With the third quarter in full swing, the bulls have not lost their grip on equities. The market momentum isn’t likely to run out of steam anytime soon, according to UBS strategist Vincent Heaney.
The positive sentiment is spilling over to companies of all sizes and sectors, including penny stocks, which as the name suggests are cheap and generally trade in the over-the-counter market for below $5 per share.
If investors are going to target penny stocks, it is crucial to research them first. We have uncovered four penny stocks with an average upside potential of 735% across all three companies based on Wall Street analyst price targets. All of these penny stocks operate in the healthcare and biotech sectors, where critical clinical trials and drug approvals dictate the size of their balance sheets.
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