These 4 Penny Stocks Can Be Bought For Under $2 Right Now; But Are They A “Buy”?
Investing in penny stocks can often prove to be one of the best ways of generating massive gains in a short time. Moreover, penny stocks are the cheapest stocks in the market so it’s possible to scoop up a large sum. Why would you want to buy penny stocks in bulk? The simple reason is leverage.
For instance, there are many penny stocks that trade below $2 and it is possible for investors to make major returns if they pick the right stock. It’s not unlikely to see one of these cheap stocks to jump $1 or more in a few days or even a few hours.
Simply put, a $1 jump on a $2 stock is a 50% gain for you. Needless to say, it takes skill to find the best penny stocks to buy. Here is a look at four such stocks that could be tracked by investors that can be bought for under $2. But does that mean they are the best penny stocks to trade right now?
Penny Stocks To Buy [Or Sell] Under $2 #1 Sierra Oncology
The first penny stock to be considered is that of Sierra Oncology (SRRA – Free Report). It made significant gains on Monday and emerged as a stock to watch. Sierra’s stock soared by as much as 30%. Although there was no news in relation to Sierra, there was a filing.
In a 13G, it was revealed that The Mangrove Partners Master Fund increased its stake to 9.99% of Sierra. That helped give things a boost to start the week.
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It is important to point out the events from last month. Back in December, the company reported analyses from the phase 3 clinical data for momelotinib, a JAK1, JAK2 & ACVR1 inhibitor. The data was presented at the influential 61st American Society of Hematology Annual Meeting and that had proved to be a source of great optimism among investors.
Penny Stocks To Buy [Or Sell] Under $2 #2 TransEnterix Inc.
Another penny stock that has begun to turn heads this year is TransEnterix, Inc. (TRXC – Free Report). After a relatively flat start to the year, shares are kicking into high gear on Tuesday. The stock closed under $1.50 on January 13 but has already broken out above $2 on the 14th.
What was behind this move? TransEnterix shares shot up 70% after the company announced submission of a 510(k) to the FDA. This was for the first machine vision system in robotic surgery. Anthony Fernando, TransEnterix president and CEO, explained, “TransEnterix is the first company to seek FDA clearance for machine vision technology in abdominal robotic surgery.”
“Rather than simply passing a video signal to the surgeon, the Intelligent Surgical Unit for Senhance will initially have the ability to actually visualize the surgical field to guide movement and capture information.”
Penny Stocks To Buy [Or Sell] Under $2 #3 Tyme Technologies
Next on the list of the penny stocks is Tyme Technologies (TYME – Free Report). It emerged as another big gainer among penny stocks on Monday. The stock jumped by as much as 14.30% and this continued a multi-week breakout that began late last month.
It has gained as much as 92% during the period. On January 8, the company announced that it had licensed out its cancer treatment. Eagle Pharmaceuticals licensed Tyme’s SM-88. On top of this, Tyme reported that its first pancreatic cancer patient was dosed in Part 2 of its TYME-88-Panc pivotal trial.
“Patients with metastatic pancreatic cancer have a very poor prognosis. For those 10,000 patients actively seeking third-line treatment, there are currently no FDA-approved therapies and no oncology guideline recommendations for active therapy. We are passionate about advancing new treatment options for these patients,” said Giuseppe Del Priore, M.D., Chief Medical Officer at TYME.
Penny Stocks To Buy [Or Sell] Under $2 #4 Diffusion Pharmaceuticals
Diffusion Pharmaceuticals (DFFN – Free Report) was one of the top penny stocks we’ve follower for a few weeks now. Since hitting lows of $0.211 in November, DFFN stock has been on the rise. This week things kicked into a higher gear as well. Last week the company announced the addition of industry veteran, Robert Cobuzzi Jr. to its Board of Directors.
“We are fortunate to add a professional of Bob’s stature to our board of directors, and welcome his experience and insight to Diffusion. His contributions to our Company are expected to be both broad and deep, as we leverage his knowledge from drug development to business development and funding, both in the U.S. and abroad. We believe Bob will be invaluable in helping us to achieve our goals.”David Kalergis, chairman and chief executive officer of Diffusion
This comes after the company reported encouraging data from a portion of its Phase 3 INvestigation Tsc Against Cancerous Tumors (INTACT) trial. Can this be enough to push shares higher this week?