This article presents an overview of the 5 Little-Known Penny Stocks With Massive Upside Potential. For a detailed overview of such stocks, read our article, 11 Little-Known Penny Stocks With Massive Upside Potential.
5. AC Immune SA (NASDAQ:ACIU)
Average Analyst Price Estimate: $10.46
Upside Potential: 285%
Clinical stage biopharma company AC Immune SA (NASDAQ:ACIU) is working on treatments of neurodegenerative diseases. The stock ranks fifth in our list of the little-known penny stocks with huge upside potential. As of February 6 the stock’s price was $2.8 while its 12-month price target set by Wall Street analysts was $10.46. AC Immune SA (NASDAQ:ACIU) in January this year said it has extended its cash runway into 2026 through a $50 million equity financing and milestone payments.
As of the end of the third quarter of 2023, six hedge funds out of the 910 funds tracked by Insider Monkey had stakes in AC Immune SA (NASDAQ:ACIU). The most significant stake in AC Immune SA (NASDAQ:ACIU) is owned by Mark Lampert’s Biotechnology Value Fund / BVF Inc $21.2 million.
4. IHS Holding Ltd (NYSE:IHS)
Average Analyst Price Estimate: $11.71
Upside Potential: 305%
Telecom infrastructure company IHS Holding Ltd (NYSE:IHS) is one of the penny stocks with upside potential. The stock’s one-year price estimate set by analysts is about $12, while its stock price is $2.87.
As of the end of the third quarter of 2023, 14 hedge funds had stakes in IHS Holding Ltd (NYSE:IHS).
In November, IHS Holding Ltd (NYSE:IHS) posted third quarter results. GAAP EPS in the period came in at -$0.79, missing estimates by $0.82. Revenue in the quarter totaled $476 million, beating estimates by $9.13 million.
3. Tenaya Therapeutics Inc (NASDAQ:TNYA)
Average Analyst Price Estimate: $19.14
Upside Potential: 319%
California-based biotechnology company Tenaya Therapeutics Inc (NASDAQ:TNYA) is working on heart disease treatments. It is one of the best penny stocks to buy according to Wall Street analysts as they expect the stock to reach $19 over the next one year while its current stock price as of February 6 was $4.2.
In November Tenaya Therapeutics Inc (NASDAQ:TNYA) posted third quarter results. EPS in the period came in at -$0.39, beating estimates by $0.09.
As of the end of the third quarter of 2023, 13 hedge funds in the database of Insider Monkey had stakes in Tenaya Therapeutics Inc (NASDAQ:TNYA). The most significant stakeholder of Tenaya Therapeutics Inc (NASDAQ:TNYA) was Peter Kolchinsky’s RA Capital Management which owns a $17.1 million stake in Tenaya Therapeutics Inc (NASDAQ:TNYA).
2. Allego NV (NYSE:ALLG)
Average Analyst Price Estimate: $8
Upside Potential: 655%
Netherlands-based EV charging company Allego NV (NYSE:ALLG) is one of the little-known penny stocks with huge upside potential. Wall Street analysts on average expect the stock to reach $8 over the next 12 months, while its current stock price is $1.03 as of February 6.
In November 2023 Allego NV (NYSE:ALLG) posted third quarter results. Revenue in the quarter jumped 28.1% year over year to €28.6 million.
1. Acacia Research Corp (NASDAQ:ACTG)
Average Analyst Price Estimate: $34.1
Upside Potential: 777%
Intellectual property and patent technology company Acacia Research Corp (NASDAQ:ACTG) is one of the little-known penny stocks that have a strong upside potential according to Wall Street analysts. The stock’s average price estimate set by analysts is $34.1 while its stock price as of $3.81.
Activist fund Starboard Value recently upped its stake in Acacia Research Corp (NASDAQ:ACTG) by 200%, ending the fourth quarter of 2023 with over 61 million stake in Acacia Research Corp (NASDAQ:ACTG).
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