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These 2 ‘Strong Buy’ Penny Stocks Are on Track for Massive Gains, Say Analysts

2 "Strong Buy" Penny Stocks With Over 400% Upside on the Horizon

Risk and reward often travel hand-in-hand, making the stock market both lucrative and dangerous. Among the best exemplars of this axiom are the penny stocks, those equities priced at $5 or less. With that low price comes the potential for extreme gains, as even an incrementally small price increase will translate to a high percentage gain.

However, before jumping right into an investment in a penny stock, Wall Street pros advise looking at the bigger picture and considering other factors beyond just the price tag. For some names that fall into this category, you really do get what you pay for, offering little in the way of long-term growth prospects thanks to weak fundamentals, recent headwinds or even large outstanding share counts.

As the nature of these investments makes it difficult to gauge the strength of their long-term growth prospects, one effective stock selecting strategy is to follow the analysts’ advice.

Using TipRanks’ database, we locked in on two penny stocks that have garnered glowing reviews from the Street, enough to earn a “Strong Buy” consensus rating. Not to mention each offers massive upside potential. Let’s take a closer look.

Daré Bioscience, Inc. (DARE)

We will start with Daré Biosciences, a clinical stage biopharmaceutical company focused solely on issues of women’s reproductive health. The company’s research program features a portfolio of programs dedicated to improving contraception, fertility, vaginal health, and sexual function. In addition to this pipeline, the company has one approved drug, Xaciato, a clindamycin phosphate vaginal gel for the treatment of bacterial vaginosis.

Xaciato brought Daré its first revenue, with a $10 million cash payment from Organon in 3Q22, pursuant to the two firms’ license agreement. The two companies are working to coordinate the launch of Xaciato this year.

On the pipeline side, Daré has seen several recent positive developments. In November of last year, the company announced positive topline results from the DARE-VVA1 Phase 1/2 clinical study of tamoxifen, a proprietary drug formulation designed for vaginal application to treat vulvar and vaginal atrophy in patients with ER/PR+ breast cancer. The company plans to report the results in a peer-reviewed publication.

In a second Phase 1/2 study, DARE-HRT1, the company reported positive pharmacokinetic results earlier this month. This study focuses on a monthly intravaginal ring to…

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