Canaccord Genuity Reiterates Buy Rating on Clover Health Investments, Keeps PT at $4.10

Clover Health Investments, Corp. (NASDAQ:CLOV) is one of the 12 Best NASDAQ Penny Stocks to Buy According to Hedge Funds. On September 8, Canaccord Genuity reiterated the Buy rating on Clover Health Investments, Corp. (NASDAQ:CLOV), keeping the price target at $4.10

Canaccord analyst Richard Close expects Clover Health Investment to benefit from the 2026 Medicare Advantage (MA) rates, which are projected to grow by an average of 9.04%. Along with this growth, the company’s top-rated PPO plan could boost its revenue per member and provide a substantial tailwind. Moreover, on September 9, Clover’s subsidiary, Counterpart Health, announced a major upgrade to its Counterpart Assistant (CA). The company’s fully integrated ambient scribing solution will get smarter with this upgrade, enhancing physicians’ experience.

The analyst weighs on Clover as the company has demonstrated effective cost management strategies, especially in handling Part A and Part B expenditures. Despite facing challenges with higher Part D drug spending, the potential of the company’s membership growth in 2026 justifies Close’s positive take on CLOV.

Clover Health Investments, Corp. (NASDAQ:CLOV) offers medicare advantage plans in the U.S. The company serves preferred provider organization and health maintenance organization plans to Medicare-eligible individuals.

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Disclosure: None. This article is originally published at Insider Monkey.