Stocks to buy

Get Rich Quick With These 3 Penny Stocks to Buy Now

The future of the U.S. economy appears optimistic, marked by its resilience and outperformance relative to other major economies. Fueled by a strong fiscal policy response to challenges like the pandemic and inflation, the United States is poised for continued growth, with higher wages and sustained economic strength on the horizon. These penny stocks to buy quick will make you rich, especially among the positive market sentiment.

Humacyte (HUMA)

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Humacyte (NASDAQ:HUMA) develops and manufactures acellular tissues to treat various diseases and chronic conditions. HUMA stock is currently up 30.80% YTD, sitting at $3.78 per share. Wall Street Journal analysts give HUMA six ‘buy’ ratings and forecast a median 12-month price target of $6.00, ranging from a low of $3.00 to a high of $15.00.

The global biotechnology industry is expected to grow at a CAGR of 13.96%, valued at $1.55 trillion in 2023 and forecasted to grow to $3.21 trillion by 2030. Government initiatives drive this market due to the rise in the biotech sector in countries such as China, Japan and India.

In Q3 2023, Humacyte disclosed $100 million in cash and cash equivalents. In May 2023, the company finalized a funding agreement with Oberland Capital Management, totaling up to $160 million, of which $40 million was received. This funding injection reinforces Humacyte’s financial position, potentially supporting its ongoing operations and strategic initiatives.

In September 2023, Humacyte unveiled promising results from its V005 Phase 2/3 trial of the HAV for vascular trauma repair. The trial showcased the HAV’s superior performance compared to historic synthetic graft benchmarks, with higher rates of patency, lower rates of amputation and reduced infection rates. Among the 51 patients evaluated for extremity vascular injury, the HAV demonstrated a notable 30-day patency rate of 90.2%, surpassing the historical rate of approximately 81% for synthetic grafts. Additionally, the HAV exhibited a lower amputation rate of 9.8% and a reduced infection rate of 2.0%, showcasing its potential to revolutionize vascular repair treatments and improve patient outcomes. Its strong performance on top of solid funding is poised for future growth.

BriaCell Therapeutics (BCTX)

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BriaCell Therapeutics (NASDAQ:BCTX) is a clinical-stage immuno-oncology company developing an entirely new class of targeted immunotherapies to transform cancer care. BCTX has amassed a valuation of $3.86

Financially, BCTX improved on nearly every metric during 2023. BCTX reported $-20.30 million in net income, marking a YOY increase of 24.35%. Cash from financing also received massive surges of $3.95 million, increasing over 205.65% YOY. Overall, 2023 proved successful for BCTX, with the company outperforming previous years in income and cash flow.

BCTX is set up for success through recent announcements of manufacturing enhancements and integration in its products. BCTX has announced the initiation of “Good Manufacturing Practice (GMP)” manufacturing of its lead candidate for treating prostate cancer, Bria-Pros+. GMP manufacturing of Bria-Pros+ will provide clinical supplies for planned clinical trial use. As BCTX continues to emphasize manufacturing, expect BCTX valuation to climb as more customers gravitate towards the company’s services.

Alternus Clean Energy (ALCE)

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Alternus Clean Energy (NASDAQ:ALCE) is a clean energy-independent power producer. The company develops, installs, owns and operates utility-scale solar parks in the U.S. and Europe. ALCE has amassed a valuation of $0.97 with a strong valuation increase on the day of 0.80%

ALCE is fully established in the market but shows signs of future growth. Valued at $70.56 million in 2023, energy as a service market is projected to reach $140.5 billion by 2030, growing at a CAGR of 9.6% during the forecast period of 2023-2030 

Financially, ALCE improved on almost every metric during Q3 2023. ALCE reported $32.53 million in revenue, marking a YOY increase of 55.41%. Cash from investing also received massive surges of $-23.63 million, increasing over 80% YOY. Overall, ALCE proved successful in recent years, with the company outperforming previous years’ free cash flow estimates by 81.34%. Recent announcements of partnership integration into its services have set ALCE for success. ALCE announced a strategic alliance with Hover Energy to provide consistent, reliable zero-carbon power by combining solar and wind technologies. This partnership seeks to reduce the need for expensive storage, offering commercial and industrial customers a competitive clean energy option. As ALCE continues to emphasize partnerships, expect the valuation of ALCE to climb as more customers gravitate towards the company’s services.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.

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