<div id="readability-page-1">No matter your investing style, we all hope to find overlooked stock gems. These are where the biggest gains are made. But finding these stocks can be a challenge. Having access to information investors could only have dreamt of 30 years ago is a double-edged sword. It can be difficult to distinguish between hidden gems and hyped-up junk. At times like these, it can be useful to follow analyst sentiment. But, by definition, overlooked stocks are stocks that either analysts ignore, or they’ve turned negative on for the wrong reason(s). For this article, I’m looking at stocks that one or more analysts have downgraded or lowered their price target in the last 60 days. Analysts frequently think short-term. Buying the rumor and selling the news is common among this group. However, if you play the long game and you have a suitable risk tolerance, you can find overlooked stock gems like the three listed below. <h2>Pure Storage (PSTG)</h2> <div id="2223068"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Tada Images / Shutterstock</div>Pure Storage (NYSE:PSTG) may seem to be an odd choice for a list of overlooked stock gems. The PSTG stock price is up 73% in the last 12 months and 81% in 2024. That would make the stock more likely to be overvalued than undervalued. And that’s what the analysts seem to believe. The company reported a solid earnings report with year-over-year gains on the top and bottom lines. But, in a similar vein to Palantir Technologies (NYSE:PLTR), some analysts believe the growth is not enough to justify further stock price growth. In the last 30 days, Morgan Stanley (NYSE:MS) and UBS Group (NYSE:UBS) have downgraded the stock, with UBS giving the stock a rare Sell rating. The belief is that Pure Storage will have a hard time growing at the aggressive pace needed to justify its valuation. Adding to that concern is the growing competition in the data center space that the company occupies. Nevertheless, analysts are generally bullish on the PSTG stock and have a consensus price target of 9% higher than its current price. <h2>Paramount Global (PARA)</h2> <figure><img width="300" height="152" src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/uploads/2024/05/paramount-300x152.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/uploads/2024/05/paramount-300x152.png"/></figure>It’s always cause for concern when analysts initiate their coverage with a Sell rating. However, that’s exactly what happened to Paramount Global (NASDAQ:PARA). On June 25, Goldman Sachs (NYSE:GS) initiated coverage on PARA stock with a Sell rating and a $9.50 price target. That comes after Wells Fargo (NYSE:WFC) downgraded PARA stock to Underweight and slapped a $9 price tag on the stock. The issues surrounding Paramount are well-known to anyone following the stock. In the game of musical chairs that is happening in the streaming industry, the company is left without a chair. It can’t find a buyer. The most public rebuke came as talks of merging with its majority shareholder, Skydance, fell through. But that may be changing. PARA stock is moving higher on news that the merger is back on. There are still many obstacles to clear, but if Paramount has a viable place in the streaming landscape, it may become one of the overlooked stock gems of 2024. <h2>2seventy bio (TSVT)</h2> <div id="1738211"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Matej Kastelic / Shutterstock</div>If you’re looking for overlooked stock gems, penny stocks are a good place to start. That’s the case for 2seventy bio (NASDAQ:TSVT). The cell and gene therapy company has just a $206 million market cap, but it has revenue — which is something many companies its size cannot claim. In this case, the company received FDA approval for Abecma. It’s a cellular therapy for advanced-stage multiple myeloma patients. The company developed the therapy as part of its collaboration with Bristol Myers Squibb (NYSE:BMY). Better still, 2seventy bio recently received an expanded label for Abecma that may increase revenue. That hasn’t been enough to placate at least one analyst. On June 6, Goldman Sachs downgraded TSVT stock from a Neutral to a Sell with a new price target of $2. And even with Wedbush maintaining its Neutral rating, analysts only give the stock a $5 price target. This isn’t unique for a company that is unprofitable at a time when interest rates remain high. But continued progress towards profitability combined with a rate cut may be enough to make these downgrades look overdone. On the date of publication, Chris Markoch had a long position in PLTR. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article. Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019. </div>

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3 Hidden Stock Gems That Wall Street Is Overlooking: This article discusses overlooked stock gems that analysts have downgraded or lowered their price target on in the last 60 days. It highlights three stocks: Pure Storage (PSTG), Paramount Global (PARA), and 2seventy bio (TSVT). The article provides information on the analyst sentiment and the reasons behind the downgrades, as well as potential growth opportunities for these stocks.