensus ratings using TipRanks. Additionally, each has huge upside potential.

Lineage Cell Therapeutics First is a micro-cap biotherapeutic company developing cell treatments for severe illnesses with high unmet medical needs. The business develops therapeutics using a unique cell-based technology to manufacture terminally differentiated human cells that can support or replace damaged or diseased cells. Our medication candidates, developed on this platform, help the immune system fight a variety of illnesses.

Lineage is researching five possibilities. Three of these are preclinical, but two are in human clinical trials. The most advanced is OpRegen, an ophthalmological medication being evaluated for dry AMD with geographic atrophy.

Together with Roche subsidiary Genentech, Lineage is developing this medication, which might earn substantial royalties. Important developments involve forthcoming data releases. Phase 1/2a clinical trial results from 24 months of research will be released at the 2024 Retinal Cell & Gene Therapy Innovation Summit on May 3. The company will disclose anatomical and functional long-term follow-up data from 10 of 12 patients.

OpRegen is undergoing a Phase 2a subretinal surgical delivery optimization trial. From March last year, the study will assess 60 patients' safety and activity. Roche is conducting the trial, and intermediate findings may be Lineage's next spark.

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