5 Best Penny Stocks to Buy and Hold According to Reddit

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In this article, we will discuss the 5 best penny stocks to buy and hold according to Reddit. If you want to read our discussion on the earnings potential of penny stocks, go directly to 10 Best Penny Stocks to Buy and Hold According to Reddit.

5. Agile Therapeutics, Inc. (NASDAQ:AGRX)

Number of Hedge Fund Holders: 6

Stock Price as of July 29: $0.520

Agile Therapeutics, Inc. (NASDAQ:AGRX) is a New Jersey-based healthcare company focused on catering to the unmet demands of women by offering them various contraceptive options.

Agile Therapeutics, Inc. (NASDAQ:AGRX) is the manufacturer of Twirla, which is a birth control patch for women. On July 26, Naz Rahman at Maxim upgraded Agile Therapeutics, Inc. (NASDAQ:AGRX) stock from a Hold to a Buy rating with a price target of $1. The analyst highlighted the austerity measures adopted by the company’s management and securing the $24 million equity funding as the reasons for the upgrade. These actions will aid Agile Therapeutics, Inc. (NASDAQ:AGRX) in preserving its liquidity until Q1 2023. Rahman also thinks that these measures will provide the company with an opportunity to focus on the commercialization of Twirla.

Furthermore, on July 8, US President Joe Biden signed an Executive Order to protect access to reproductive healthcare services for women after the US Supreme Court overturned the constitutional right to abortion on June 24.

Perceptive Advisors held over 21 million shares in Agile Therapeutics, Inc. (NASDAQ:AGRX) at the end of Q1 2022.

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