best biotech penny stocks to buy watch

These Biotech Penny Stocks Pushed higher On Monday; 2 Up Over 115% YTD

When the markets are volatile, many turn to penny stocks as an option. These stocks under $5 are generally volatile on their own accord. Many are also less impacted by broader market moves. Just look at one of the former penny stocks we had on our radar this month, Cassava Sciences (SAVA Stock Report). While the market was taking a beating, SAVA stock nearly re-tested its September highs.

Furthermore, shares continued even highs after hours with SAVA hitting $11.94 after the closing bell. What’s more, and this brings me to the focus of this article, is that biotech penny stocks have been hot this year. In this example, SAVA was one of the penny stocks to watch at the start of the month. It was trading just over $3 at the time. A bit of good news and, now, reports of insider buying have culminated into a monster run in September.

The great part about this is the move in SAVA isn’t an isolated incident either. There’ve been plenty of biotech penny stocks skyrocketing this year. Where the initial push came from speculation stemming from coronavirus treatments, the focus now is on things like oncology in treatments for diseases without proven drug therapies. Call it what you will, but I think traders who’ve dug into the biotech space initially came for the COVID, then figured out there’s far more to this industry than coronavirus treatments.

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However, if biotech is of interest, you should also understand that this is a very high-risk sector too. As you’ll see in this list of penny stocks, some things can trigger a massive move (in both directions) for biotech penny stocks. Due to their “early-stage” nature, the not only present great potential but also pose their own set of risks as well. With this in mind, are any of these on your penny stocks list of biotech names to buy?

Penny Stocks To Buy [or avoid]: Akebia Therapeutics Inc.

Remember what I said above about high-risk scenarios from biotech penny stocks? Akebia Therapeutics Inc. (AKBA Stock Report) is a shining example. The now, penny stock dropped in a major way earlier this month. In fact, one of the main reasons you’ve probably not heard of AKBA stock before this month is because shares were trading above $10 for most of the year.

The initial drop came after the company announced top-line results from its PRO2TECT phase 3 program. This was the second of its 2 global cardiovascular outcomes programs designed to evaluate the efficacy and safety of its vadadustat; Akebia’s investigational anemia treatment. The big miss came from not meeting the safety MACE endpoint. Despite this, however, the company’s management remained upbeat.

“While achieving the MACE endpoint would have made our path here more straightforward, as it is in dialysis, we still believe we have a path toward approval for vadadustat in non-dialysis.”

John P. Butler, President and CEO of Akebia

While there haven’t been any recent updates, AKBA stock has picked up in trading volume over the last 3 sessions. Furthermore, the penny stock surged during aftermarket trading on Monday. It reached highs of $2.90 before the close of after-hours trading on September 21st.

penny stocks to buy biotech Akebia Therapeutics Inc. (AKBA stock chart)

Penny Stocks To Buy [or avoid]: OPKO Health Inc.

Now let’s talk about OPKO Health Inc. (OPK Stock Report). OPKO Health is a heathcare company that does business in diagnostics and pharmaceuticals. The company operates in many places internationally. It operates BioReference Laboratories, and much more. Recently OPK announced that is initiated a phase II study called REsCue to look at its vitamin D3 analog drug RAYALDEE as a potential COVID-19 treatment.

This study will watch a four-week treatment regimen of the drug in 160 patients. Patients will get 300mcg per day on the first few days of treatment, and then 60mcg per day for the rest of the period. The goal is to resolve a lot of COVID-19 symptoms. The first subjects are expected to be enrolled within the next few weeks. Furthermore, OPKO expects to report topline results from this Phase 2 trial before the year-end.

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While there are many candidates for a coronavirus treatment, investors seem to be interested in this company. In 2020, OPK stock price is up more than 117% thanks to its advancements so far. It will be interesting to see how future advancements from OPKO Health will impact the market in the months ahead.

penny stocks to buy biotech OPKO Health Inc. (OPK stock chart)

Penny Stocks To Buy [or avoid]: Trevena Inc.

Trevena Inc. (TRVN Stock Report) is another big mover this year. Shares have now rallied, year-to-date, 220% as of Monday’s closing bell. It too continued higher after the bell reaching $2.72. This was just 7 cents shy of its Monday HOD. The company announced three presentations at the virtual 2020 American College of Clinical Pharmacology Annual Meeting.

It’s set to take place from September 21st to 23rd. Trevena presents on its TRV027 being studied as a potential treatment for ARDS in COVID-19 patients. While this has excited the market at the top of the week, TRVN stock has been climbing for weeks now. We’ve followed this company since June 2nd after Trevena began collaborating with Imperial College London. The collab would see them evaluate the treatment potential of TRV027 for acute lung injury in COVID patients. However, the most recent focus has been on the company’s non-COVID pipeline.

As we discussed this weekend, TRVN stock has been hitting the market on multiple angles; not just COVID. Trevena began reporting key milestones from its OLINVYK injection for pain management. The company confirmed FDA approval for the treatment. OLINVYK injection is for pain management. Furthermore, 2 publications highlighted data showing an improved respiratory safety profile for OLINVYK compared to IV morphine.

In addition, last week analysts at Guggenheim initiated coverage on Trevena. The firm gave a Buy rating and announced a price target of $5. This came a few weeks after Cantor Fitzgerald started covering Trevena giving it an initial Overweight rating and $5 price target.

penny stocks to buy biotech Trevena Inc. (TRVN stock chart)

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