The month of June isn’t even in its tenth day yet but we’re starting to see incredible breakouts in the “penny stocks to buy” category. Despite the trials and tribulations that the broader markets may or may not be having, the list of penny stocks hitting new highs continues to grow.
This is the crazy part about small-cap stocks and micro-cap stocks: they tend to move to the beat of their own drums. Though you need to have a keen eye to pick the best penny stocks, once you find them, you don’t look back.
Penny Stock Screeners
There are plenty of tools to use to find these gems. Most people will use penny stock screeners. One quick way to find trending penny stocks is to look for ones that have been in consistent uptrends. Once you make this list, you will want to pay close attention to trading volumes.
Though penny stocks can rapidly increase in price, that move may not be substantiated by real interest. What I mean is that many penny stocks can move hundreds of percentage points on “tens of dollars” instead of tens of thousands of dollars.
The worst thing you can do is buy penny stocks that don’t trade enough volume. The reason is simple: it may be easy to buy but it will be hard to sell that penny stock for a gain when it comes time. Needless to say, we’ve got plenty of tips to build penny stock scanners, just send us an email and connect on social media like Facebook, Twitter, or Instagram. We’ll be happy to speak one-on-one with you.
For now, here are 10 of the top penny stocks of June (so far):
Avadel Pharmaceuticals (AVDL)
This healthcare penny stock has been on the move all month. Avadel Pharmaceuticals (AVDL Stock Report) closed the week out at $2.30. That may seem like a lower priced penny stock but consider where it came from. Back at the beginning of May, AVDL stock was trading under $1.20. But since then, the stock has continued to head higher.
Why is AVDL stock rallying? A series of earnings news, FDA speculation, and an upcoming presentation on its narcolepsy drug has sparked interest. The next catalyst to watch will be at the 33rd Annual Meeting of the Associated Professional Sleep Societies being held in San Antonio, Texas, from June 8-12, 2019.
INSYS Therapeutics (INSY)
This biotech firm hasn’t had the best year this year. Some serious controversy surrounding the company had all but collapsed the once $10 stock. Former Insys (INSY Stock Report) execs were found guilty of bribing doctors to prescribe a highly addictive opioid spray and that obviously didn’t sit well with anyone.
So why did INSY stock rebound? Well, paying a $225 million fine was a start. In addition, a few of the company’s board members resigned. With what appears to be the first step of a new regime, the market has responded favorably this month to INSY stock. The company’s shares closed up 14% on Friday and are up more than 70% since June 3.
Protalix BioTherapeutics (PLX)
Seems like we’ve found a bit of a trend here. Healthcare penny stocks are hitting on all cylinders this month. Considering that ETFs like the Healthcare ETF (XLV Stock Chart) is rapidly rallying, it makes sense to put this sector on watch. Protalix BioTherapeutics (PLX Stock Report) has followed suit. The entire month of June hasn’t been favorable to the company but then again, a little penny stock news helps as we saw last week.
The company along with Chiesi Farmaceutici S.p.A announced the application for approval of pegunigalsidase alfa for the treatment of Fabry Disease in the US. If you’re curious, this disease is genetic in nature and affects many parts of the body including gastrointestinal and cardiovascular systems. This having been said, PLX stock jumped from lows of $0.34 on June 3 to as high as $0.52 on June 7.
Cesca Therapeutics (KOOL)
Like the other side of the pillow, KOOL stock is very comfortable to look at right now. Since the beginning of the month Cesca Therapeutics (KOOL Stock Report) has been in an aggressive uptrend. Why the big move for this penny stock? Besides completing a 1 for 10 reverse stock split, which usually doesn’t act as a catalyst for penny stocks, KOOL has some news. It’s wholly owned subsidiary, ThermoGensis will be participating in and exhibiting is PXP® System.
It’s used for point of care prep of bone marrow concentrate. Haihong Zhu is the President of ThermoGensis and explains that, “The PXP® negates many of the inadequacies of currently available systems, including red blood cell contamination in the resulting cell concentrate which can diminish the efficacy of cell-based treatments.
By contrast, the automated, closed PXP®System allows clinicians to rapidly (in under 20 minutes) achieve very high stem cell recovery with negligible RBC and granulocyte contamination. As such, it is expected to bring significant benefits to today’s orthopedic market.”
