Is more volatility on tap for stocks? Following a three-week losing streak, the longest in about a year, all eyes are on the market. The three major U.S. stock indexes have struggled for the last few weeks as the titans of tech, which have fueled the charge forward from COVID-induced lows, came under pressure due to overheated valuations, with market watchers waiting to see how renewed lockdown fears will come into play.So, what’s the bottom line for investors? Even though uncertainty remains as Wall Street gears up for the fourth quarter, the pros are pounding the table on a select few names, noting that these tickers boast strong long-term growth narratives.Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Cantor. Major gains could be in store, as the firm’s analysts believe these tickers trading for less than $5 per share could climb all the way to $11.These plays are known for being risky, so we turned to TipRanks’ database. Using the platform, we got the full scoop, to find out why both are so compelling even with the risk involved.Rockwell Medical (RMTI)With the goal of transforming iron deficiency and anemia management in a wide variety of therapeutic areas, Rockwell Medical works to improve the lives of patients all over the world. Given the strength of its technology and its $1.22 share price, Cantor thinks that now is the time to snap up shares.Firm analyst Brandon Folkes notes that RMTI “has begun to build on its presence in the dialysis market” with the recent launch of dialysate Triferic, which is the first and only FDA-approved treatment for the replacement of iron to maintain hemoglobin in adult patients with hemodialysis-dependent chronic kidney disease. This formulation is administered through the dialysate (mixed with liquid bicarbonate).On top of this, an IV formulation of Triferic (Triferic Avnu) will enter clinical evaluation in Q3 2020, with Folkes expecting the commercial release to come in the following quarter. Folkes said, “The company continues to believe in the future of Triferic, dialysate and IV formulations, and is executing on its commercial strategy, which takes time to get adoption.” Speaking to this commercial strategy, RMTI is offering three-month evaluation periods for Triferic and has converted 75% of clinics who completed the evaluation period. RMTI is also positioning Triferic at a price that results in a cost neutral position for the clinics, while receiving the clinical benefits from Triferic.Additionally, the company is set to hold a virtual investor meeting this month to discuss the opportunity for two new indications, total parental nutrition (TPN) and hospitalized acute decompensated congestive heart failure (CHF).“...we believe this incremental information is a meaningful positive, as while RMTI had previously noted its indication in exploring additional indications, investors will now have a concrete map of the development work the company will employ to fully maximize the platform within a product potential of the Triferic platform,” Folkes stated.If that wasn’t enough, on September 9, RMTI announced that it has entered into an exclusive license agreement with Jeil Pharmaceutical for the rights to commercialize Triferic in South Korea. As per the terms of the agreement, RMTI will receive an upfront fee and is eligible for milestone payments and royalties on net sales.All of the above prompted Folkes to comment, “We believe Triferic is an innovative product that will drive significant value for RMTI shareholders. We expect product approvals and upward earnings revisions in our DCF model to drive RMTI's stock higher.”To this end, Folkes rates RMTI an Overweight (i.e. Buy) along with an $11 price target. Should the target be met, a twelve-month gain in the shape of a whopping 801% could be in store. (To watch Folkes’ track record, click here)Turning now to the rest of the Street, 2 Buys and no Holds or Sells have been published in the last three months. Therefore, RMTI has a Moderate Buy consensus rating. Based on the $10 average price target, shares could soar 719% in the next year. (See RMTI stock analysis on TipRanks)Taiwan Liposome Company (TLC)Using its LipAD lipid-assembled delivery system to enable sustained release and targeted deliveries that reduce toxicity and improve efficacy, Taiwan Liposome Company develops cutting-edge nanomedicines. Currently going for $4.38 apiece, Cantor views TLC as an under-the-radar story and believes its share price reflects an attractive entry point.Writing for the firm, analyst Kristen Kluska told clients, “TLC is underappreciated considering the management has an extensive track record in liposomal products (including two acquisitions).” She cites the company's two late-stage development programs, TLC599 (its BioSeizer formulation of dexamethasone sodium phosphate (DSP) designed to provide relief for knee osteoarthritis (OA) pain) and TLC590 (its therapy for post-surgical pain), that “could present with advantages over current standard of care extended release products, in large markets.”According to Kluska, the company remains on track to complete enrollment for the Phase 3 study of TLC599 by YE20. Further, TLC believes this program is superior to the competition as it’s possible to receive one injection every six months and show that repeated dosing is both safe and effective.Kluska added, “Further, TLC599 consists of just one vial, which could allow for a quick preparation, whereas Zilretta has two vials, thus a potentially longer preparation time. The company also has flexibility with the needle size that could be used for this product, and believes there could be a potential utilization in the joints, hip, shoulder, etc., which the company could consider evaluating in the future.” To this end, should the results be positive, the company could submit an NDA during 1H22.When it comes to TLC590, TLC already reported topline results from the Phase 2 post-surgical pain following bunionectomy study earlier this summer, arguing the candidate has a faster onset and a longer duration than other therapies. Now, management needs to meet with the FDA to discuss pivotal trial designs. “As a reminder, TLC is evaluating a different API (ropivacaine) vs. competitors, which could potentially show a stronger safety profile. The company also believes this product could have lower COGS, which could allow for attracting pricing,” Kluska pointed out.If that wasn’t enough, TLC recently revealed it is evaluating a NanoX sustained release of hydroxychloroquine (HCQ) inhalation for prophylaxis and treatment of COVID-19. It already submitted an IND, and could be ready to initiate a Phase 1 study after approval, with data potentially coming by early 2021. It should be noted that Taiwan is the second largest API producer for HCQ in the world, so the company has clear access, in Kluska’s opinion.It should come as no surprise, then, that Kluska stays with the bulls. The analyst rates TLC an Overweight (i.e. Buy) along with an $11 price target. Should her thesis play out, a potential twelve-month gain of 154% could be in the cards. (To watch Kluska’s track record, click here)What does the rest of the Street have to say? With 2 Buys and zero Holds or Sells, the word on the Street is that TLC is a Moderate Buy. In addition, the $11 average price target matches Kluska’s. (See TLC stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.