Penny stocks, like any other equities, are a popular topic among investors. Obviously, this year has been a bit different thanks to a massive stock market sell-off in March. This actually created a higher demand for penny stocks in my opinion.
We saw and continue to see countless “popular companies” trading as penny stocks. Many of them are fighting to stay alive as businesses. Sweeping bankruptcies and even companies going out of business have brought the term “penny stocks” into a whole new light.
On the flip side to that, we have companies that are growing; not contracting. In these cases, the idea of penny stocks is more akin to expansion and upbeat sentiment. These aren’t companies failing to survive but more-so companies aiming to thrive. The nice part about these companies is that analysts take note. I’m not one to say that whatever stock market analysts say is set in stone.
- It’s Simple Math: Penny Stocks * Options + Robinhood – Accountability = Loss & Tragedy
- How To Trade Penny Stocks: A Beginner’s Guide For 2020
These are normal people we’re talking about. But what I will say is that when it comes to researching, I wouldn’t completely ignore what analysts have to say. As we approach a new week, I’m willing to bet that at least some of these penny stocks could be on a watch list or two.Penny Stocks To Buy [according to analysts]: SINTX Technologies, Inc.
Ever since hitting 52-week lows of $0.28, Sintx Technologies, Inc. (SINT Stock Report) has been on a very steady rise. Unlike many of the high-volatility penny stocks to watch this year, SINT stock price has been a slow mover. But that doesn’t discount the fact that shares have bounced back by more than 100% since March 19th. In fact, SINT is up 176% as of Friday’s close. It’s also climbed as high as $0.88 marking a move of over 210%.
Where do analysts put SINT stock? According to the most recent info, the average analyst ratings put the penny stock at a “Moderate Buy“. What does SINTX do? The company mainly focuses on silicon nitride and its applications. Specifically, silicon nitride and how it can be applied medically.
This week, not only could SINT be one of the penny stocks to watch based on analysts but also based on what the company announced over the weekend. On June 20th, SINTX reported a coronavirus-related update. The company announced that in a controlled laboratory study, the SARS-CoV-2 virus was inactivated when exposed to SINTX’s sintered silicon nitride powder. SINTX said it expects to share additional data “soon,” once the findings are published in a rapid-review forum.
Dr. Sonny Bal , CEO of SINTX said, “The antiviral data are consistent with the well-established anti-bacterial properties of SINTX’s silicon nitride, and with previously reported effectiveness against several single-strand RNA viruses. Additional testing at independent, outside laboratories is in progress to corroborate the effectiveness of silicon nitride against SARS-CoV-2.”Penny Stocks To Buy [according to analysts]: Selecta Biosciences
Another one of the biotech penny stocks with high analyst ratings, Selecta Biosciences (SELB Stock Report) saw above-average volume on Friday. This came after Sarepta Therapeutics Inc (SRPT Stock Report) announced a licensing agreement with Selecta Biosciences. The deal is for licensing the Selecta’s immune tolerance platform, ImmTOR. It will target Duchenne muscular dystrophy and certain limb-girdle muscular dystrophies.
There weren’t any monetary specifics revealed (yet). However, according to the update, Sarepta will pay an up-front payment to Selecta upon signing of the agreement. Selecta is also eligible to receive additional preclinical payments under the option term. If Sarepta opts-in to an exclusive license agreement exercises its options to enter any commercial license agreements, it will be eligible for additional development, regulatory, and commercial milestone payments and tiered royalties on net product sales.
Where do analysts put SELB stock? According to the most recent info, the average analyst ratings put the penny stock at a “Strong Buy“. Despite a recent downgrade from Stifel from Buy to Hold, hedge funds appear to like SELB for the time being. According to Insider Monkey, SELB was in 21 hedge funds’ portfolios at the end of March. As a comparison, there were 13 hedge funds in its database with SELB holdings at the end of the previous quarter. For more info on SELB’s larger holders, check out the company’s 13D and 13G statements here.Penny Stocks To Hold [according to analysts]: Evoke Pharma Inc.
