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4 Biotech Penny Stocks For You End of March Watchlist
Whether you are a huge fan of penny stocks or trying to avoid them at all costs, there is no denying the potential they have. There are very few things you can invest your money in and see quick, big returns. Thanks to the 2020 pandemic, the retail investor base has grown in size. We don’t just see a few new “mom and pop investors”, we see millions of new traders looking to make money in the stock market.
But if you are new to this world of cheap stocks you might be asking yourself some questions like captions and how can I make money with them? Put simply, these stocks represent stocks of companies trading for less than $ 5; that’s it. Over the past year, millions of new retail traders have seen firsthand the size of some of these “cheap stocks”.
On the one hand, you have companies like GameStop (NYSE: GME), which traded below $ 3 a year ago and ended up hitting highs over $ 480 this year. Then you have other companies like Zomedica (NYSE: ZOM), which cost less than a dime a share at the end of last year and have raised a few bucks to hit highs of $ 2.91 this year. . Does a $ 2.85 move really matter?
When you talk about stocks under $ 0.10, it is. This is about 47 times the initial investment. ZOM shares have grown by 4,750% in just a few months. Even with the higher risk of penny stocks, finding the best ones to follow can pay off.
What Kind of Penny Stocks Should You Watch?
If you are making a list of penny stocks to watch, you may want to take a closer look at certain sectors and market trends. One thing I’m sure you’ll find is that even if the S&P and the Nasdaq at large get crushed, there are usually at least a few biotech stocks going up. It is typical of the industry.
These businesses are generally speculative in nature, especially when you are talking about small businesses. Since the entire business model relies on advancing from processing to commercialization, everything leading up to this point, including revenue, comes after things like test data.
[Read More] 3 Penny Stocks To Buy Under $ 5 For Your April 2021 Watchlist
In fact, if you take a look at some of the top biotech pennies recently, as markets have sold off, many have weathered the storm well, thanks to key updates on testing. In fact, an example of this from Friday is CASI Pharmaceuticals (NASDAQ: CASI). As markets sold during the morning session, CASI shares moved higher. Speculation about the formal closing of its latest public offering was at the root of this decision. Additionally, analysts also supported a bullish stance on the company. In this case, the most recent note comes from Oppenheimer, who also placed a $ 5 goal on the company.
I’m going to stick to that theme today and discuss a few more penny biotech stocks to watch that analysts have covered recently. A few might also have fundamental catalysts to watch out for. Will they be on your list this week?
Biotech Penny Stocks to Watch
- GT Biopharma Inc. (NASDAQ: GTBP)
- AzurRx BioPharma Inc. (NASDAQ: AZRX)
- CTI BioPharma Corp. (NASDAQ: CTIC)
- Opko Health Inc. (NASDAQ: OPK)
GT Biopharma Inc. (NASDAQ: GTBP)
Roth Capital analysts recently weighed in on GT Biopharma in March. The firm gave a buy rating and a price target of $ 25 on the penny stock. A few basic developments related to the company’s immunotherapy pipeline might be important to note in light of Roth’s latest sentiment.
In particular, GT Biopharma has developed a treatment platform, TriKE, indicated in many types of cancer. The company’s main asset, GTB-3550, is being investigated to treat high-risk myelodysplastic syndromes, refractory / relapsing AML or advanced systemic mastocytosis. Provisional data has already shown promise. To date, 9 patients have been enrolled in the Phase I / II expansion clinical trial. Initial results have already shown reduced levels of bone marrow breath and show no signs of toxicity.
This month, GT announced the preclinical results of another treatment candidate, its MMR1 TriKE ™, as a prospective therapy for prostate cancer. GT explained that targeting ROR1 on cancer cells with TriKE ™ and redirecting NK cells to attack and kill ROR1-expressing cancer cells could result in a treatment that limits the metastatic potential and invasiveness of some solid tumors. Based on these results, the company said it plans to evaluate this MMR1 TriKE in additional preclinical studies allowing the IND to move to a Phase I / II clinical trial.
All things considered, there are a number of things the market and analysts like Roth take into account when it comes to GT Biopharma in 2021.
AzurRx BioPharma Inc. (NASDAQ: AZRX)
AzurRX is another of the biotech penny stocks to watch this week. Aside from sentiment from analysts, which I will discuss, this week could be pivotal for its processing pipeline. In particular, AzurRx has completed recruitment for its Phase 2b OPTION 2 clinical trial for the Company’s MS1819 treatment. Targeting cystic fibrosis (CF) patients with exocrine pancreatic insufficiency, the trial enrolled 30 patients with cystic fibrosis.
Why does this week need to keep AZRX stock on the watch list? The company said earlier in March that high-level data for the study is expected by the end of the first quarter of 2021. With only 3 days remaining in the quarter, time is running out.
In addition, AzurRx recently announced the end of recruitment in its Phase 2 trial evaluating MS1819 in combination with the current standard of care, porcine pancreatic enzyme replacement therapy. The main data from this combined treatment are expected by the end of the next quarter. So there are several potential short-term catalysts to be aware of.
As far as analysts are concerned, the most recent note is from HC Wainwright. The company has a buy rating on the penny stock. Additionally, earlier this quarter it increased its price target from $ 2 to $ 3.50.
CTI BioPharma Corp. (NASDAQ: CTIC)
Since its explosive move last quarter, CTI BioPharma has remained in a stable channel between $ 2.60 and $ 3.60 for the most part. There have been a few instances where the stock of CTIC has crossed the upper threshold. But for all intents and purposes, that has been the lineup for the past few months. More recently, ICTC has felt a bit of selling pressure.
Since the publication by the journal of the American Association for Cancer Research, Clinical Cancer Research, of the results of a Phase 1 study evaluating CTI’s pacritinib, the stock has slipped. The aim was to study the prevention of acute graft-versus-host disease using treatment. According to the company, the results showed that pacritinib, in combination with sirolimus and low-dose tacrolimus, has a “promising safety profile and shows preliminary therapeutic activity in the prevention of acute GVHD after allogeneic hematopoietic cell transplantation.” .
The phase 2 part of the trial evaluating the therapeutic effect of pacritinib in combination with sirolimus and low-dose tacrolimus for the prevention of GVHD is underway at the Moffitt Cancer Center and the Masonic Cancer Center at the University of Minnesota.
Why is this week important for CTI? As revealed in its March 17 update, the company expects the completion of a new drug authorization application for pacritinib in myelofibrosis patients with severe thrombocytopenia by the “end of the year.” first trimester ”, so again, this is a situation where the clock is ticking. But when it comes to analysts, Lake Street Capital is the most recent to weigh in. The firm has a buy on the stock and has increased its price target this year. Lake Street had given a target of $ 8 but increased it 62.5% to $ 13 earlier this year.
Opko Health Inc. (NASDAQ: OPK)
Finally, Opko could be another of the biotech penny stocks for the watch list. Although it is focused on expanding its reach through numerous operating companies, it is also developing its own processing pipeline.
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In this case, based on the company’s investor presentation in January, Opko expected to have master data on a Rayaldee trial by the end of this quarter. In particular, there is an open-label phase 2 trial to evaluate the safety, efficacy, pharmacokinetics and pharmacodynamics of more potent Rayaldee in people with vitamin D insufficiency and chronic renal failure requiring regular hemodialysis. .
Apart from this, OPK stock has also been a highlight in the analyst community. More recently, Barrington Research increased its price target from $ 7 to $ 8. The company also outperformed the title.
Biotech Penny Stocks & Volatility
While analyst activity is a good thing to weigh in your research, it’s not the only thing to consider. In light of the upcoming data for some of these companies, this can create a risky situation. If the results are not favorable, the market may react less than favorably. On the other hand, if the company comes out with data that exceeds expectations, we are potentially talking about an entirely different market reaction. Either way, as the saying goes, “the more you know”, and heading into this week you have the inside scoop on what some companies might expect and what forecasts analysts have made.
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