5 Stocks to Buy Now Trading Under $10 With Mammoth Upside Potential

MEI Pharma

Investors looking for a low-price biotech play could have a big winner here. MEI Pharma Inc. (NASDAQ: MEIP) is a late-stage pharmaceutical company focused on the development of various therapies for the treatment of cancer. Its Zandelisib is an oral phosphatidylinositol 3-kinase delta inhibitor that is in a Phase 2 clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in a Phase 1b multi-arm trial to treat B-cell malignancies. Voruciclib is an oral cyclin-dependent kinase inhibitor that is in Phase 1b clinical trial for acute myeloid leukemia and B-cell malignancies.

MEI Pharma is also developing ME-344, a mitochondrial inhibitor targeting the oxidative phosphorylation complex, which is in a Phase 1 clinical trial for the treatment of human epidermal growth factor receptor 2 negative breast cancer. Its Pracinostat is an oral available histone deacetylase inhibitor that is in a Phase 2 clinical trial to treat patients with myelodysplastic syndrome.

The company has a license, development and commercialization agreement with Kyowa Kirin; a clinical collaboration with BeiGene; a license, development, manufacturing and commercialization agreement with Helsinn Healthcare; and license agreements with Presage Biosciences and CyDex Pharmaceuticals.

The Stifel price target is $9, which is lower than the consensus figure of $9.60. The stock traded near $3.50 recently.

Safe Bulkers

This is a great way for investors to play the shipping sector. Safe Bulkers Inc. (NYSE: SB) provides marine dry bulk transportation services. It owns and operates dry bulk vessels for transporting bulk cargoes primarily coal, grain and iron ore.

As of March 13, 2020, the company had a fleet of 41 dry bulk vessels, having an average age of 9.5 years and an aggregate carrying capacity of 3,777,000 deadweight tons. Its fleet includes 14 Panamax class vessels, 10 Kamsarmax class vessels, 13 post- Panamax class vessels and four Capesize class vessels.

The $3 Stifel price target compares to the $1.90 consensus target. The share price rose above $2 last week.

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