5 Most Promising Penny Stocks According to Analysts

2. DURECT Corporation (NASDAQ:DRRX)

Average Analyst Price Estimate: $37.67

Upside Potential: 1119.09%

Biopharmaceutical company DURECT Corporation (NASDAQ:DRRX) ranks 2nd in our list of the best most promising penny stocks to buy according to analysts. DURECT Corporation (NASDAQ:DRRX)’s average price target according to Wall Street analysts is $36, while the stock’s price as of August 8 is $3.09. This shows that DURECT Corporation (NASDAQ:DRRX) has an upside potential of over 1000%.

As of the end of the first quarter of 2023, 14 hedge funds in Insider Monkey’s database of 943 hedge funds reported owning stakes in DURECT Corporation (NASDAQ:DRRX). The biggest stakeholder of DURECT Corporation (NASDAQ:DRRX) was Lion Point of Didric Cederholm which owns a $6.5 million stake in the company.