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3 Penny Stocks To Watch Right Now

Putting your money into penny stocks can be exciting and scary at the same time. Exciting because penny stocks offer high potential for large gains. Scary because these high flying penny stocks are also highly risky too. But if you can handle a little bit of risk in exchange for leveraging smaller capital, then these cheap stocks might be right for you. Obviously there’s no perfect science behind picking the best penny stocks to buy. But with practice and time perfecting your strategy, trading penny stocks can come as second nature.

What are the best penny stocks to watch right now? That’s always a good question especially before embarking on a new month. As June quickly approaches, we’ll be looking for penny stocks that could show potential for momentum to continue.

Every day this month, there’ve been penny stocks that traded higher, reached new records, and turned heads after game-changing news. So, let’s take a look at a few active penny stocks to watch heading into the weekend. Will they be the best penny stocks to buy now or wait? You decide and leave us a comment below.

Penny Stocks To Watch #1: Agenus Inc.

Agenus Inc. (AGEN Stock Report) came onto our list of penny stocks to watch most recently in April. At the time, the stock was trading around $2.95 and the company just announced receipt of an FDA Fast Track designation. This was for investigation of its balstilimab to treat cervical cancer. Then earlier this month Agenus announced that two INDs were filed for AgenTus Cell Therapy for Cancer and COVID-19 indications.

A few weeks ago, Agenus announced the FDA accepted its IND application for allogeneic iNKT therapy, agenT-797 for cancer and a clinical trial’s expected to begin in the second half of 2020. While no further updates have been released on the COVID-19 indication, the company said it expects it to be “cleared shortly”. In any case, this week the company presented data at the ASCO Virtual Conference.

What To Watch With AGEN Stock

Specifically, it focused on the company’s AGEN1181 used for treating certain malignancies. Dr. Steven O’Day, Executive Director of the John Wayne Cancer Institute and Cancer Clinic discussed the treatment. “Importantly, unlike first-generation CTLA-4 antibodies, we have seen no evidence of complement-mediated toxicities, such as hypophysitis, with AGEN1181. These early data, including responses in patients with CD16 polymorphisms, support the accelerated development of AGEN1181 into multiple tumors, including PD-1 refractory melanoma, NSCLC, and others.”

This news sparked a continuation in AGEN stock. Since early April, shares have climbed by as much as 38% at Friday’s high of $3.79. Will that continue into the month ahead?

best penny stocks to watch Agenus Inc. (NASDAQ:AGEN)

Penny Stocks To Watch #2: Nabriva Therapeutics plc

Around the same time we revisited AGEN, we also discussed Nabriva Therapeutics plc (NBRV Stock Report). The company got caught up in the grouping of coronavirus penny stocks to watch as it focuses on anti-infective agents to treat serious infections. At the time, NBRV stock was gaining attention on its Twitter page with posts related to COVID-19. Nabriva tweeted that it’s “pursuing opportunities with the US gov & our partner in China to provide potential treatment options for #coronavirus patients w/suspected/confirmed community-acquired #BacterialPneumonia.”

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The company’s XENLETA is a systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia. This week NBRV stock gained more ground after the company announced another key update on its treatment. Nabriva announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending approval of XENLETA (lefamulin) for the treatment of community-acquired pneumonia (CAP).

What To Watch With NBRV Stock

Specifically, it’s in adults when it is considered inappropriate to use antibacterial agents that are commonly recommended for the initial treatment of CAP or when these have failed. The opinion will be reviewed by the European Commission. It has the authority to approve medicines for all 28 countries of the European Union, Norway, Iceland, and Liechtenstein. The company said that a regulatory decision could come during the second half of 2020.

According to the company, the European Commission will review the CHMP recommendation and typically delivers its final decision in approximately two months. Also, keep in mind that the U.S. FDA approved XENLETA in August 2019. This was for the treatment of adult patients with community-acquired bacterial pneumonia. Since April 2, NBRV has climbed over 100%. Will this trend continue in June?

best penny stocks to watch Nabriva Therapeutics (NASDAQ:NBRV)

Penny Stocks To Watch #3: Millendo Therapeutics Inc.

Millendo Therapeutics Inc. (MLND Stock Report) focuses on developing novel treatments for endocrine diseases. Unlike many of the other penny stocks out there, MLND stock has followed a more consistent uptrend for most this quarter. After hitting new 52-week lows on April 6, MLND stock has climbed as much as 101.6% as of Friday’s $2.54 high. While it hasn’t been one of the most volatile penny stocks this quarter, it has been one of the most consistent in terms of trend.

Most recently, the company reported its first-quarter operating and financial results. There were a few key points of interest to note. First, Millendo saw a better EPS loss per share. That came in at ($0.65) compared to ($0.78) from last year’s period. On top of that, the company is expecting an interim review of data in the third quarter. This is of its ongoing Phase 2b study of its nevanimibe in patients with classic congenital adrenal hyperplasia.

What To Watch With MLND Stock

Millendo also said it expects to initiate Phase 1 clinical trials for MLE-301. That could come in the second half of 2020 as well. Something else to keep in mind is that the company, like so many others is looking into strategic additions to its porfolio.

[Read More] Penny Stock Indivior PLC Climbed 1,150% In 4 Days; How?

“As we wind down activities related to the livoletide program, we have moved quickly to streamline costs and redeploy development efforts to our other portfolio programs, nevanimibe for congenital adrenal hyperplasia and MLE-301 for menopausal vasomotor symptoms. We are currently evaluating our business strategy, taking into consideration our existing pipeline assets, assessing the evolving impact of the global COVID-19 pandemic and leveraging the deep development expertise of our leadership team to investigate potential strategic additions to our portfolio,” said Julia C. Owens, President and Chief Executive Officer of Millendo Therapeutics. This week, Citigroup reinstated a Buy rating on the stock and gave a $6 price target.

best penny stocks to watch Millendo Therapeutics (NASDAQ:MLND)

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