penny stocks to watch right now

Are These On Your Penny Stocks Watch List In April?

Whether you passively invest in the market or actively day trade penny stocks and large-caps, the goal is the same: make money. While businesses go public to raise money by giving up ownership of small pieces of their companies, investors want to see their investments grow. The particularly interesting thing about penny stocks is that sometimes “growth” can take some time. But due to the nature of micro-cap and small-cap stocks, the price appreciation in the market can grow just based on “potential”.

[Read More] The Biggest Market Opportunity Of 2020: Coronavirus

This is where the price you pay for penny stocks comes into play. It’s also where the risk you take becomes evident; here’s what I mean. If you’re looking for penny stocks to buy, most people are trying to find names with momentum or at least some type of catalyst. The reason behind it is simple, lower-priced stocks with momentum typically move higher.

In turn, because penny stocks only need to move up slightly for significant percentage gains, the better the catalyst, the higher the likelihood of a bigger move. Sometimes this can come from a company directly and other times it can come from an industry, sector, or the entire market.

So far the penny stocks in 2020 that have moved the most have something to do with coronavirus. Initially, it was only companies that dealt with a vaccine. But now, with the state of the economy, we’ve started to see side effects of COVID-19 influence other industries’ stocks. Whether its gold penny stocks or shipping penny stocks, delivery stocks, or energy stocks, coronavirus has made an impact. So with this in mind, it might not be a bad idea to put together a list of penny stocks to watch.

Penny Stocks To Watch: Algernon Pharmaceuticals

Since the beginning of March, Algernon Pharmaceuticals (AGNPF Free Report) (AGN) has been on the move. Shares initially jumped on March 6th after the company announced the potential of its Ifenprodil treatment as an applicable solution for COVID-19.

An independent study published by the American Society of Microbiology in mSystems showed the treament could hold promise. The study found that Ifenprodil significantly reduced acute lung injury and improved survivability in an animal study with H5N1 infected mice. H5N1 is the most lethal form of influenza known to date with an over 50% mortality rate.

Earlier this month Algernon received positive feedback from the U.S. FDA. This was regarding its plans to reformulate its repurposed drug NP-120 (Ifenprodil) into a new intravenous product. On Wednesday, the company reported more progress and announced the submission of a Clinical Trial Application to Health Canada. This is for a COVID-19 Phase 2b/3 trial of NP-120 (Ifenprodil).

“We are very excited about having the potential opportunity to transition this Ifenprodil COVID-19 trial into a Phase 3 study based on positive preliminary data,” said Christopher J. Moreau CEO of Algernon. “Pending approval, we would be included with only a small handful of companies globally working with a potential drug treatment at a Phase 3 level on this disease.”

best penny stocks to watch Algernon Pharmaceuticals (AGNPF) (AGN)

Penny Stocks To Watch: SAExploration

Shares of SAExploration (SAEX Stock Report) started to climb higher during late evening trading on Tuesday. It came as a number of oil and gas-related companies were actually trading higher. If you remember, earlier this week we saw WTI crude prices actually go negative.

But there were actually some diamonds in the rough when it came to oil and gas penny stocks. Many of those were related to either shipping, storage, or field services. Yesterday, we even saw a higher-priced tanker stock breakout more than 500% within the matter of an hour based on simple speculation.

SAE is an international oilfield services company. It offers a range of vertically-integrated seismic data acquisition, data processing and interpretation, and logistical support services. SAEX stock has jumped after its latest announcement on April 21. The company reported that it was awarded a new land seismic acquisition contract in Greece.

[Read More] Top Penny Stocks To Watch This Week; 1 Up 116% In April 2020

While the project is set to begin after COVID-19 restrictions are lifted, it doesn’t negate the size o the deal. According to SAExploration, this contract has a value of roughly $27 million.

best penny stocks to watch SAExploration (SAEX)

Penny Stocks To Watch: Cocrystal Pharma

Cocrystal Pharma Inc. (COCP Stock Report) has been one of the coronavirus penny stocks to watch this year. This came as the company initially reported that it entered into a license agreement with Kansas State University Research Foundation to develop antiviral compounds for norovirus and coronavirus. Over the last 2 months, COCP stock has rallied as high as $2.50. After pulling back in mid-March, COCP began climbing again on new progress.

This week, shares are back up once again after the company’s latest announcement. Cocrystal Pharma announced the expansion of its agreement with Kansas State to include rights to more preclinical leads. The goal is to further develop certain proprietary broad-spectrum antiviral compounds to treat coronavirus infections.

“We are pleased to be expanding our agreement with KSURF as we move forward with our ongoing COVID-19 development program. The additional compounds from this new license agreement represent a class of compounds called protease inhibitors to potentially treat COVID-19. The compounds are in a preclinical stage and have a novel mechanism of action that we believe could play an important role in treating this devastating disease,” commented Dr. Gary Wilcox , Chairman and Chief Executive Officer of Cocrystal.

best penny stocks to watch Cocrystal Pharma (COCP)
penny stocks disclaimer Algernon Pharmaceuticals (AGN)(AGNPF)

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