5 Best Penny Stocks to Buy Now

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In this article, we discuss the 5 best penny stocks to buy now. If you want to read about some more penny stocks, go to the 16 Best Penny Stocks to Buy Now.

5. Compugen Ltd. (NASDAQ:CGEN)

Number of Hedge Fund Holders: 13

Compugen Ltd. (NASDAQ:CGEN) is an Israeli biotech company involved in providing a predictive computational drug discovery platform.

Asthika Goonewardene at Truist gave Compugen Ltd. (NASDAQ:CGEN) stock a target price of $4 and maintained a Buy rating on the stock in a research note issued on August 23. The target price is 3.57 times higher than the closing price as of September 7. Experts believe that Compugen Ltd. (NASDAQ:CGEN) stock offers catalysts during the second half of next year following increased uncertainty generated by the recent developments from SKYSCRAPER-01 purvey. Furthermore, the discontinuation of the alliance with Bristol-Myers Squibb Company (NYSE:BMY) will give Compugen Ltd. (NASDAQ:CGEN) more strategic flexibility.

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