In this article, we will list the 5 Best High-Risk Penny Stocks to Buy Right Now. Please visit the 10 Best High Risk Penny Stocks to Buy Right Now if you’d like to see an extended list and how we came up with the list of the best high-risk penny stocks.

5. Equillium, Inc. (NASDAQ:EQ)

On March 13, Roth Capital analyst Adam Walsh initiated coverage of Equillium, Inc. (NASDAQ:EQ), assigning a Buy rating and a price target of $12. The firm’s assigned price target suggests a compelling 458% upside from the current levels. The firm noted that Equillium’s EQ504, an oral colon-targeted therapy, is entering Phase 1 trials for ulcerative colitis, using a mechanism that has already been validated. Despite this advancement, the analyst highlighted that the stock is currently trading as if it held an unproven asset, indicating a potential upside for investors who recognize the value of the drug’s clinical and scientific progress.

On the same day, Equillium, Inc. (NASDAQ:EQ) announced another development. The company entered into a definitive securities purchase agreement with RA Capital Management to raise approximately $35 million in gross proceeds. As part of the agreement, the company will issue around 18.9 million shares of its common stock, priced at $1.854 per share, or $1.8539 per pre-funded warrant sold instead of common stock at closing. The total gross proceeds are expected to reach $35 million before expenses, providing the company with additional capital to support its operations and ongoing development programs.

Equillium, Inc. (NASDAQ:EQ) operates as a clinical-stage biotechnology company. It develops therapies for severe autoimmune and inflammatory disorders in the United States, focusing on conditions with significant unmet medical needs. The company’s lead product candidate is Itolizumab (EQ001).

4. Codexis Inc (NASDAQ:CDXS)

On March 12, Matt Hewitt of Craig-Hallum reiterated his Buy rating on Codexis Inc. (NASDAQ:CDXS). Just a day prior to this, TD Cowen analyst Brendan Smith also maintained his Hold rating on the stock with a price target of $2. This is the lowest price target for the shares on Wall Street, and it still offers 36% upside from here.

Codexis Inc (NASDAQ:CDXS) announced its Q4 2025 earnings on March 11, reporting $38.9 million in revenue for the quarter and $70.4 million for the full year. In addition to 18.7% YoY revenue growth, the firm improved its gross margin from 56% to 64% over the same period.

For the year 2026, CDXS expects $74 million in revenue at the midpoint, with most of the revenue coming in the latter half of the year. Here’s how CEO Alison Moore described the company’s 2026 plans:

“Our goals for 2026 are simple, show our investors proof of success. We can do this by signing the types of contracts I mentioned above and also new innovative licensing deals.”

Codexis Inc (NASDAQ:CDXS) owns the CodeEvolver platform, which helps in the discovery, development, and commercialization of novel enzymes across the world. It also offers the ECO Synthesis manufacturing platform, which is used in the manufacturing of RNAi therapeutics. It was founded in 2002 and is headquartered in California, USA.

3. Domo, Inc. (NASDAQ:DOMO)

On March 12, Domo, Inc. (NASDAQ:DOMO) announced that Nine Entertainment Co. selected its AI and data platform to upgrade its data setup, bring its analytical tools into one system, and support self-service insights across the company. Nine Entertainment, which operates across TV, publishing, streaming, and digital platforms, had been working with multiple tools and separate reporting systems, making it difficult to keep data consistent. By moving to Domo, the company aims to create a single, reliable data source and improve decision-making speed.

The transition showed quick progress, with nearly 50 dashboards delivered in the first two weeks. Nine also pointed to DOMO’s natural language querying feature, which allows non-technical users to analyze data easily while maintaining accuracy and control.

Peter Steggall, vice president of APAC at Domo, Inc. (NASDAQ:DOMO), said:

“Nine is a great example of a modern media company rethinking how data actually gets used day to day. They were looking for more than just dashboards; they wanted fewer tools, faster delivery, and something their teams could actually use. Domo gives them a foundation they can build on over time.”

Domo, Inc. (NASDAQ:DOMO) reported its fourth-quarter fiscal 2026 results on March 10, with total revenue of $79.6 million, coming in above the high end of its guidance range. Gross margin for the quarter was 78.2%, up by more than 2% points year-over-year. Adjusted free cash flow for the year was nearly zero, marking the company’s best full-year cash flow ever. Additionally, the company also reported its highest-ever EPS, with three consecutive quarters of positive earnings and a record full-year EPS.

Domo, Inc. (NASDAQ:DOMO) provides a cloud-based platform for modern AI and data products. The company serves customers across Western Europe, India, North America, Japan, and Australia. It was founded by Joshua G. James in 2010 and is based in American Fork, Utah.

2. C4 Therapeutics Inc (NASDAQ:CCCC)

According to CNN’s compilation of price targets, all 8 analysts covering C4 Therapeutics Inc. (NASDAQ:CCCC) are bullish. The median price target of $7 suggests significant upside, something that was reiterated by Guggenheim and Barclays analysts on Feb 26th and 27th, respectively. While Guggenheim analyst Bradley Canino already had a $7 price target on the stock, Barclays’ Etzer Darout raised his price target from $5 to $7.

These ratings came just after the company’s Q4 earnings on Feb 26, when the firm reported a revenue of $11.016 million vs estimates of $4.48 million. Since the stock had already run up considerably leading up to the earnings, the rally fizzled out a few days after the earnings despite the stellar result. The firm isn’t yet profitable, but a cash position of $297.1 million compared to $199.8 million in the previous quarter suggests it is doing well enough to continue funding its research initiatives to reach the next value-inflection milestone.

C4 Therapeutics Inc (NASDAQ:CCCC) is a biopharma company that develops products that help degrade disease-causing proteins. It is also working on developing oncology products such as the CFT8919 for lung cancer. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.

1. Gossamer Bio Inc (NASDAQ:GOSS)

Gossamer Bio Inc (NASDAQ:GOSS) reported its fourth-quarter results on March 17, delivering a mixed performance as earnings missed expectations while revenue came in stronger than expected. The company posted a GAAP loss of $0.21 per share, falling short of estimates by $0.02 per share. On the revenue side, sales reached $13.8 million, representing a 47.8% year-over-year increase. The figure beat consensus estimates by $6.28 million, indicating a solid top-line growth despite the earnings shortfall.

Faheem Hasnain, Chairman, Co-Founder and CEO of Gossamer Bio Inc (NASDAQ:GOSS) commented:

“Following our PROSERA topline results, we are focused on fully understanding the PROSERA dataset, engaging with the FDA, and evaluating strategic options and capital allocation to position the Company for the future. PROSERA narrowly missed the prespecified statistical threshold for its primary endpoint; however, we believe the totality of evidence supports that seralutinib is an active drug in PAH, with the most pronounced effects observed in patients with more advanced disease.”

On March 6, H.C. Wainwright analyst Patrick Trucchio lowered the firm’s price target on Gossamer Bio Inc (NASDAQ:GOSS) from $10 to $5 while maintaining a Buy rating. The price target adjustment follows a change in the firm’s outlook for seralutinib in pulmonary arterial hypertension. The analyst lowered the estimated probability of success for the drug to 50%, down from the previous 70%, which resulted in the revised valuation and lower price target.

Gossamer Bio Inc (NASDAQ:GOSS) is a pharmaceutical company specializing in the discovery, development, and marketing of treatments in the medical fields of immunology, inflammation, and oncology.

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