3 Penny Stocks to Watch in December 2021
If you’re making a list of the best penny stocks to buy, there are hundreds of options to choose from. Before beginning to make a penny stocks watchlist, it’s best to understand what’s going on in the market. Right now, the largest impacting factor on the stock market is the Omicron variant. As a result of the large uptick in case numbers, many investors are fearful about the near and distant future.
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One thing to consider is that the variant is less severe than others so far, although its transmissibility is much higher. This has caused a sizable amount of uncertainty, and therefore, high market volatility. Because of this, we are seeing both penny stocks and blue chips jump and fall in significant numbers in the course of a given trading day. So, what does this mean for those who invest in penny stocks?
For starters, traders need to understand which industries are being impacted by the variant. At the top, we have reopening penny stocks or those in the entertainment industry. These are the first to be hit and therefore the most volatile. On the inverse, we have biotech stocks, which tend to rise when news hits about the pandemic. So, considering all of this, let’s take a look at three penny stocks to add to your December 2021 watchlist.
3 Penny Stocks to Add to Your December 2021 Watchlist
- Heartbeam Inc. (NASDAQ: BEAT)
- BioDelivery Sciences International Inc. (NASDAQ: BDSI)
- Opko Health Inc. (NASDAQ: OPK)
Heartbeam Inc. (NASDAQ: BEAT)
One of the bigger gainers of the day so far is Heartbeam Inc., which managed to climb by around 17% by EOD on December 20th. While many large gains like this occur without news, an exciting announcement hit the market during midday. The company announced that it has developed a heart attack detection technology that could be used in everything from remote monitoring to emergency departments and more.
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The research group, Benchmark, states that this could be a potential $10 billion total addressable market. This is major news, and resulted in Benchmark offering a buy rating alongside a $9 price target for the company. While BEAT stock only began trading on public markets in mid-November, it has since garnered a sizable amount of attention. And, it recently reported its Q3 2021 financial results. In the results, the company stated that it sold roughly 2.75 million notes at a price of $6 per unit. This resulted in almost $15 million being raised for the company.
“The third quarter of 2021 was a significant milestone for our company with our transition to a public company and the addition of new capital to accelerate our commercialization path.”
The CEO of Heartbeam, Branislav Vajdic, Ph.D.
So, with this in mind, does BEAT stock deserve a spot on your list of penny stocks to watch?
BioDelivery Sciences International Inc. (NASDAQ: BDSI)
Another major gainer of the day on December 20th is BDSI stock, pushing up by over 28% at midday. This comes as the company reported a court hearing that resulted in the validity of patents linked to its FDA-approved painkiller known as Belbuca. Today’s announcement is big news as the company has been in this battle for many years at this point. Aside from this, the most recent news from BDSI stock came on November 3rd, when it announced its Q3 2021 financial report. In the results, the company posted a 4% gain in total net revenue over the previous year, coming in at roughly $41.1 million. In addition, it showed profitability with a GAAP EPS of $0.07 and an EBITDA margin of 27%.
“Sales of BELBUCA and Symproic remain solid as we prepare for additional revenue growth associated with the launch of ELYXYB in the first quarter of 2022. ELYXYB, with patent protection to 2036, diversifies our portfolio, takes advantage of the synergies between pain and neurology, and leverages our current commercial infrastructure to manage ELYXYB in a very efficient way.”
The CEO of BDSI, Jeff Bailey
This is all very exciting news for the company and could show positivity surrounding its future. Whether this makes it worth adding to your watchlist or not is up to you.
Opko Health Inc. (NASDAQ: OPK)
While OPK stock’s gain of around 1% by EOD on December 20th is nothing to write home about, its five-day gain of over 16% is intriguing. If you’re unfamiliar, OPK is a biotech company working in the field of diagnostics. With its subsidiary, BioReference Laboratories, the company provides a large range of testing products. This includes everything from oncology and urology to Covid testing and more.
Recently, the company received acclaim for its 4Kscore test, which was given the nod for use in men over the age of 45. This test searches for prostate cancer and offers a numerical value that can determine whether a prostate biopsy is necessary or not. To date, this product has been used by more than 7,700 health care providers which includes more than 4,200 urologists. The company also states that the prostate cancer market could be worth north of $9.9 billion by the year 2026.
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This represents a CAGR of 4.6% from 2019 to 2026. As mentioned previously, Opko is also a popular choice right now for those looking at Covid-related stocks. The company produces a large range of Covid-19 testing methods and could see more attention due to the rise of the Omicron variant. While it is too soon to say what the long-term effects of this will be, it is without a doubt, an exciting prospect. Considering this, is OPK stock worth buying right now?
Which Penny Stocks Are on Your List in 2021?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. As a result of the massive volume occurring in the stock market right now, investors continue to look for value where it can be found. Considering all of this, which penny stocks are on your watchlist as 2021 comes to an end?
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