Penny Stocks Are Benefiting Big Off Of This Latest Move In Biotech
Over the years, it has been seen that investing in penny stocks has often proven to be highly rewarding. So, there is always going to be a lot of interest in these stocks. However, when it comes to picking penny stocks to buy, an investor could look at some growing sectors and biotech is a sector that should definitely be scouted. Here is a look at 4 biotech penny stocks that have surged in November so far.
Penny Stocks To Watch #1 Aurinia Pharmaceuticals (AUPH)
The first on this list of penny stocks to watch is Aurinia Pharmaceuticals Inc (AUPH Stock Report). AUPH stock has managed to record highly impressive gains since the middle of October. The stock has surged by as much as 80% since then and has displayed excellent momentum. On Tuesday, Aurinia stock surged by another 14% at one point. It seems that investors are anticipating the release of key clinical trial data of the company’s lead product voclosporin.
Back in October, Aurinia had revealed that the last patient had a final study visit as part of the Phase 3 trial. Though shares are now well-out of penny stock territory, it’s an important development to follow and a key point to make. Just because a company’s stock may trade below $5, it doesn’t mean it’s a worthless company. In the case of Aurina, key developments have helped push the stock over 100% since October 10.
Penny Stocks To Watch #2 Proteostasis Therapeutics (PTI)
The other biotech penny stock to watch this week was Proteostasis Therapeutics Inc (PTI Stock Report). We talked about this company a few times already this month and have watched PTI stock rip higher.
The stock has been on a roll over the past three weeks and has surged by as much as 235% since the beginning of the month. This came after the company made an important announcement.
On November 6, the company announced that patient enrollment had been completed for testing its cystic fibrosis transmembrane conductance regulator (CFTR) modulator combinations. Since then the stock has enjoyed an impressive rally. Tuesday saw the stock extend its rally to levels it hasn’t traded at since March of this year.
Penny Stocks To Watch #3 Matinas BioPharma (MTNB)
Another biotech penny stock that may be worth putting in the watch list is Matinas BioPharma Holdings Inc (MTNB Stock Report). MTNB stock has gained as much as 70% over the course of the past month. The surge is related to an FDA advisory committee win for another peer company, Amarin.
The committee voted in favor of Amarin’s product Vascepa to be used in addition to statins in order to reduce risks of cardiovascular events. Since Matinas has a similar product, the stock started climbing. An important date to keep in the back of your head will be December 3rd.
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This is the day that Matinas presents at the Piper Jaffray Healthcare Conference. These events can act as potential catalysts especially for biotechnology companies if investors find vital information pertaining to future developments. We’ll see what comes of it after the holiday but for now, it remains a biotech penny stock to watch.
Penny Stocks To Watch #4 Hepion Pharmaceuticals (HEPA)
Last but not least, Hepion Pharmaceuticals Inc (HEPA Stock Report) was another biotech penny stock winner this month. The company released results from an animal study of its liver cirrhosis product CRV431 on November 21.
After the announcement of the highly positive data, the stock has been surging over the past week. HEPA stock has gained as much as 130% after hitting highs of $5.86 in aftermarket trading on November 26.
Brookline Capital initiated coverage on the biotech company this month as well. The firm started the stock with a Buy rating. Brookline also gave a price target of $12 for the stock. It goes without saying that the Hepion is likely finding itself on penny stocks watch lists this week..