In this article, we discuss the 5 best penny stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 15 Best Penny Stocks to Buy Now.
5. Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO)
Number of Hedge Fund Holders: 12
Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) is ranked fifth on our list of 15 best penny stocks to buy now. The company operates from Ohio and makes and sells biopharmaceutical products. On August 11, the company posted earnings for the second quarter, reporting earnings per share of -$0.09, beating market estimates by $0.31. The cash and cash equivalents over the period were close to $37 million at the end of the second quarter. The firm has a market cap of over $109 million.
On July 8, investment advisory HC Wainwright upgraded Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) stock to Buy from Neutral with a price target of $22, noting that the firm was on a path to self-sustainability.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm OrbiMed Advisors is a leading shareholder in Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) with 5.1 million shares worth more than $6.7 million.