Does high risk mean high reward? Not necessarily, so say the pros on Wall Street. Specifically citing penny stocks, or stocks that trade for less than $5 per share, analysts advise caution as these names might still be in the early innings, or it could be that they face an uphill battle that is just too steep. Luring investors with their bargain price tags, these stocks might be up against overpowering headwinds or have weak fundamentals. However, analysts argue there are early-stage companies that reflect promising opportunities, with the low share prices meaning you get significantly more bang for your buck. What’s more, even what seems like minor share price appreciation can result in massive percentage gains. The bottom line? Not all risk is created equal. To this end, the pros recommend doing some due diligence before making an investment decision. Using TipRanks’ database, we pulled two penny stocks that have earned a “Strong Buy” consensus rating from the analyst community. Not to mention each offers up massive upside potential. Oncolytics Biotech (ONCY) We’ll start with Oncolytics, a biotechnology company focused on the use of immunotherapy combinations as treatments for cancer. The company’s approach uses pelareorep, an immune-oncolytic virus, to deliver therapeutic agents that both directly target the tumor and activate the immune system’s natural defenses. Oncolytics is conducting its various research programs in partnership with several of the big names in biotech, including Pfizer, Merck, Roche, and Bristol-Myers Squibb. The company’s development pipeline is testing the compatibility of pelareorep in conjunction with the larger companies’ anti-cancer drugs. To date, pelareorep demonstrated positive results making early-stage breast cancer tumors more amenable to checkpoint inhibitor therapy. The data showed that pelareorep induced a robust anti-tumor immune response in some types of breast cancer.