Biotech Penny Stocks To Watch Right Now
Penny stocks are some of the most exciting things to trade if you’re looking to make money quickly. There aren’t many ways to double or triple a small investment in less than 12 months. Despite these cheap stocks coming with higher risk, the rewards can be incredible, and the biotech industry is well-known for playing a role in some of the biggest breakouts in the stock market today.
PennyStocks.com – PennyStocksBiotech Stocks Explode Early
On a larger scale, news of the latest Pfizer (NYSE: PFE) acquisition sent shares of Arena Pharmaceuticals (NASDAQ: ARNA) surging overnight. Had it not been for this news, there’s no telling where ARNA stock would’ve started the week. This has brought plenty of attention to biotech stocks today.
On a lower-priced level, one of the former penny stocks we’ve followed this year, Bellus Health (NASDAQ: BLU), has also helped amplify the excitement stemming from biotech penny stocks. The company announced positive topline results from its Phase 2b SOOTHE trial of its BLU-5937 in treating refractory chronic cough.
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BLU stock has come a long way since we first began following the company. Ironically, that was after Bellus reported negative results on BLU-5937. Regardless, time and continued progress culminated into a favorable outcome this time around, and BLU stock exploded to highs of over $8.30 during the premarket session on December 13. Now the hunt is on for more biotech penny stocks to buy next. Here’s a list of a few names gaining momentum in the stock market today. Are they worth the risk, or should they be entirely avoided?
Penny Stocks To Buy [or avoid]
- Neuronetics Inc. (NASDAQ: STIM)
- Healthcare Triangle Inc. (NASDAQ: HCTI)
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Neuronetics Inc. (NASDAQ: STIM)
Shares of Neuronetics have been quiet for most of December. However, recent events may have gone unnoticed from what has recently been uncovered. The company develops products for those suffering from neurohealth disorders. Its NeuroStar Advanced Therapy system is a transcranial magnetic stimulation treatment for major depressive disorder. According to Neuronetics, NeuroStar has delivered more than 4 million treatments.
What To Watch With STIM Stock
When it comes to biotech penny stocks, it’s essential to look at more than headlines. Filings, Tweets, and even rumors are big pieces of the puzzle that seem to go under the radar. Other things to look at are agency websites like the Food & Drug Administration.
In this case, the FDA site posted a 501(k) premarket notification for
NeuroStar. According to the FDA, for those who may not know, 510(K) is a premarket submission made to FDA to “demonstrate that the device to be marketed is as safe and effective, that is, substantially equivalent, to a legally marketed device (section 513(i)(1)(A) FD&C Act) that is not subject to premarket approval.”The form also showed a decision date of last Friday (12/10). With the decision posted on the FDA site, it will be interesting to see what comes next as details begin circulating.
Healthcare Triangle Inc. (NASDAQ: HCTI)
Another one of the biotech penny stocks to watch at the start of the week is Healthcare Triangle. The medical technology company’s shares popped early after several sessions where HCTI stock dipped to some of its lowest levels since the October IPO. Healthcare Triangle’s model aims at supporting healthcare organizations like hospitals and health systems to improve outcomes. Healthcare Triangle’s data-driven tech platform offers clients cloud, security, and compliance solutions for optimizing the business side of healthcare.
What To Watch With HCTI Stock
This week HCTI stock is on the watch list after its latest update. The company announced that it acquired DevCool Inc. According to Healthcare Triangle’s PR, DevCoo is ranked by Inc. 5000 as one of the fastest-growing private companies in the US this year. It provides services to 6 of the top 10 hospitals in the country specializing in providing services to cancer research facilities.
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“With the acquisition of DevCool, Healthcare Triangle will implement technological advancements designed to improve hospitals’ provisioning of patient care, reduce information technology costs, and enable faster EHR deployments for hospital clients as part of its strategy to consolidate its leadership position in the healthcare space. This will further allow clients to host their EHR on public clouds ( Amazon Web Services, Google Cloud, and Microsoft Azure) with the HCTI’s CloudEz Platform and expertise,” said Suresh Venkatachari, Chairman and CEO of Healthcare Triangle, Inc.
It will be interesting to see how the market digests this latest update from Healthcare Triangle, similar to STIM.
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Petros Pharmaceuticals has been on our list of penny stocks to watch for weeks at this point. While it isn’t developing anything related to cancer or the new virus strain, it has come into focus for different reasons this month. Petros provides treatments for men’s health.
Earlier this month, we discussed the progress made with the sales growth of STENDRA tablets thanks to its digital health marketing agreement with Hims & Hers Health Inc. (NASDAQ: HIMS). The company reported that it experienced a 476% year-over-year uptick in STENDRA sales. The product is a treatment for erectile dysfunction.
What To Wathc With PTPI Stock
Shares of PTPI stock started the week just as they finished out last week. The penny stock climbed to fresh December highs of $4.14 during the early morning session. Momentum has continued after last week’s update that results from an over-the-counter draft label comprehension study were positive for STENDRA. This was a key development in Petros’ plans to engage the FDA in expanding the product’s access through applying for a potential OTC pathway.
Are Biotech Penny Stocks On Your Watch List Right Now?
There’s no denying that penny stocks are red hot right now. Even with the broader markets pulling back, there’s a slew of biotech stocks to watch today, thanks to other industry catalysts. The biggest question for you to answer is, does the risk justify taking it for the potential reward?
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Biotech Penny Stocks To Buy After BLU Stock Explodes? 3 To Watch
Source: Manila Trending PH
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