penny stocks to watch this week

Penny Stocks To Watch After Coronavirus Comments

This topic continues to captivate headlines: the coronavirus. A number of penny stocks have greatly benefited from speculation on “what’s next” for the virus spread. Today may have opened a bigger can of worms for investors. Top U.S. health officials said on Tuesday that the American public should prepare for the spread of coronavirus across the country.

“It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen and how many people in this country will have severe illnesses,” Dr. Nancy Messonnier said during a media briefing Tuesday. She is the head of the Centers for Disease Control and Prevention’s National Center for Immunization and Respiratory Diseases.

While U.S. Department of Health & Human Services representatives discussed options, it’s clear that a vaccine is still more than “a few months” away. While the ebb and flow of the daily market shifts with new headlines, the overall sentiment could be clear: this virus might hang around for a while.

The Trump administration has already requested over $2 billion to fight the outbreak. Needless to say, government officials say there’s much more money needed. No matter where either side of “the isle” stands right now, coronavirus concerns have grown. In light of this, we’re taking a look at a short list of penny stocks to watch as fears grow.

Penny Stocks To Watch: IMC International Mining

For a second consecutive day this week, shares of IMC International Mining (IMCX – Free Report) (IMIMF) made higher highs. Gold and junior gold stocks have long been thought of as safe havens amid market uncertainty. While a number of gold stocks saw heavy consolidation on Tuesday, IMC was one of the few that didn’t, in comparison.

IMC International Mining is a junior exploration and development company. Right now it has on 100% owned asset in Arizona and has also just signed a letter of intent to acquire another property in British Columbia, Canada. In reference to the former, its Bullard Pass Property is a “property of merit and further exploration is warranted.” That’s according to an amended and restated NI 43-101 Technical Report. According to IMC International, district production totals were 614,000 pounds of copper, 3,600 ounces of gold, and 15,000 ounces of silver from 17,000 tons mined.

Rider:  It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.

But what’s more, is that its latest potential acquisition could open new opportunities for greater discovery. Through the acquisition of Thane Minerals, IMC would gain immediate access to the Cathedral Project. This is in an area called the “Quesnel Terrane” which is rich in mineralization. This area hosts past and planned production.

Rider:  It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property. 

Based on the Cathedral still in a relatively unexplored portion of the Quesnel Terrane, this could signal new opportunities for IMC. Needless to say, over the past 2 months, shares have enjoyed a strong bullish move. Since the beginning of January, IMC International stock has climbed from $0.25 CAD to highs of $0.47 CAD this week.

coronavirus penny stocks IMC International Mining (IMCX) (IMIMF)

Penny Stocks To Watch: Cocrystal Pharma Inc.

Cocrystal Pharma, Inc. (COCP – Free Report) was somewhat of an anomaly earlier in the week. That was, until it reported some big news. COCP stock saw a jolt of momentum after reporting that it entered a license agreement with Kansas State University Research Foundation. The agreement will see the two developing proprietary antiviral compounds for the treatment of – you guessed it – coronavirus.

The company was granted exclusive, royalty-bearing right and license to certain compounds covered by the Foundation’s patents. So far, that’s all that was needed to see this penny stock soar. Since the end of last week, COCP stock has climbed as much as 400%.

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The biggest question is what comes next? With the CDC and Health & Human Services both suggestive of more to come will COCP continue to rally? Shares haven’t traded this high since last August.

coronavirus penny stocks Cocrystal Pharma (COCP)

Penny Stocks To Watch: Allied Healthcare Products

Allied Healthcare Products (AHPI – Free Report) had a great run last month. The biotech penny stock managed to extend a rally that started in early January. At the time shares traded around $1.22 and didn’t stop running higher until reaching highs of $5. Since then, AHPI stock fell back to around $2. This week, however, Allied Healthcare has seen attention reignite in the market. Since the end of last week, it has been one of the penny stocks to watch.

Like many biotech penny stocks, Allied could have benefited from the search for new, coronavirus-related names. Since the virus is essentially a respiratory illness, companies with any type of indication related to that could be of interest. Allied sells respiratory products, so obviously this could be a speculative idea when it comes to the virus. Beyond that, there hasn’t been any news directly from the company stating intentions to address coronavirus.

With speculative events like coronavirus, hype can easily factor into trading. If companies aren’t releasing news but have related business models, it may be worthwhile to practice cautious optimism at the very least. There hasn’t been news released for quite some time so it’s likely speculation alone has helped AHPI for the time being. However, a quick look at recent filings does at least show the company still conducts business. For instance, orders for the Company’s products for the six months ended December 31, 2019 came in at $15.4 million.

coronavirus penny stocks Allied Healthcare Products (AHPI)

Penny Stocks To Watch: China Pharma Holdings Inc.

One of the other penny stocks we’ve discussed recently is China Pharma Holdings Inc. (CPHI – Free Report). While the stock also consolidated similar to Allied, China Pharma has begun to climb again. Having zero news since last November, it’s clear that speculation has helped drive market momentum.

[Read More] Short List Of Penny Stocks To Watch Right Now

However, a quick look at the company website and you’ll see where speculators are focused. The company offers anti-viral and respiratory drugs. So, again this is another situation of cautious optimism. As we’ve already seen this is one of the penny stocks that can jump quickly.

However, we’ve already seen that as quick as the jump comes, so can the drop. So, again, be well aware of the risks of coronavirus stocks that haven’t reported news during this niche move. All the same, however, is that CPHI stock has managed to rally 17% since last Thursday.

coronavirus penny stocks to watch China Pharma Holdings (CPHI)

Penny Stocks To Watch: Aclaris Therapeutics

While this isn’t a coronavirus penny stocks, it is a biotech company that has grabbed attention recently. Aclaris Therapeutics (ACRS – Free Report) could be on penny stocks watch lists this week. Shares have slowly and quietly climbed over the last few sessions. This all came to a head, on Tuesday afternoon.

Aclaris announced Q4 and full-year 2019 results along with business highlights from the year. The company was able to beat analyst estimates on earnings per share and sees enough funds on hand through Q3 of next year. “In 2019, we repositioned the company to focus on our core competency in developing small molecule kinase inhibitors. Thus far, we are very pleased with the progression of our immuno-inflammatory pipeline, as well as with the positive results from our Phase 1 clinical trial of ATI-450, an oral small molecule MK2 inhibitor,” said Dr. Neal Walker, President and Chief Executive Officer of Aclaris.

Prior to this, Aclaris came out with positive results from its ATI-450-PKPD-101 trial data. In Phase 1 clinical trials, the treatment showed no serious or adverse events. Aclaris intends to begin the first Phase 2 trial in rheumatoid arthritis patients during the first half of the year. The company also presents this week at the SVB Leerink 9th Annual Global Healthcare Conference on Thursday, February 27, 2020. Will these latest developments help shift the glaring bearish trend that’s been at play since January?

penny stocks to watch Aclaris Therapeutics (ACRS)

Disclaimer

Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Click for full disclaimer.


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