With more and more people being employed every month, the economy is feeling very secure at the moment. More consumers have the disposable income to spend which means that the stock market is attracting more potential investors. All of these new investors have helped push the markets to higher highs.
The current market conditions have also opened doors for taking more risk. Some use a rule of thumb to direct 5-10% of available capital to higher risk classes. Well, penny stocks are some of the most risky and right now investors are profiting big off of small moves in cheap stocks.
According to the SEC, a penny stock is any equity that trades below $5. Furthermore, when you begin trading penny stocks you will quickly learn about their insane volatility. This is what allows those crazy success stories you might have heard about.
The first step to being on the receiving end of large profits is identifying potential penny stocks to research. Some people use fundamental factors and others use technical factors to identify companies to put on a list of penny stocks. This week, a few stocks have caught attention and are being bought for under $2.50 a share; some are below $1.Penny Stocks To Buy Under $2.50: Agile Therapeutics Inc. (AGRX)
First is Agile Therapeutics Inc. (AGRX Stock Report). The company is a healthcare company that is dedicated to solving and providing the unmet health needs of women. Its lead product is known as Twirla which utilizes the company’s transdermal patch technology, Skinfusion. Twirla is a contraceptive patch that is only needed once every week which is an alternative to the usual daily pill.
On November 14th, Agile announced that the FDA has extended the Prescription Drug User Fee Act goal date for its review of Twirla. The penny stock rallied up by 35% this week, increasing from $1.362 to $1.90.
When looking at Agile’s stock performance over the last month, you can see that the penny stock has attracted a lot of attention. What may be even better yet is the move the stock had from the end of October. We covered the stock after it dropped to 52-week lows in our article 5 Penny Stocks to Buy Before Next Month? Since then, AGRX stock saw highs of $2.97 and is still up over 380% as of the first half of this week.Penny Stocks To Buy Under $2.50: Genprex Inc. (GNPX)
Another breakout penny stock this week is Genprex Inc. (GNPX Stock Report). It is a clinical-stage gene therapy company that discovers new ways to treat cancer. The company’s lead product candidate, Oncoprex, is used to target non-small cell lung cancer. This accounts for about 85% of all lung cancers which is potentially a very large market.
Genprex recently announced its positive preclinical data at the American Association of Cancer Research Timor Immunology and Immunotherapy Meeting 2019. The data was for its treatment of some metastatic lung cancers. Genprex’s TUSC2 therapy increased the effectiveness of anti-PD1 immunotherapy. This news has resulted in the biotech penny stock rising over 160% this week. Shares are currently trading just over $0.50 and have seen highs of $1.09.
“These data not only further support existing preclinical data showing that Oncoprex immunogene therapy is synergistic with anti-PD1 therapy, but they also offer new data demonstrating that Oncoprex improves on the combination of anti-PD1 therapy and chemotherapy, today’s first line standard of care for lung cancer,” said Julien Pham, President and COO of Genprex.Penny Stocks To Buy Under $2.50: iFresh Inc. (IFMK)
To add a little bit of interesting to this list, the next company I will discuss is iFresh Inc. (IFMK Stock Report). iFresh is an Asian grocery supermarket chain based out of the US. At the moment, the company has 2 wholesale facilities and 8 retail supermarkets in New York, Florida, and Massachusetts. The company targets the niche Asian population within the US by utilizing its deep understanding of its consumer’s habits.
This week, IFMK stock has been doing very well. Since the start of the week, shares have jumped from$0.37 to highs of $0.50 on Tuesday. The company recently announced that it would be participating in Alipay Singles’ Day Event. This means that iFresh will give customers free gifts based on certain spending amounts. This event has become one of the largest offline and online shopping days in the world.
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Long Deng, Chairman and CEO of iFresh, expressed, “We are excited to join Alipay’s Singles’ Day Sales Event to attract its massive users to shop in our supermarkets and capitalize on a month of robust consumer spending.”Penny Stocks To Buy Under $2.50: BioCryst Pharmaceuticals Inc. (BCRX)
One of the top penny stocks to watch at the end of last week continued higher this week. BioCryst Pharmaceuticals Inc. (BCRX Stock Report) focuses on creating novel therapies for rare and serious diseases. Unlike most small-cap companies in the biotechnology space, BioCryst already has an FDA approved drug on the market, RAPIVAB.
This week shares of BCRX stock jumped to highs of $2.03 to mark a rally of 47% since hitting 52-week lows last week. This strong price increase came courtesy of some penny stock news that the company released. BioCryst announced the completion of its underwritten public offering of 43.6 million shares. This included 5.7 million additional shares. The public offering has given the company gross proceeds of around $63.3 million.
BioCryst expects to use this newfound capital for a variety of things. This includes the development, regulatory, and commercial activities for the prophylactic BCX7353 program. In addition, the development of the companies BCX9930 and BCX9250 programs will see some of this money. On top of this, Bank of America upgraded the penny stock from Neutral to Buy but lowered the price target to $4 from $5.