Will March Continue to be Bullish For These Penny Stocks?

So far in March, certain penny stocks have seen some big bullish interest. On March 9th, the NASDAQ rallied up by around 4% during intraday trading. These gains were led by tech, as a large rebound occurred following a market correction over the past few weeks. Shares of Tesla (NASDAQ: TSLA) and Apple (NASDAQ: AAPL) were up by around 15% and 4% respectively.

Furthermore, the DOW hit an all-time high during intraday trading. This obviously isn’t a sign that we are out of the woods yet. But it is definitely encouraging. Courtney Dominguez, a market analyst, stated that “this is a trend that tends to happen as we get out of a recession: You tend to see stocks move towards cyclicals. So things like value companies or small caps, things like energy, tend to do really well when you’re coming out of a recession.”

[Read More] 5 Hot Penny Stocks To Buy Under $1 In March 2021

Something else to consider, millions of Americans could receive stimulus money to the tune of $1,400, depending on how they file taxes. Families could ultimately receive more depending on the number of children accounted for as well. While some will turn and use these funds to pay for monthly bills, as we saw with the last round of stimulus, others will look to invest it. Now, I’m not here to advocate for or against this as it’s totally up to you.

Penny Stocks To Buy [or avoid]

But if history repeats itself, there’s a chance we see traders taking advantage of the government funds to put fresh cash in their brokerage accounts. Which will be the best penny stocks to buy with newfound money? I’ll leave that one up to you as well, but here are a few trending names in the stock market today. Will they be the best penny stocks to buy, or should you avoid them entirely?

  1. Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP
  2. Artelo Biosciences Inc. (NASDAQ: ARTL
  3. Asensus Surgical Inc. (NYSE: ASXC)
  4. Biolase Inc. (NASDAQ: BIOL)

Penny Stocks To Buy [or avoid] #1: Tonix Pharmaceuticals Holding Corp. 

One of the more consistent gainers that we’ve seen in the past few months is TNXP stock. Tonix has released some exciting news over the past few months regarding its financials and the substances in its pipeline. In January, Tonix engaged in a $40 million sale of 50 million shares of its common stock. Only a month later, the company raised an additional $70 million.

This is quite common in the biotech industry, as capital is the main source of innovation. On March 9th, Tonix announced that it is developing a skin test to identify Covid-19 patients. The test is similar to the Tuberculosis skin test except, it tests for sensitivity to the SARS-Cov-2 virus. Also, the company continues to work on its vaccine candidate for Covid, known as TNX-1800. This is a modified horsepox virus vaccine that could be put to use in preventing covid infection. 

In its immunology pipeline are several other compounds of interest. This includes TNX-1700, a substance for use with gastric and pancreatic cancers, and TNX-1500 for autoimmune disorders. Tonix is also working on several treatments for CNS disorders, including TNX-102SL, which can treat everything from PTSD to cocaine overdoses and more.

As you can see, Tonix has one of the largest pipelines of many similar biotech penny stocks. This means that it could be on the right track to continue the process of commercialization in the future. While it still has to go through the approval processes with each substance, its large pipeline could make TNXP a penny stock to watch

Biotech Penny Stocks to Watch Tonix Pharmaceuticals Holding Corp

#2: Artelo Biosciences Inc.

Another intriguing biotech penny stock is Artelo Biosciences Inc. Based in California, Artelo is a producer and developer of proprietary therapeutics that can treat various illnesses. It is currently working on utilizing lipid signaling pathways which include the endocannabinoid system. In its product pipeline are compounds that treat everything from PTSD and inflammation to anorexia and cancer.

On March 9th, Artelo announced the appointment of Tamara Seymour to its board of directors. Connie Matsui, Chair of the Board, stated that “we are pleased to welcome Tamara to Artelo’s board of directors. Tamara brings with her an impressive track record in corporate finance and capital markets, as well as extensive experience guiding biopharmaceutical and diagnostic companies from clinical-stage to commercialization.” 

A few weeks ago, the company posted positive pre-clinical data regarding its proprietary CBD-based compound known as ART12.11. Gregory Gorgas, CEO of Artelo, stated that “we are highly encouraged by the results of this preclinical research and look forward to reporting the full results at a future scientific conference. The study observed enhanced effects between CBD and TMP, versus either compound alone, reinforcing our confidence in the potential for enhanced efficacy of our proprietary CBD cocrystal.”

While it isn’t technically a marijuana stock, its work on CBD-related compounds puts it into the ancillary cannabis industry. With the bullish interest in marijuana stocks seen this year, ARTL could be a penny stock to watch. 

Biotech Penny Stocks to Watch Artelo Biosciences Inc ARTL Stock

#3: Asensus Surgical Inc. 

Asensus Surgical (formerly known as TransEnterix Inc.) is a medical device producer focused on Performance Guided Surgery. This month the company finalized its name change as well as its ticker symbol shift to ASXC. Its product pipeline hosts a large range of proprietary tools used by surgeons, including its Senhance Surgical System, which utilizes its Intelligent Surgical Unit or ISU.

[Read More] 5 Penny Stocks To Buy Under $3 Right Now Up Big In 2021

This system allows augmented intelligence and deep learning to be utilized in common surgical procedures. This includes digital laparoscopy. Its tools can help make surgeries more precise and less invasive by offering an easier and more effective surgical method. Ahead of the March 11th release of its Q4 2020 financial data, let’s take a closer look at what Asensus has been up to. 

A few days ago, Asensus announced that it had received an additional FDA clearance for its Senhance Surgical System. This clearance allows the system to be in use in a more general surgical setting. Anthony Fernando, CEO of Asensus, stated that “the expansion into general surgery for the Senhance Surgical System is a major milestone for the growth and clinical applicability of our technology. General surgery is, by far, the largest area of manual laparoscopy, which can benefit from the precision and insight of Performance-Guided-Surgery.

The Senhance Surgical System has potential for use in over 2.7 million general surgical procedures performed in the U.S. annually. Since its name change, ASXC has seen heightened awareness from investors.

Biotech Penny Stocks to Watch Asensus Surgical Inc ASXC Stock Chart

#4: Biolase Inc.

Biolase produces dental lasers for use in various dental applications. Its laser products hold over 271 patented and 40 patent-pending technologies. This goes to show the commitment that Biolase Inc. has to innovation. Also, these patents allow it to be one of the most advanced laser dental systems on the open market.

At the end of last year, Biolase had sold more than 41,200 laser systems to over 80 countries worldwide. On March 9th, BIOL shares climbed slightly on the announcement that the European Patent Office may give a specification to its Dual Pulse-Width Medical Laser With Presets. This is yet another chance that the company has in patenting a groundbreaking technological product. 

Only a few weeks ago, Biolase announced the closing of a $14.4 million bought deal offering. Worth around 14 million shares of common stock, CEO Todd Norbe stated that “this latest offering has bolstered our cash to over $40 million and provides us with the necessary resources to execute the Biolase growth strategy.”

Biotech Penny Stocks to Watch Biolase Inc BIOL Stock Chart

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top 5 Penny Stocks On Robinhood To Watch For September 2020

Are These Penny Stocks On Your September Watch List?