Analyst: These 2 Penny Stocks Could Quadruple

The analyst started Acasti with a $6 price target

Digital Content Manager
Jun 26, 2019 at 12:25 PM
facebook X logo linkedin


H.C. Wainwright just initiated coverage on biotechs Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) and Acasti Pharma Inc (NASDAQ:ACST) starting both with "buy" ratings and a $4 and $6 price targets, respectively -- a roughly 400% premium to each stock's close last night. The firm said it based its coverage on a 100-physician survey and analysis of both firms' omega-3 platforms. 

Looking at MTNB, the analyst is optimistic about the drugmaker's hypertriglyceridemia treatment, MAT9001, saying the drug has potential to stand out from its competitors following potential Food and Drug Administration (FDA) approval. The stock surged to a two-week high of $0.89 earlier -- briefly topping its 20-day moving average for the first time this month. The shares have pared back some, now up 5.8% to trade at $0.85.

On the charts, MTNB has been on a gradual slide ever since hitting a one-year high of $1.50 in early March -- pushed lower by its 40-day trendline. The stock has managed to stay afloat atop its $0.80 region however, and boast a 42.9% year-to-date gain. 

Turning to Acasti, H.C. Wainwright said it thinks the pharma concern's CaPre omega-3 option could gain traction following potential approval from the FDA. The stock just touched a nine-month high in response, and is now up 11.3% at $1.17. The security is already boasting an impressive weekly gain, up 16%. 

Today's bull note has completely overshadowed the security's less-than-impressive earnings release, too. Acasti reported a fiscal fourth-quarter loss that was wider than what analysts were expecting, but slimmer than the same quarter last year. The company also reported flat revenue, in line with estimates. 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI