4 Penny Stocks To Watch Heading Into December 2020
Call them penny stocks, call them micro- or small cap stocks, whichever the nomenclature, the attraction is still the same. People look to trade penny stocks because of their ability to move quickly and produce huge gains. We saw that, first-hand this morning. In one of our premarket articles, a writer discussed Ever-Glory International Group Inc. (EVK Stock Report). At the time, the penny stock was still under $5 and closed its previous session at $3.75 during after-hours trading. As many of us saw today after the article published, EVK stock was still trading around $4.60.
However, since then the (former) penny stock rallied to highs of $8.30 during Thursday’s session. While a lot of this move may have been due to speculation, the facts are still the same. Quite literally overnight, EVK stock more than doubled and so did the positions of anyone holding shares at those prices. Now, is the EVK stock forecast still showing buy signals? I’ll leave that up to you to decide for yourself. There wasn’t any news to accompany the move nor were there any filings to suggest a fundamental catalyst.
- Are Travel Stocks On Your List In December? 3 Penny Stocks To Watch
- 4 Top Penny Stocks To Watch This Week; 2 With 240%+ Price Targets
Whether or not the trend continues is secondary for those looking to capitalize on quick moves in price. EVK is just one example. But this isn’t to say that all penny stocks perform like this. In fact, some have even presented the potential for longer-term uptrends. While they aren’t as exciting as stocks like EVK, they have returned some significant gains to investors this year. Will any of these 4 follow suit?
Penny Stocks To Watch #1: Verastem Inc.
Verastem Inc. (VSTM Stock Report) has been a runner for a few weeks now. I won’t get into a history lesson on the chart. But I will say that since the beginning of November, VSTM stock has been one to watch. In our article, “5 Interesting Biotech Penny Stocks to Watch Before Next Week” we highlighted a few milestones reached. Since then, VSTM stock has managed to climb over 80% so far. Is it one of the penny stocks to watch right now?
December has certainly been a strong month so far and we’re only 3 days in. Yet, VSTM stock has continued climbing. Much of the recent excitement has originated from the company’s initiation of Phase 2 trials for its VS-6766 and defactinib. The trials are targeting patients with recurrent low-grade serous ovarian cancer – LGSOC.
Pending the trial outcome, Verastem said it will seek FDA accelerated approval if things proved fruitful. Prior data from a Phase 1/2 trial showed response rates and safety profiles that were favorable. A Phase 1 trial published in The Lancet Oncology, showed that VS-6766 could be effective against a range of KRAS-mutated tumor types. These included lung and gynecological cancers. A Phase 1/2 trial presented at the American Association for Cancer Research Annual Meeting 2020, showed the combination of a RAF/MEK and FAK inhibitor could be beneficial for patients with KRAS mutant LGSOC
Penny Stocks To Watch #2: Sunworks Inc.
Similar to Verastem, Sunworks Inc. (SUNW Stock Report) has also been one to watch recently. After spiking big in September, the solar penny stock reset, established new, higher support, and traded sideways throughout most of October. Thanks to the excitement around a potentially new President’s support of green energy and a trend in alternative energy (including EV penny stocks), SUNW stock has been more active.
One of the big points of focus was a proposed merger with another solar company, The Peck Company. Long story short, the deal didn’t go through and after that update, SUNW stock began trading even higher. The company’s sales pipeline from Q3 in addition to its positioning for 2021 has helped boost sentiment for Sunworks.
For the most part, it seems that sector momentum has helped drive the price of SUNW recently. Renewed excitement stemming from vaccine hopes is also helping push energy stocks this month. The biggest question is, will it continue?
Penny Stocks To Watch #3: Evogene Ltd.
Evogene Ltd. (EVGN Stock Report) continues to extend its recent bull trend. On Thursday shares hit highs of over $3.60 for the third day in a row. Cantor Fitzgerald recently initiated coverage on the biotech penny stock. The firm gave an Overweight rating as well as a $9 price target.
The company had recently finished 2 rounds of capital raising totalling $22 million to put toward the company’s development plan. The company has several key brands and subsidiaries that it has built. One of which is its Canonic subsidiary focusing on cannabis product. Last month, Canonic received an IMC-GAP approval from the Israel Medical Cannabis Agency for the commercial operation of its propagation farm. This allows Canonic to move forward with its commercialization plan of medical cannabis products. With the heightened awareness surrounding marijuana stocks right now, EVGN could be on the radar. This week the MORE Act is set for a vote that could become a catalyst (negative or positive) for names within the space.
Regardless of the outcome, Evogene also has plenty of other things in its pipeline. It’s Biomica subsidiary, for example, recently announced positive pre-clinical, in-vivo results, for its leading product candidate, live bacterial product (LBP) BMC128. It consists of four live bacterial strains aimed to enhance the efficacy of immunotherapy. These results demonstrated that treatment with BMC128, both prior to and in combination with ICI, significantly improved anti-tumor activity in mice.
Penny Stocks To Watch #4: Baudax Bio Inc.
Baudax Bio Inc. (BXRX Stock Report) jumped during Thursday’s session to highs of $1.28. It also saw some of its highest volume of the fourth quarter. While no news accompanied the move, BXRX stock did end up testing levels not seen since October. One of the things to keep in mind is that Baudax recently raised $12 million mainly for or the commercialization of ANJESO® and pipeline development activities among other things.
ANJESO® is the company’s pain management treatment for pain relief in abdominoplasty, bunionectomy and hysterectomy. It was recently launched in the U.S. and is indicated for the management of moderate to severe pain, alone or in combination with other non-NSAID analgesics.
“As the only intravenous IV NSAID that lasts up to 24 hours, ANJESO has an equal or better safety profile than that of other IV non-opioids, and benefits patients by reducing their opioid consumption post-surgery. The results of this meta-analysis add to the growing body of data supporting our ongoing ANJESO commercial launch efforts.”Stewart McCallum, M.D., F.A.C.S., Chief Medical Officer of Baudax Bio
This week the company participated in the Piper Sandler 32nd Annual Virtual Healthcare Conference. Could this have been a catalyst for this week’s activity?