It has become a common theme among penny stocks to watch. Biotechnology tends to take a top seat as far as industries to keep track of. If Evoke Pharma Inc. (EVOK Stock Report) sounds familiar, that’s probably because it should be. Back in May, we offered a little insight into this company. This was when Evoke announced that the U.S. FDA conditionally accepted the proprietary brand name, “Gimoti”. This is Evoke’s nasal spray product candidate for the relief of symptoms in adult women with acute and recurrent diabetic gastroparesis as resubmitted in the 505(b)(2) New Drug Application.
While shares were climbing leading up to the announcement, that trend continued well-after. From May 20th on, EVOK stock has climbed as high as $2.80 marking a jump of 52%. However, the newest update, which came late Friday afternoon could signal a potentially “big event” for the company.
Around 3:30 PM EST on June 19, Evoke announced the U.S. FDA approved the New Drug Application for GIMOTI™ (metoclopramide). According to the company, this approval represents the first novel pharmaceutical treatment for gastroparesis in several decades.
Where do analysts put EVOK stock? According to the most recent info, the average analyst ratings put the penny stock at a “Hold“. Even though it isn’t a Buy rating, officially, it isn’t a Moderate to Strong Sell either. Considering this latest news came late in the afternoon on Friday, it could be something to keep in mind heading into the week.Penny Stocks To Buy [according to analysts]: MannKind Corporation
MannKind Corporation (MNKD Stock Report) is another one of the penny stocks on the move since mid-March. Like Evoke, MannKind dropped to 2020 lows at the end of the 1st quarter and has been steadily climbing ever since. In fact, since March 16th lows of $0.80, MNKD stock has jumped as much as 150% following last week’s 2020 high of $2. If you’re not up to speed on what MannKind does, that’s ok. It has long been considered one of the penny stocks with an active following. The company focuses on inhaled therapeutic products for patients with diseases such as diabetes and pulmonary arterial hypertension.
Is MannKind a penny stock to watch this week? Heading into the final days of the month and quarter, MNKD could be a stock to watch considering what’s happening on Wednesday. The company will be featured in a virtual presentation and fireside chat at the June 2020 Lytham Partners Virtual Investor Growth Conference. Presenting from the Company will be its Chief Executive Officer, Michael Castagna, Pharm D.
New data from clinical studies of its Afrezza® (insulin human) Inhalation Powder were presented at the American Diabetes Association’s 80th Scientific Sessions, earlier this month. Of note, an analysis demonstrated treatment with Afrezza is associated with weight loss in patients with type 2 diabetes. This is compared to weight gain with injected mealtime insulin. Where do analysts put MNKD stock? According to the most recent info, the average analyst ratings put the penny stock at a “Strong Buy“.Penny Stocks To Buy [according to analysts]: Kitov Pharma Ltd.
One of the more actively discussed biotech penny stocks in May and June has been Kitov Pharma Ltd. (KTOV Stock Report). However, prior to that, just like other penny stocks mentioned above, KTOV stock dropped in March and has been on a steady incline ever since. Shares dropped to lows of $0.22 on March 13 and rallied as high as $0.705 in mid-May.
One of the clear technical trends, if you look at a KTOV stock chart is that its 200-Day moving average continues to act as a resistance point. That actually goes all the way back to 2018. Each time KTOV stock tests this level, it may briefly jump above it but has yet to sustain itself there. Needless to say, the general trend has been bullish from mid-March to the end of June.
Aside from that, the focus for Kitov has been on its progress with pain management and immune diseases. Last month, the company announced that the U.S. FDA accepted its Investigational New Drug application to conduct a Phase 1/2 clinical trial. The trial will be based on its NT219, an agent addressing treatment resistance in advanced cancer. According to Kitov, the study will evaluate NT219 as a monotherapy treatment of advanced solid tumors.
KTOV could be another one of the biotech penny stocks to watch this week as it’s set to present data. On Monday, the company will present preclinical data for NT219 in a poster at the American Association of Cancer Research Virtual Meeting II. Where do analysts put KTOV stock? According to the most recent info, the average analyst ratings put the penny stock at a “Strong Buy“.