ImmunoGen Inc. (IMGN)
Okay, you get the hint. Fourth on this list of the top penny stocks of June (so far) is ImmunoGen (IMGN Stock Report). Similar to Insys, this healthcare stock has had a rough year but a pretty bullish month. Since June 3rd, shares IMGN stock climbed from $1.80 to a closing high of $2.19 on Friday. The company’s gotten hit by strings of Class Action suits because of supposed securities fraud conducted by certain officers and/or directors of the company.
Why is IMGN stock climbing this month? It could have something to do with the company’s presentation at the 2019 American Society of Clinical Oncology (ASCO) Annual Meeting, which was held May 31 – June 4.
The findings were presented on, “mature data from the FORWARD II expansion cohort evaluating mirvetuximab soravtansine in combination with Avastin® (bevacizumab) in patients with folate receptor alpha (FRα)-positive platinum-resistant ovarian cancer.”
Another healthcare penny stock that’s been doing well recently is Novan Inc. (NOVN Stock Report). After flatlining in late April, shares of NOVN stock began taking off in May and haven’t looked back this month either. This month is important for the company. The reason being is twofold. First, the company regained compliance with NASDAQ to meet its minimum market value requirement of $50 million.
Second, its first patient has been dosed in the company’s “B-SIMPLE” Phase 3 Program. They’ll be evaluating their SB206 12% QD compared to placebo for treating molluscum. Again for those curious, molluscum is a skin infection caused by the molluscipoxvirus, affecting approximately six million people in the U.S. annually.
Intellicheck Inc. (IDN)
Just when you thought we’d talk about another healthcare penny stock, Intellicheck (IDN Stock Report) comes up. The company’s stock has been making a bullish move ever since late March and really turned up the heat in June. The company has built a business around identification authentication solutions.
Essentially, Intellicheck looks at things like real-time age verification for retail and government agencies. Strong 2018 earnings have helped push the stock and the recent PR blitz targeting the vaping industry has brought more attention to the company. IDN stock is up by over 180% this year and as much as 24% in the month of June thus far.
Just Energy Group (JE)
The New York Stock Exchange company has seen more trading momentum build during the last 3 weeks than it has all year it seems. Though JE stock has been beaten down most of May, the stock actually hit new 2019 highs on June 7. So, what happened? Well, penny stock news, of course. Just Energy Group (JE Stock Report) announced a “strategic review of its business”.
This wouldn’t seem exciting to the average noobie, investing in penny stocks but to the experienced, this could translate into: we’re trying to sell the company. Management said, “The Company has not established a definitive timeline to complete the Strategic Review,” so this could be a flash in the pan in the long run.
But short-term, this penny stock announcement has breathed new life into JE shares. Let’s see how long it can last and if this news will come to fruition.
Digital Turbine (APPS)
We’ve written about APPS stock already. So, many of you who stay updated on what’s happening with penny stocks already should have this on your penny stock watchlist. Digital Turbine (APPS Stock Report) has been in an uptrend all year and June is no different.
Shares have been up by as much as 36%. This is from lows on June 3 to its June-high on the 7th. In addition to that, year to date, it’s up by more than 150% since January 2. The opening price was $1.85.
The company is hitting on a number of cylinders. Most recently it beat earnings with revenues up year-over-year. Digital Turbine’s mobile device management platform, Ignite, has gained significant traction. According to its guidance, the company is now looking to scale its platform. They’ll do it by growing the addressable global market. Recruiting international carriers and bringing in original equipment manufacturers will be a key focus.
Conformis Inc. (CFMS)
Conformis (CFMS Stock Report) is having an amazing month of June so far. We made sure to get this on everyone’s list this month (see: 2 Penny Stocks On Robinhood That Made New 2019 Highs). Additionally, the healthcare penny stock has been on fire all year. Let’s go all the way back to the first day of trading for 2019. Shares of CFMS stock were trading at $0.36. Fastforward to June 7th and Conformis hit a 2019 high of $4.68; that’s 1,200% in the first half of 2019!
The company is a medical technology company that uses its iFit image-to-implant tech to create and sell joint replacement implants. Considering the aging population always needs extra joints, Conformis could be in a position to benefit.