Biotech penny stocks have almost always had a major following among investors, and even though the markets are volatile at the moment, these stocks are being followed closely. Penny stocks give investors an opportunity to make substantial gains within a short period of time.
However, in order to pick the right stocks, one needs to be diligent with his research. The markets are now quite volatile, and investors need to watch the latest moves closely in order to make a decision. Here is a look at 5 biotech penny stocks that made significant moves recently.
Biotech penny stocks To Watch This Week #1 BioCryst
One of the penny stocks that ought to be on most watch lists at this point in time is that of BioCryst (BCRX). The stock has been in focus ever since the company started studies on its coronavirus medicine, and over the course of the past two weeks, it has rallied by as much as 70%.
It should also be noted by investors that the study in question has been funded by the U.S. National Institutes of Health’s National Institute of Allergy and Infectious Diseases. Many companies that have become involved in developing products to tackle the coronavirus have seen their stock prices soar in recent times.
Biotech penny stocks To Watch This Week #2 Teligent
On the other hand, Teligent (TLGT) is another penny stock that has emerged as a possible option for investors in recent days. Earlier on in the month, the company announced its fourth-quarter results. The earnings per share rose by as much as 5.56% year on year to hit $0.17 per share. However, the revenues declined by 4.83% year on year to slump to $15,967,000.
The Teligent stock rose by as much as 22% this past Friday despite there being no material news with regards to the company. Investors could do well to keep an eye on the stock this week.
Biotech penny stocks To Watch This Week #3 Neptune Wellness Solutions
Neptune Wellness Solutions (NEPT) could be another promising penny stock option. The demand for hand sanitizers has grown at a remarkable pace due to the coronavirus crisis, and hence, the Neptune Wellness stock flew after it announced earlier on in April that it is going to manufacture hand sanitizers.
The stock rallied strongly on the day the announcement was made, and it has gained as much as 105% so far this month. Investors could do well to add this stock on to their watch lists.
Biotech penny stocks To Watch This Week #4 Savara
Another penny stock that is worth considering at this point in time is that of Savara (SVRA), which made a major announcement earlier this month. The company announced in early April that it has managed to get the worldwide rights from Grifols to commercialize and develop the medicine Apulmiq.
The medicine in question is meant for the treatment of non-cystic fibrosis bronchiectasis. Since the announcement, the stock has rallied strongly and has managed to gain as much as 40% so far this month. Investors could track this stock this week.
Biotech penny stocks To Watch This Week #5 Taronis Technologies
Last but not least, Taronis Technologies Inc (TRNX) is another penny stock that has emerged as a promising option for investors. The stock started rallying last week after the company announced that it was not going to go ahead with a proposed reverse stock split.
In the past two trading sessions, TRNX stock has managed to gain as much as 200% and has emerged as one of the major penny stock gainers.