penny stocks to buy or avoid this month

Are These Penny Stocks To Buy Or Should You Avoid Them At All Costs?

When it comes to penny stocks to buy, one of the most important things to keep in mind is that it is possible to make a lot of money in short timeframes. Therefore, there is a lot of interest in these cheap stocks. Investors are always on the lookout for the next big things from this category.

But since these stocks can move up quickly doesn’t mean that they can’t drop just as fast. One bad announcement turns a penny stock to buy into one that should be avoided at all costs. An industry that can see dramatic shits on penny stock news is biotech.

It’s no secret that the sector and biotech penny stocks have been able to score big wins during 2019. However, it is important to note that one needs to conduct a lot of research in order to discover the best stocks and have the chance of making big profits. Here is a look at three penny stocks that could be “buys” or, in some cases, totally avoided.

Penny Stocks To Buy [Or Avoid] In January 2020 #1 Bellicum Pharmaceuticals

trading penny stocks Bellicum Pharmaceuticals (BLCM)

The first penny stock to consider in this regard is that of Bellicum Pharmaceuticals (BLCM Stock Report). It has managed to record highly impressive gains over the past three weeks.

Earlier on in December 2019, the company announced that its safety switch technology has been licensed by The University of Texas MD Anderson Cancer Center. Furthermore, Bellicum expects to book a $5 million payment received from The University.

Since that announcement, Bellicum stock soared by more than 65% over the course of the past few weeks. On Tuesday, BLCM stock made further gains and managed to rise by as much as 16%.

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It has emerged as one of the more impressive swing-style penny stocks to watch lately. Can that momentum continue as shares gap up during premarket trading on Thursday?

Penny Stocks To Buy [Or Avoid] In January 2020 #2 DURECT

best penny stocks DURECT Corporation (DRRX)

The other penny stock that investors could watch is DURECT Corporation (DRRX Stock Report). Despite ending 2019 with impressive gains, that performance has dramatically shifted course on Thursday.

Leading up to this, investors piled onto it in anticipation of a major announcement. The United States Food and Drug Administration was going to review the company’s pain medication Posimir. That obviously resulted in a lot of interest in the stock by investors.

DURECT is scheduled to launch the product on January 16 and the anticipation with regards to the review from the FDA is understandable. However, this morning DURECT came out with bad news that saw shares plummet. The company announced top-line results from a Phase 2a trial in patients with Psoriasis. DURECT’s DUR-928 didn’t demonstrate a benefit over placebo based on the Investigator’s Global Assessment.

As a result, it looks like DURECT may be focusing on different pipeline drugs moving forward. “With the recently announced positive results from our Phase 2a alcoholic hepatitis trial, our focus moving forward with DUR-928, will be on completing the NASH trial in the first half of this year and initiating the Phase 2b AH trial in the middle of the year,” said James E. Brown, President, and CEO of DURECT, in the January 2 press release. After these results, will DRRX stock become one to totally avoid or can it become one of the penny stocks to buy again?

Penny Stocks To Buy [Or Avoid] In January 2020 #3 Viveve Medical

penny stocks to buy viveve medical (VIVE)

Finally, Viveve Medical Inc (VIVE Stock Report) emerged as one of the penny stocks that made significant gains recently. It came after an important announcement from the company on Tuesday.

Viveve announced that it has managed to regain compliance in line with the listing requirements on NASDAQ. It is a significant development for the company and soon enough, investors piled on to the stock on the back of such positive news.

[Read More] These Penny Stocks More Than Doubled This Quarter; 2 Over 380%

VIVE stock has managed to rally by as much as 40% since the announcement. How will this translate for the penny stock later in the week? Shares traded sideways in Thursday’s premarket session so we’ll see if VIVE remains a penny stock to buy or avoid this month.

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