5 Penny Stocks With Long-Term Growth Catalysts

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In this article, we discuss the 5 penny stocks with long-term growth catalysts. If you want to read our detailed analysis of these stocks, go directly to the 10 Penny Stocks With Long-Term Growth Catalysts.

5. Ensysce Biosciences, Inc. (NASDAQ:ENSC)

Number of Hedge Fund Holders: N/A     

Ensysce Biosciences, Inc. (NASDAQ:ENSC) is ranked fifth on our list of 10 penny stocks with long-term growth catalysts. The firm operates as a biotech company that develops drugs for preventing overdoses. It is headquartered in California. 

Earlier this month, Ensysce Biosciences, Inc. (NASDAQ:ENSC) announced it had enrolled the first subjects in a clinical study of PF614, a next-generation opioid designed as an extended-release oxycodone prodrug. The stock surged 3% after the announcement. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm HG Vora Capital Management is a leading shareholder in Ensysce Biosciences, Inc. (NASDAQ:ENSC) with 3.4 million shares worth more than $50 million.  

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