5 Best Fast Growing Penny Stocks to Buy Right Now

In this article, we will list the 5 Best Fast Growing Penny Stocks to Buy Right Now. Please visit 8 Best Fast Growing Penny Stocks to Buy Right Now to see the extended list and the methodology behind it.

5. Ovid Therapeutics Inc. (NASDAQ:OVID)

Number of Hedge Fund Holders: 20

Ovid Therapeutics Inc. (NASDAQ:OVID) is one of the best fast growing penny stocks to buy right now. On April 9, H.C. Wainwright raised the firm’s price target on Ovid Therapeutics to $4 from $2 with a Buy rating on the shares. The company’s OV4071 oral KCC2 candidate is entering the clinic imminently, triggering warrant exercises. The firm says Ovid has multiple additional potential therapeutic applications slated to be explored with its KCC2 portfolio candidates. H.C. Wainwright cited increased confidence in OV329 for the target doubling.

Earlier on March 18, Ovid Therapeutics reported positive safety and tolerability results for the 7 mg dose of OV329, its next-gen GABA-aminotransferase inhibitor intended for drug-resistant epilepsies. The data showed no treatment-related serious adverse events or ophthalmic changes, reinforcing its potential as a best-in-category therapy.

Backed by a $60 million private placement, the company is now expanding the OV329 program to include clinical trials for tuberous sclerosis complex seizures and infantile spasms, with a Phase 2 study for focal onset seizures expected to begin in Q2 2026. The company also received regulatory clearance to begin a Phase 1 trial in Australia for OV4071, a first-in-class oral KCC2 direct activator.

Ovid Therapeutics Inc. (NASDAQ:OVID) is a biopharmaceutical company that develops impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the US.