Investors are constantly looking for stocks that will yield massive returns. That being said, finding these stocks can seem like an overwhelming task. Not to mention it can be expensive. Some of the most well-known names like Amazon and Alphabet can put you out thousands of dollars for just a single share. However, snapping up stocks with strong long-term growth prospects doesn’t have to cost you your entire savings.
Defined these days as stocks priced under $5 per share, the penny stocks offer a fascinating – and frequently lucrative – combination of attributes, advantages, and risks. The advantages come from the low price; even a very small increment in price gain will quickly translate into a high percentage return on the original investment.
This potential for great returns has the analysts at Canaccord picking out possible winners from the market’s lineup pennies – and they have found two stocks that offer investors possible gains of 200% or better, giving them an undeniable appeal at a time of 8% and rising inflation.
Running the tickers through TipRanks’ database, we found out that other analysts are also fans, with each name scoring a “Strong Buy” consensus rating. Let’s take a closer look.
ObsEva SA (OBSV)
We’ll start with an interesting penny stock in the biopharmaceutical sector. ObsEva is focusing on women’s health, and is working on the development of a new therapeutic agent to treat health issues of the female reproductive system. Specifically, the company has developed linzagolix, a new drug candidate for the treatment of endometriosis and of uterine fibroids, two potential serious conditions that can have long-lasting impacts on patients’ health and ability to reproduce.
In recent months, ObsEva has announced several important milestones in the development and commercialization pathway for linzagolix. In February, the company announced that it has entered into a licensing agreement with the British biopharma company Theramex for the commercialization of linzagolix outside of the US, Canadian, and Asian markets. The agreement will…