3 Biotech Penny Stocks To Take Note Of Today
When it comes to investing in penny stocks, one of the most important decisions that need to be made is the choice of the sector. The best way of going about it is to choose a sector that has shown decent growth. Once you find it, you can then go look for companies that may have the potential to grow with it.
Biotech is such a sector and there are plenty of options for investors when it comes to biotech penny stocks. Here is a look at three biotech penny stocks that could find themselves on penny stocks watch lists today.
Biotech Penny Stocks To Watch #1: Endo International (ENDP)
The first biotech penny stock to consider is that of Endo International PLC (ENDP Stock Report), which recorded highly impressive gains this week. On Wednesday, there was a lot of speculation that the company was on the verge of reaching a settlement over an opioid lawsuit.
Many of the biggest pharma companies are actually settling for billions of dollars. So, if Endo agrees to a reasonable settlement, it could be a good development for the company. Investors thought so as well and when the news broke, the stock gained as much as 19.20%. In fact, the stock has gained over 43% since September 25th. It is a biotech penny stock that should definitely be on the radar of investors this month.
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Biotech Penny Stocks To Watch #2: Aurinia Pharmaceuticals (AUPH)
The other biotech penny stock that experienced a surge-on Wednesday was that of Aurinia Pharmaceuticals Inc (AUPH Stock Report). The company informed highly positive news with regards to Phase 3 of the AURORA program. Aurinia is going to publish the data from the trial by the end of this year.
On the other hand, the company also stated that it had sold at many as 2.34 million shares at a price of $6.40 per share. The fact that it is considerably higher than the Tuesday closing price of $4.67 is possibly one of the reasons behind the 6.50% rise in the stock price on Wednesday. The stock is now up 28% week-to-date.
READ MORE: 4 Low Float Penny Stocks To Buy or Watch In October
Biotech Penny Stocks To Watch #3: Viveve Medical (VIVE)
Last but not least, the Viveve Medical Inc (VIVE Stock Report) was another biotech penny stock that recorded significant gains this month. It came on the back of a planned equity offering from the company. Although Viveve did not announce the price of the offering, the volume or the terms, it was revealed that it will offer Class A and Class B shares.
However, that did not stop the market from piling on Viveve stock. It has gained as much as 39% on Wednesday after rising as much as 160% earlier in the session. Keep in mind, however, that shares have pulled in significantly from those highs. It will be interesting to see how this penny stock fairs by the end of the week.
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