5 Best Penny Stocks Popular on Reddit

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In this article, we discuss the 5 best penny stocks popular on Reddit. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Penny Stocks Popular on Reddit.

5. Eton Pharmaceuticals, Inc. (NASDAQ: ETON)

Number of Hedge Fund Holders: 6   

Price as of August 3, 2021: $5.74 per share  

Eton Pharmaceuticals, Inc. (NASDAQ: ETON) is ranked fifth on our list of 10 best penny stocks popular on Reddit. The firm operates from Illinois and works on the development of drugs for the treatment of rare diseases. On June 15, the company announced that regulatory authorities in the United States had approved Rezipres, an injection marketed by the firm for treatment of clinically important hypotension detected in anesthesia settings. The company has a market cap of over $125 million. 

On June 1, investment advisory B Riley maintained a Buy rating on Eton Pharmaceuticals, Inc. (NASDAQ: ETON) stock but lowered the price target to $11 from $13, appreciating a Complete Response Letter related to a new drug that the company had been developing. 

At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $31 million in Eton Pharmaceuticals, Inc. (NASDAQ: ETON), up from 5 in the previous quarter worth $33 million.

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