Penny Stocks to buy now?
Looking for penny stocks to buy now? If your answer is “yes”, you are not alone. But before you dive headfirst into something someone posted on Reddit, you’ll want to make sure you do a few things first. To get started, find the types of stocks you want to trade.
Whether it’s technical trading based on momentum, fundamentals, or a combination of all, determining the “stuff” you want to trade is key. Your next step is to put together your list of penny stocks watch. Reduce this even further for when you’re ready to pull the trigger and then decide if it’s time to buy or avoid altogether. This article looks at some of the most popular penny stocks to watch this week.
Best penny stocks to buy [or avoid]
- Acorda Therapeutics (NASDAQ: ACOR)
- PAVmed Inc. (NASDAQ: PAVM)
- Atara Biotherapeutics (NASDAQ: ATRA)
- Atossa Therapeutic (NASDAQ: ATOS)
- Xeris Biopharma Holdings (NASDAQ: XERS)
Acorda Therapeutics (NASDAQ: ACOR)
The stock market might be down today, but that doesn’t seem to have hurt the micro-cap arena. Biotech Penny Stocks they are some of the most active in the stock market today. These small companies tend to move unrelated to larger markets due to their speculative nature and their potential to make significant jumps on any type of news or corporate event.
Acorda Therapeutics is one of the recent examples of this, and the end of October has been a very busy period for the company. Acorda first came to attention after winning a $16.5 million arbitration award. A license dispute with Alkermes swung in Acorda’s favor over certain AMPYRA license royalties. According to company management, the award gives the company a more competitive rate to provide treatment and reduce costs. The arbitration victory came after more than two years of work to make it a reality. Acorda initially filed the arbitration claim in July 2020.
Fast-forward about a week, and ACOR stock is waking up again. The move comes just days before a virtual question-and-answer session with CEO Ron Cohen, MD. The call will review the elements of the Acorda Special Shareholders Meeting, which will take place next week, on November 4. In light of this, speculative trading trends seem to have resurfaced, and ACOR shares are back on the radar of retail traders.
PAVmed Inc. (NASDAQ: PAVM)
Another one of the biotech penny stocks on this list is PAVmed. The company develops medical devices for diagnostics and digital health applications. Its subsidiary, Lucid Diagnostics (NASDAQ: LUCD), focuses on cancer prevention and markets EsoGuard and EsoCheck, aimed at patients at risk of certain types of esophageal cancer.
The interesting part about PAVM stock is that there haven’t been many recent developments that can fuel the market’s momentum. Some details related to the PAVmed business portfolio may be a point of focus. In particular, its Veris Health Cancer Care platform was discussed in the Q2 Business Update. The company discussed plans to launch it this year. While no further details have surfaced, it may be worth noting that momentum has started to build.
Veris is another of PAVmed’s subsidiaries and focuses on digital health for personalized cancer care. The cancer care platform is expected to launch with its VerisBox, a suite of Bluetooth-connected healthcare devices.
Atara Biotherapeutics (NASDAQ: ATRA)
Shares of Atara Biotherapeutics have risen steadily this month. The company’s specialty is T-cell immunotherapy. Last month, it received a short-term milestone payment under an existing agreement with Pierre Fabre in the commercialization of tab-cel for Epstein-Barr virus-positive cancers. . Atara announced that it would obtain US$30 million following the EC approval of tab-cel and the transfer of the marketing authorization application to Pierre Fabre. Considering early approval for this is Q4 2022, the timing has been in focus.
A few weeks ago, the company also announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use adopted a positive opinion for EC approval. This approval was for Ebvallo for the treatment of patients with relapsed or refractory Epstein-Barr virus-positive lymphoproliferative disease.
Pascal Touchon, President and CEO of Atara, explained that “if approved, EbvalloTM it will be the first allogeneic T-cell therapy and has the potential to change the treatment paradigm for relapsed or refractory EBV+ PTLD patients facing a poor prognosis and dismal median survival of just weeks to a few months.”
Against the backdrop of multiple “expected” results, ATRA’s shares have turned heads in the stock market this week.
Atossa Therapeutics (NASDAQ: ATOS)
This morning’s news helped boost Atossa in the market. The company announced that it has received FDA clearance to begin its Phase 2 study of (Z)-endoxifene in premenopausal women with specific receptors associated with breast cancer. This marked the first study of Atossa’s endoxifen (Z) platform in the US.
CEO Steven Quay, MD, Ph.D., also mentioned that the company had hired Dr. Matthew Goetz. He is the Erivan K. Haub Family Professor of Cancer Research in honor of Richard F. Emslander, MD at Mayo Clinic, and director of Mayo Clinic Breast Cancer SPORE. Dr. Goetz will be the Principal Investigator for this multicenter study.
“We hope to open the study in the fourth quarter,” said Dr. Quay.
In light of a pending study opening this quarter and in addition to today’s update, ATOS shares could be one of the names to watch.
Xeris Biopharma Holdings (NASDAQ: XERS)
Last week, Xeris Biopharma Holdings announced clinical data, and since then, XERS shares have been on the rise. The company reported positive top-line results from Phase 1 of its investigational XP-8121 subcutaneous platform. Xeris said the data support further development in patients with congenital or acquired hypothyroidism who require thyroid hormone replacement.
Interestingly, as several companies in this penny stock list, Xeris is also expecting an event later in the year. In this case, he anticipates an FDA phase 1 end interaction before 2023.
CEO Paul R. Edick said, “The results of the Phase 1 study offer an early proof of concept that our novel subcutaneous formulation of levothyroxine has the potential to provide patients with once-weekly dosing, which could improve adherence to treatment, in addition to avoiding gastrointestinal problems. (GI), thus mitigating the limitations of oral therapy.”
In light of these latest milestones, XERS stock could be one of the companies to watch. Jefferies recently took on penny stock coverage with a $4 buy price target.
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