Looking For The Best Penny Stocks To Buy Right Now?
A new year has arrived and healthcare biotech penny stocks remain red hot right now. In fact, if you look at some of the major industry benchmark ETFs, you’ll see healthcare has come within pennies of reaching new record levels in the stock market today. Obviously, one of the biggest drivers remains coronavirus pandemic. While new vaccines are being distributed, we’re also seeing new strains of the virus emerge. This is something that many of the healthcare professionals had expected to encounter early on. However, seeing is believing.
“We know that for the Moderna vaccine giving half the dose for people between the ages of 18 to 55…induces identical immune response to the 100-microgram dose.”Moncef Slaoui, the head of Operation Warp Speed
What’s more, is we’re seeing that the current vaccine market is evolving as well. As Moncef Slaoui has explained, the Moderna vaccine, for instance is effective at half the dose and offers the same immune response as the full dose in certain subjects. As more real world data rolls out, it will be important to pay attention to what companies do to expand on current platforms.
But it isn’t just about COVID-19 either. Numerous mental health, pain management, immune disease, and cancer stocks are garnering a lot of interest right now. Another example is testing. Remember when we first started discussing Bionano Genomics (BNGO Stock Report) more frequently? Diagnostic testing stocks were starting to become a focus of traders. Fast-forward to the end of December and we saw from around December 28th and right through into this week, BNGO stock exploded. With all this in mind, let’s take a look at some of the most active biotech penny stocks in the stock market today. Will they be the best to buy right now or should you wait?
Biotech Penny Stocks
- Opko Health Inc. (OPK Stock Report)
- Opgen Inc. (OPGN Stock Report)
- TransEnterix Inc. (TRXC Stock Report)
- Onconova Therapeutics Inc. (ONTX Stock Report)
Biotech Penny Stocks To Buy [or avoid] #1: Opko Health Inc.
Opko Health has been one of the top performing biotech stocks over the last year or so. Since last January, OPK stock has managed to climb nearly 200% to date. Don’t forget that it also reached highs of $6.47 back in July thanks to some COVID headlines. While the company is still in focus among coronavirus penny stocks, there are other things to keep in mind when it comes to this company in 2021.
Specifically, I’m talking about Opko’s involvement with Pfizer (PFE Stock Report). This week the two announced that the FDA accepted the initial Biologics License Application for filing for their somatrogon treatment. This is the companies’ human growth hormone for treating patients with growth hormone deficiency. Note that the global Phase 3 trial evaluating the safety and efficacy of somatrogon met its primary endpoint. Something else to remember in about 10 months is that the Prescription Drug User Fee Act (PDUFA) action date for a decision by the FDA is in October.
“If approved, somatrogon could help reduce the burden of daily growth hormone injections on children, their loved ones, and caregivers,” said Brenda Cooperstone, MD, Chief Development Officer, Rare Disease, Pfizer Global Product Development.
Biotech Penny Stocks To Buy [or avoid] #2: Opgen Inc.
Opgen continued its multi-day move on Monday. You might remember that last week we discussed the company among other hot penny stocks to watch. At the time the penny stock was trading around $1.85 but has since seen a surge in momentum that has taken it to highs of $2.43 so far this week. One of the key drivers recently has been developments with the company’s Ares Genetics subsidiary. This year saw the transition of a new CEO and Managing Director. Dr. Arne Materna took the position on January 1 and comes from a long line of senior roles at emerging biotech companies.
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Furthermore, Ares launched an early access program for its, NGS-based molecular antibiotic resistance test for comprehensive “profiling of genetic AMR markers from the native specimen by a hybrid-capture based targeted NGS assay”. These help when it comes to compiling information on antibiotic-resistant pathogens critical for clinical practices and public health initiatives.
In fact, diagnostics and testing stocks have gotten their fair share of interest over recent weeks. In this case, OPGN stock has enjoyed a strong 3-day moving into 2021. Will that continue during the rest of the first week of the month?
Biotech Penny Stocks To Buy [or avoid] #3: TransEnterix Inc.
TransEnterix is another one of the companies pushing higher on Monday. While volume has been building throughout December, January’s first day of trading saw a strong move in price. Shares of TRXC stock hit a high of $0.788 during the late-morning session and came after the company announced upcoming conference participation dates. The company will attend HC Wainwright’s BioConnect conference on the 11th as well as 2 presentations at the Westwicke /ICR Conference on the 14th.
The medical device company has been focused on minimally invasive surgery specific to its Senhance® Surgical System. We also mentioned TRXC earlier this month along with OPGN. The company’s Senhance® Surgical System is designed for minimally invasive laparoscopic surgery and most recently gained approval in the Russian Federation. It was also leased by Southern Surgical Hospital in Louisiana.
heading into the new year, something to keep tabs on is progress with the company’s FDA 510(k) filing submission from earlier in 2020. This is for general surgery indication expansion to broaden the addressable market. With all of these milestones and this recent momentum, TRXC could be one of the penny stocks to watch heading into 2021. It’s also one of the penny stocks under $1 right now, turning heads in the stock market today.
Biotech Penny Stocks To Buy [or avoid] #4: Onconova Therapeutics Inc.
Finally, Onconova Therapeutics mirrored the trend that the other stocks on this list did. ONTX stock has been climbing for the better part of the last 5 weeks. Since the end of November, shares have climbed from $0.26 to over $0.50 this week. That same time also saw the penny stock jump as high as $0.719. And if you’ve been a reader, you’ll remember when we began focusing more intently on what Onconova was doing on November 30th. In particular, we discussed Onconova’s filings and a string of Form 4 filings showing numerous insider buys.
Last month, Onconova announced that it received FDA permission to study its drug, ON 123300. This is used for treating certain types of cancer. What’s important to note is what the company’s CEO said and the milestones he gave.
“We are grateful to receive this timely, favorable response from the FDA two initiate a Phase 1 trial with ON 123300. We are advancing the process to secure institutional review board approval, and affirm our expectation that the first patient will be enrolled during the first half of 2021.”Steven Fruchtman
So will the first half of 2021 prove to be one of the most bullish periods for ONTX stock?