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10 Strong Buy Stocks for Under $10

Harriet Lefton, InvestorPlace.com

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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Just because a stock is cheap doesn't mean you should have to compromise on quality. These 10 Strong Buy stocks tick all the boxes. True, they are all trading for under $10, but they also represent compelling investing opportunities based on far more than just their price. I used TipRanks' stock screener to purposefully scan for stocks with a Strong Buy consensus rating from analysts and top analysts alike. These are stocks with a bullish Street outlook based only on the last three months of ratings.

I then ordered the results by price in order to delve deeper into the cheaper stock results. I am confident that these 10 stocks provide intriguing investing opportunities for investors. You don't need to spend over $1,000 on a large-cap stock with a big name to generate serious investing returns. I hope these stellar stock ideas will show you why.

Let's take a closer look now:

SEE ALSO FROM KIPLINGER: 10 Cheap Stocks to Buy With Only $10

Rigel Pharmaceuticals

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Our first Strong Buy stock pick Rigel Pharmaceuticals (RIGL) is also the cheapest. Trading at just $2.98, this biotech offers investors massive upside potential of over 165%. This would take shares to $7.90, the average analyst price target. Most recently, HC Wainwright's Joseph Pantginis reiterated his Buy rating with a $7.50 price target.

He cites two key bullish factors supporting his rating: 1) the potential for Rigel to expand R835 into multiple autoimmune disorders, including arthritis and MS; and 2) the ramp up of newly-approved drug Tavalisse for adults with chronic immune thrombocytopenia (ITP). This is a dangerous disorder that can lead to excessive bleeding and bruising.

According to Pantginis, Tavalisse is "making early strides." He notes that the drug is still in the "show-me" stage of launch for investors. However, the early signs are promising. The drug is priced competitively and it has the backing of a comprehensive commercial strategy. This includes educating physicians on the significant clinical benefits of Tavalisse vs. current treatments and maximizing awareness and access for patients.

Overall, five analysts have published Buy ratings on RIGL in the last three months.

SEE ALSO FROM INVESTORPLACE: 10 Fast-Growing Stocks With Monster Catalysts This Summer

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