Are These Penny Stocks Set For New Highs This Week?
Penny stocks have often proven to be some of the best forms of investment for those looking to make quick, short term returns in the stock market. However, it isn’t as easy as it sounds. An investor needs to put in a fair share of research to make substantial profits from these cheap stocks.
One of the best ways of going about it is by making a list of penny stocks that are in the middle of a rally. Then figure out which ones may be best to trade at the time. Here is a look at 5 penny stocks that have been rallying recently. Will they continue higher before the end of the week?
Penny Stocks To Watch #1 Aethlon Medical
The first penny stock that could be considered by investors in this regard is that of Aethlon Medical (AEMD – Stock Report). As we’ve seen first hand, it has enjoyed a considerable rally over the course of the past few weeks. Yesterday, the biotech penny stock rallied further after Aethlon completed the registered direct offering of its common stock.
The direct offering managed to raise $3.77 million in proceeds, and the stock rallied by 14% on Wednesday. The other trigger for the rally in the stock is the breakout of coronavirus in China. Investors believe that it could lead to more business for companies like Aethlon. AEMD stock has jumped 250% since the beginning of 2020.
Penny Stocks To Watch #2 Citius Pharmaceuticals
The other penny stock that has been in the middle of a rally is that of Citius Pharmaceuticals (CTXR – Stock Report). Since December, the penny stock has rallied by as much as 229%. It has emerged as one of the biggest gainers among penny stocks, and much of it is due to the positive outcome from the interim futility analysts of its Mino-Lok.
This created a lot of positive around the stock, and since then, it has gained steadily as more and more investors piled on to it. CTXR stock jumped by as much as 12.7% on Wednesday. Furthermore, the company filed an 8-K statement. In it, Citius revealed its new corporate presentation.
Based on the timing of top-line data from Mino-Lok trials, the beginning of 2020 could become important. Specifically, topline data from the superior efficacy interim analysis in the Mino-Lok trial is expected in the first half of 2020.
Penny Stocks To Watch #3 Soleno Therapeutics
Next, investors could also look at Soleno Therapeutics (SLNO – Stock Report). It has rallied significantly over the course of the past week and gained as much as 35%. The biopharma firm is focussed on rare diseases. During the last 2 months of 2019, SLNO stock gained 234%.
The company is currently focussed on DCCR (diazoxide choline controlled-release), a tablet that is meant for treating Prader-Willi Syndrome. Investors could keep an eye out for the latest development with regards to Soleno. Analysts have begun following this biotech stock as well. Craig-Hallum started Soleno Therapeutics at “Buy” and gave a price target of $8.
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Earlier this year the company reported strong growth in the form of trial enrollments. Soleno completed its target enrollment in its Prader-Willi Phase 3 trial. “The achievement of target enrollment represents an important milestone for our DESTINY PWS clinical program,” said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno. “We remain on track to announce top-line data in the first half of 2020.”
Penny Stocks To Watch #4 Tarena International
Another penny stock that could be considered by investors is Tarena International (TEDU – Stock Report). It has made impressive gains over the course of the past week. The company provides professional education services in China through an innovative platform. It combines live instruction as well as classroom-based tutoring and online learning.
Back on January 15, the company announced that the Listing Qualifications Department of The Nasdaq Stock Market Inc sent it a letter indicating that Tarena has regained compliance. Its stock was able to maintain the minimum bid price required by the exchange. Essentially this means that the stock is going to continue to be listed on Nasdaq without any trouble. That resulted in a rally in TEDU stock. Over the past week, it rallied by more than 65%.
Penny Stocks To Watch #5 Accuray Incorporated
Lastly, it is Accuray Incorporated (ARAY – Stock Report) which has emerged as another penny stock that could be worth tracking. Since January 10, ARAY stock has gained in excess of 96%. It is likely that Accuray stock could find itself on a number of penny stocks watch lists if this trend continues.
This month the company presented at the JP Morgan Healthcare Conference. At the conference, Accuray discussed its plans for sustainable revenue growth for the future. Josh Levine, the company’s President, and CEO said, “We expect our growth catalysts in China, including the recent grants of 50 out of 58 Type-A radiotherapy licenses to Accuray systems by the China Ministry of Health this past October…will enable us to achieve compounded annual revenue growth rate in the range of 8% to 12% from Fiscal 2021 through Fiscal 2023.”
