Are These On Your List Of Penny Stocks To Watch Right Now?
What are some top penny stocks to watch for December 2020? Many traders are focusing on healthcare, biotech, and many of the epicenter penny stocks. In general, these are companies that are either working toward an unmet healthcare need or could benefit from advancements in coronavirus vaccines. December has gotten off to a strong start, this is true. However, Wednesday’s session has brought a slight pause to the winter rally we’ve seen recently. While the S&P turned slightly green by lunch, the Dow was still fighting to remain above steady with its prior day’s gains.
News from Pfizer (PFE Stock Report) and Biontech (BNTX Stock Report) helped give markets a boost early on. This saw stocks recover from premarket lows. The U.K. approved the companies’ Covid-19 vaccine. The expected rollout is set to begin next week. The elderly and medical workers will be among the first in line to receive the vaccine. This has, more or less, cleared a reasonable path forward for other countries to follow.
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BioNTech CEO Uğur Şahin told NBC News’ Richard Engel that he was “confident that an authorization in the U.S. could also happen within the next two weeks.” This has brought about cautious optimism among traders right now. And while there are plenty of headwinds going into 2021, the first hurdle is finding out when a viable vaccine will be available. Now that this is potentially staring us in the face, it could be time to follow some penny stocks benefiting from vaccine optimism.
Penny Stocks To Watch For December 2020
- Havn Life Sciences (HAVLF Stock Report)
- Opko Health Inc. (OPK Stock Report)
- Verastem Inc. (VSTM Stock Report)
- Elys Game Technology Corp. (ELYS Stock Report)
- Solid Biosciences (SLDB Stock Report)
Penny Stocks To Watch For December 2020 #1: Havn Life Sciences
Havn Life Sciences is one of the companies in the emerging psychedelic stock arena. Unlike many of the names in this space, Havn has built a team of notable names that have previous leadership success in another industry: cannabis. Some of the original trailblazers that helped build early growth in marijuana stocks are now focusing on a new frontier in psychedelics.
Most notably, former Aphria CEO, Vic Neufeld sits as the executive chairman of the company. During his time at Aphria, he was highly regarded for building the company into a multi-million dollar industry-leading organization by the time he retired. Aphria’s market cap increased by thousands of percentage points as well. He’s now picked back up and taken a focus in the latest sector to echo a similar tone as cannabis: magic mushrooms.
This week, the company announced it has become a voting member of the Conservative Drug Policy Reform Group. The director of research for the Group, David King joined the Havn Life advisory board. Why’s this important? The Group amasses key data from numerous sources for the benefit of drug policy-making. Furthermore, the group launched a campaign to reschedule psilocybin in the UK. Since Havn is part of this, it could give the company a first-hand look at upcoming policy allowing it to effectively position to benefit from any new initiatives involving psychedelic products.
Penny Stocks To Watch For December 2020 #2: Opko Health Inc.
Opko Health has been one of the top-performing biotech penny stocks to watch in the fourth quarter. Since the end of September, OPK stock has climbed from $3.10 to as high as $4.76. It also continues testing the $4.70 area in December. While this has been a relatively consistent level of resistance, volume is also picking up, which could be an important indicator for some traders.
Most recently the company has been in the spotlight for its potential treatment, Rayaldee, to target COVID. In fact, one of its larger shareholders, Sian Capital urged Opko to begin selling the kidney disease drug in the U.S. and Europe. Sian Capital said Rayaldee could not only save countless lives but bring in “tremendous” revenue to the company. Rayaldee has been proven effective in raising Vitamin D levels which can help fight the coronavirus, said the asset manager.
They have urged Opko to act swiftly to distribute Rayaldee across the U.S. and Europe. Sian’s gone as far as holding conversations with members of the US Congress. Given the current rush to companies like Pfizer and Moderna, it will be interesting to see if Opko takes up this strategy. In the meantime, OPK stock continues trending higher in early December.
Penny Stocks To Watch For December 2020 #3: Verastem Inc.
Verastem Inc. has also experienced a strong move during the 4th quarter. Since the beginning of October, VSTM stock has climbed from $1.22 to highs of $2.18 during the first week of December. We’ve discussed the company several times over the last few months as Verastem focused on advancing its pipeline treatments. What’s also important to note is that the company’s recent earnings revealed some important details on key initiatives.
Brian Stuglik, Chief Executive Officer of Verastem Oncology explained, “Looking ahead to the remainder of the year, we remain on track to commence two new company-sponsored, registration-directed Phase 2 clinical trials by year end, one in low-grade serous ovarian cancer (LGSOC) and one in KRAS mutant non-small cell lung cancer (NSCLC).”
The company also gave Phase trial updates late last month. Verastem started a Phase 2 registration-directed trial of its VS-6766 and defactinib in ovarian cancer patients. The important thing to note here is the pending the trial outcome. Verastem said it will seek FDA accelerated approval if things unfold the way they expect. Prior data from a Phase 1/2 trial showed response rates and safety profiles that were favorable.
Penny Stocks To Watch For December 2020 #4: Elys Game Technology Corp.
Elys Game Technology is a company we just began following this month. After going public, shares have managed to climb from around $1.50 to highs this week of $2.93. With the rise of interest in things like online gaming and gambling, companies like Elys are gaining interest among traders.
This week’s earnings update from the company helped boost sentiment in the market. Web-based gaming turnover increases 154% versus same period last year. Mike Ciavarella, Chairman and CEO of Elys Game Technology, Corp., commented, “I am pleased to report that revenue increased 44% to $9.7 million for the third quarter of 2020, which reflects very strong growth in our web-based gaming turnover of more than 150%. Significantly, we have now surpassed our goal of reaching 100,000 online gaming accounts before the end of 2020, thus strengthening our online and mobile channel.”
Elys is a gaming technology company that operates in multiple countries. Elys offers its clients a full suite of leisure gaming products and services. This includes sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games, and slots.
Penny Stocks To Watch For December 2020 #5: Solid Biosciences
December has seen Solid Biosciences follow suit of some of the penny stocks on this list. Shares have climbed from $3.15 on November 30th to highs of over $3.90 on Wednesday.
If SLDB stock sound familiar it may have been one of the names on your list of penny stocks from October. SLDB jumped from under $2 to over $6 thanks to news that the FDA lifted a clinical hold placed on the company’s IGNITE DMD Phase I/II clinical trial for Solid’s SGT-001 in patients with Duchenne. Back in July, the FDA requested further manufacturing information and updated data on patients dosed.
Solid Biosciences is completing the activities necessary to resume dosing, which it expects will occur in the first quarter of next year. Furthermore, the company also has a collaboration agreement in place with Ultragenyx. This ultimately creates opportunities to develop additional gene therapies for Duchene muscular dystrophy. Heading into 2021, it will be interesting to see if there are further developments in relation to its IGNITE trial and if any further progress is made with Ultragenyx.