4 Top Penny Stocks to Watch as August Comes to an End
With the end of August in sight, many investors are looking for the best penny stocks to buy. But, it’s not as simple as a quick Google search, rather, investors need to spend time researching every penny stock on their list. This means understanding the company’s financials, what speculative factors are impacting it, and what could impact it in the longer term.
All of this information will help you to make an educated decision as to whether certain penny stocks are worth watching or not. In addition, investors should have a thorough understanding of what the overall industry that a penny stock is in, is doing. This means understanding recent news events and how that could impact the company in both the short and the long term.
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Right now, one of the biggest impacting factors on the stock market is Covid. With the resurgence of cases as a result of the Delta variant, many investors have returned to more stable penny stocks to watch. In addition, the impact of these new case numbers has been increased market volatility. And because of this, there are plenty of opportunities to find penny stocks to buy. So, with all of this in mind, let’s take a look at four top penny stocks you need to know about right now.
4 Top Penny Stocks to Know About Right Now
- Senseonics Holdings Inc. (NYSE: SENS)
- Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
- Eyegate Pharmaceuticals Inc. (NASDAQ: EYEG)
- BioDelivery Sciences International Inc. (NASDAQ: BDSI)
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a company that has been trending heavily over the past few weeks. And again today, shares of SENS stock are up by around 8% in morning trading. For those unfamiliar, SENS is a biotech penny stock working on CGM or continuous glucose monitoring systems.
These systems are in use for those with diabetes and provide glucose tracking services. In its product line are options such as its Eversense and Eversense XL systems. These are devices that utilize a small sensor, inserted under the skin, that provides constant updates regarding a patient’s glucose levels.
Last week, Senseonics reported its Q2 2021 financial results. So, to understand why shares of SENS are shooting up right now, we have to take a closer look. In the results, Senseonics reported Q2 revenues of around $3.3 million. Additionally, it raised $50 million in gross proceeds from an at-the-market offering.
“In the second quarter we made progress driving increased patient and provider awareness of Eversense through a targeted direct-to-consumer digital advertising campaign and presentations of the PROMISE Study, an evaluation of our 180-day sensor, at the ADA and ATTD conferences.”
The CEO of Senseonics, Tim Goodnow Ph.D.
This is all exciting news and the company. And while it may not fully explain the major bullish sentiment surrounding SENS stock right now, it could help to give some background. Considering this, will SENS stock be on your penny stocks watchlist this month?
Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
Citius Pharmaceuticals Inc. is a biotech company that is developing and commercializing various products for critical care. In early March, the company showed off some of its product candidates such as its stem cell therapy for COVID-19 related acute respiratory conditions. Its other products focus on cancer care, anti-infectives, prescriptions, and more. Its role in treating Covid is one of the reasons that so many investors are watching CTXR stock right now. And, YTD, shares of CTXR stock are up by over 70% which is no small feat.
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On August 12th, the company reported its financial results for the third fiscal quarter of 2021. It announced that the company actively has $115.7 million in cash and cash equivalents as of June 30th. Citius plans on using this money for developing its pipeline and long-term growth. With any biotech company, free-flowing cash is one of the main proponents of growth. And with over $115 million on its balance sheet, Citius looks like it has plenty of capital to sustain operations and continue growing.
“During the quarter, we made progress with all of our programs despite the ongoing challenges of conducting preclinical work and clinical trials during the extended COVID-19 pandemic.” The company is now focused on continuing its Phase 3 trial of Mino-Lok and is “fully committed” to submitting a new drug application to the FDA. Keeping this info in mind, will CTXR make your list of penny stocks to watch?
EyeGate Pharmaceuticals Inc. (NASDAQ: EYEG)
EyeGate Pharmaceuticals Inc. is a biotech corporation that creates products to treat immune diseases and inflammatory diseases. The company primarily develops and commercializes products for the eyes and nervous system. Its PP-001 product is for treating multiple diseases affecting the posterior region of the eye. In the past few weeks, EYEG stock has seen a great deal of momentum. And again today on August 20th, shares of EYEG stock are up by around 4% at midday.
On August 12th, the company reported its second-quarter financial results for 2021. The company’s income and cash equivalents have both increased since 2020. The company’s R&D expenses rose in this time period due to an acquisition and various trial development costs. These are both positives for investors to consider as they show that EyeGate is working hard to continue growing.
“In the second quarter of 2021 we made significant advancements to build our business and our clinical initiatives remain on track as we enter this new phase of continued growth.”
President and CEO of EyeGate, Brian Strem
While EYEG’s stock price is still down YTD, its volume in recent trading sessions has been well above average. With this in mind, will EYEG make your penny stock watchlist?
BioDelivery Sciences International Inc. (NASDAQ: BDSI)
Another penny stock pushing up during intraday trading is BDSI stock. Today’s gain for BioDelivery sciences comes as the company announced a $24 million contract from the Dept. of Veterans Affairs. This is big news, and is likely the main reason that shares of BDSI are up by around 5% at midday.
To further understand BioDelivery Sciences, let’s take a look at its Q2 financial results which were posted a few weeks ago. In the report, the company brought in net revenue north of $41 million. This was mainly driven by its BELBUCA compound, which witnessed higher sales during the quarter. In addition, the company brought in a GAAP net income of over $9 million, or around $0.09 per share with an EBITDA margin of 32%.
“BELBUCA continued its strong double-digit revenue growth trajectory in spite of a slower-than-expected rebound in the pain market, however, we are starting to see gradual signs of market normalization. I am proud of the team and our ability to effectively manage the overall business, delivering an attractive 32% EBITDA margin in the quarter.”
Jeff Bailey, CEO of BDSI
This is all exciting news for the company, and shows just why shares of BDSI stock are seeing heightened attention right now. Considering this, will BDSI stock be on your watchlist this month?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 is all about considering what factors are impacting the market. With so many variables occurring at once, it can seem difficult to stay ahead.
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But, if investors spend the time and energy to do the proper research, investing in penny stocks can be a profitable endeavor. Considering this, which penny stocks are you watching right now?
