Penny Stocks To Watch This Month
When it comes to finding penny stocks to buy, you can look at things like industry events, corporate filings, and of course, headlines. With this, you’ve also got to consider other things going on in the market. For instance, even if an energy company’s news is amazing but the sector as a whole is getting pummeled, there’s a good chance that news won’t be a bullish catalyst that overshadows the broader sentiment.
However, if there are tailwinds like industry momentum, upbeat economic sentiment & a positive outlook from analysts, it could be a different story. In the stock market today, traders have eyes on economic data.
They’ve also placed a focus on Fed policy where Chairman Jerome Powell speaks Wednesday afternoon. The Fed’s decision is due at 2 pm EST along with the summary of economic projections. While expectations are that things stay the course, it still is unnerving for traders ahead of the decision.
Despite sentiment being mixed, it hasn’t hindered the outlook on certain stocks for some analysts. While these market watchers aren’t the ultimate determining factor in making a trade, they can offer some insight. Considering things like current and future catalysts, these analysts weigh in on certain names, and penny stocks are included. Let’s take a look at a few names that have recently released news with this in mind. They’ve also seen bullish expectations coming from analysts.
Penny Stocks To Watch:
- GT Biopharma Inc. (NASDAQ: GTBP)
- American Resources Corporation (NASDAQ: AREC)
- Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)
GT Biopharma Inc.
Shares of GT Biopharma have been on the move for the better part of the last few weeks. Thanks to a series of key milestones, it’s gone from trading under $4 to over $6. Also, the latest analyst rating from Roth Capital just shed a brighter light on GTBP stock as well. This week, the firm initiated coverage, giving a Buy rating, and announced a price target of $25.
This rating comes after GT Biopharma recently reported favorable preclinical results for its ROR1TriKE in treating prostate cancer. Earlier this month, the company reported data on its ROR1 TriKE™. It showed efficacy in promoting NK cell killing of multiple prostate cancer cells. This was meaningful enough that CEO Anthony Cataldo explained further evaluation is planned along with additional IND-enabling preclinical studies to transition to a Phase I/II clinical trial.
On the heels of this, GT Biopharma gave an interim update this week on its lead candidate, GTB-3550 TriKE clinical trial results. This is the company’s candidate for treating myelodysplastic syndromes and refractory/relapsed acute myeloid leukemia. The company said enrollment to date included 9 patients. Even at higher dose levels, all patients treated displayed no sign of any grade of cytokine release syndrome, which is a negative side effect that current platforms can trigger.
“This early data indicates GTB-3550 therapy demonstrates significant bone marrow blast level reductions in AML and MDS patients without the need for expensive progenitor-derived or autologous/allogenic cell therapies…TriKE’s ability to work in the patient without outside supplemental engineered NK cells or the need for any combination drugs, sets TriKE apart from other cancer therapies. This is also the reason why TriKE™ therapy will be significantly less expensive than other treatments, opening the door to an off-the-shelf therapeutic.”Anthony Cataldo, GT Biopharma CEO
American Resources Corporation
Electric vehicles and green energy have become two buzzwords of 2021 with momentum fueling related stocks. One of the areas of this niche that has begun gaining a bit more attention is the ecosystem outside of finished products or energy service providers. These aren’t the cars of the power companies. They’re the components that go into making the cars and generating the power.
American Resources Corporate supply raw materials to the new infrastructure and electrification marketplace. Most recently H.C. Wainwright weighed in on the stock giving it a Buy rating along with a $4.50 price target. As of this week, AREC stock closed in on that level after a few key updates. The most recent of these updates involved news that American Resources plans on building a 2kW mobile electrolytic cell rare earth processing plant. The facility will use previously acquired technology and patents from Ohio University.
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Mark Jensen, CEO of American Resources Corporation added, “Having signed this contract less than a quarter ago to finalize the acquisition of the patented technology rights, and now today being able to announce our progress to move forward with the build of the first facility, showcases our desire to move rapidly on the commercialization process. The electrolysis stage of our ‘Capture – Process – Purify’ technology process chain is a game-changer when it comes to producing low-cost environmentally safe REE concentrate.”
Tonix Pharmaceuticals Holding Corp.
Another one of the biotech penny stocks we’ve discussed frequently is Tonix Pharmaceuticals. The company has experienced a strong year overall. Even with its pullback in late February, the general trend since January 4th is a bullish one. This week the company reported its Q4 and full-year 2020 results. EPS was up significantly from a year-ago period. Tonix reported a loss per share of 10 cents, which was much better than its loss per share of $2.86. Though its net loss widened, the market appeared to receive the details in stride.
Seth Lederman, M.D., President, and Chief Executive Officer, explained, “In 2021, we expect to deliver on several important milestones. Following on the success of our first pivotal Phase 3 fibromyalgia study, RELIEF, we look forward to reporting interim and topline data from a second potentially pivotal Phase 3 fibromyalgia study, RALLY, this year. We recently reported that we achieved enrollment of the first 50 percent of participants in RALLY, which we expect will be the interim analysis cohort. We also expect to report preclinical efficacy data from our COVID-19 vaccine candidate this quarter and start a Phase 1 study in humans in the second half of this year.”
A report on Wednesday gave efficacy results from its COVID-19 vaccine treatment, TNX-1800. Eight animals were vaccinated with TNX-1800. They had undetectable SARS-CoV-2 in their upper and lower airways 6 days after challenge with SARS-CoV-2. With this data, Tonix now plans to advance TNX-1800 to a human Phase 1 trial later this year. Right now, analysts at Alliance Global have a Buy on the stock along with a $4 price target.