Do you love trading biotech penny stock action?
Many traders do. That’s because these sketchy stocks can make huge moves on news of trial results, new drugs, patents, or even conference attendance. (Think about it … Who’s going to attend a conference and release bad news?)
But you have to trade these stocks for what they are — developmental companies that might not even have a product on the market.
And you must realize that any exciting news they release about a new drug or trial results is probably just a bunch of BS fluff.
So what should you do?
Learn to take advantage of the hype, volume, and patterns. Then move on to the next opportunity. Don’t ever hold and hope. Especially in this market.
Now, let’s get to the top biotech penny stocks list. I’ll show you what’s on my radar and why…
Top Biotech Penny Stocks to Watch
These are the top stocks on my watchlist. ‘Watch’ is the key word here. There’s no guarantee that there’ll be a trading opportunity. Remember, these stocks move FAST.
Before we get to my list of stocks to watch, here are a few of my top resources for penny stocks…
- If you’re new to penny stocks, start here with this FREE online guide.
- Ready to learn how to build your own stock watchlist? This post is for you.
- Discover how I find all the stocks on my watchlists here.
How do I find hot stocks? I use StocksToTrade every day. For me, it’s the best tool because I helped design it specifically for trading penny stocks. (I’m also an investor.) It has awesome charts, built-in scans, social media feeds, and so much more to help you do your research.
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Now, let’s get to the top biotech penny stocks to watch this week…
Biotech Penny Stocks #1: Daré Bioscience, Inc. (NASDAQ: DARE)
DARE president and CEO will present at an upcoming conference from March 15–17. The stock has been trading in a channel around $2 for a couple of weeks.
I’ll watch this former runner for a breakout to the upside, ideally with more volume.
Biotech Penny Stocks #2: Jaguar Health, Inc. (NASDAQ: JAGX)
On Monday JAGX announced it secured $5 million in non-dilutive financing. The stock had a first green day following the news.
I’ll watch for continued upside but there’s a lot of overhead resistance.
Biotech Penny Stocks #3: Minerva Neurosciences, Inc. (NASDAQ: NERV)
NERV reported fourth-quarter earnings in premarket Monday. The stock went up following the news but was trading low volume.
This stock has an ugly chart and likely needs more volume for a bigger move.
Biotech Penny Stocks #4: AngioSoma, Inc. (OTCPK: SOAN)
SOAN is on my watchlist for the third straight week. I was watching for breakouts when the stock was up trending. It’s since retreated and bounced.
I’ll watch for a breakout over the recent highs of $0.063. And if it can’t break out, I’ll watch for a morning panic dip buy.
Biotech Penny Stocks #5: Enzon Pharmaceuticals, Inc. (OTCQX: ENZN)
ENZN was trading higher Monday after this report was published. It notes Carl Icahn’s stake in the company increased over the last quarter and he now owns 48%.
I’ll watch for continued upside and a retest of the 85-cent high.
Biotech Penny Stocks #6: Aeterna Zentaris Inc. (NASDAQ: AEZS)
The CEO of AEZS presented at the H.C. Wainwright Global Life Sciences Conference yesterday.
The presentation could bring interest and volume to the stock. The stock’s beaten down since its big one-day move on February 8. I’ll watch for volume and a potential quick short squeeze to the upside.
Biotech Penny Stocks #7: Skye Bioscience, Inc. (OTCQB: SKYE)
On Monday morning, SKYE announced it hired a cannabinoid science expert to its advisory board.
I’ll watch for continued upside, but there’s overhead resistance around 15 cents.
Biotech Penny Stocks #8: Panbela Therapeutics Inc. (NASDAQ: PBLA)
PBLA management will present at three virtual conferences in March. Here’s the schedule.
On Monday the stock had a big move from $3.89 to $5.50. Since it has a low float of around 8 million shares, it could have more potential squeeze to the upside.
Biotech Penny Stocks #9: Auris Medical Holding Ltd. (NASDAQ: EARS)
EARS moves in sympathy to Second Sight Medical Products, Inc. (NASDAQ: EYES). Silly, I know. But welcome to penny stocks.
EYES recently had a big move on FDA approval of its retinal prosthesis system. It’s not on this biotech watchlist because it’s not a penny stock anymore … But it did make it on my stocks to watch list on Tuesday, March 9.
EARS has no recent news so it’s strictly a sympathy play if EYES moves higher, or if it presents a panic dip buy opportunity.
Biotech Penny Stocks #10: Onconova Therapeutics, Inc. (NASDAQ: ONTX)
ONTX is scheduled to release fourth-quarter earnings, after hours on March 11.
I don’t try to predict earnings. I’ll watch for the stock to react to the news and for one of my patterns.
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I’ll say it again … The stocks on my watchlist aren’t an automatic buy. Remember to do your own due diligence and research. If you’re trading without a trading plan, you’re gambling. Don’t be a degenerate gambler — trade smart!
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Conclusion
Biotech penny stocks are stocks of small, developmental companies. These companies are usually desperate for cash. They need it to continue developing products and for testing and trials. Trade them with caution…
They’re known to be extremely volatile. They can have huge price swings. One minute they’re flying high on positive news — the next they’re down due to bad trial results, side effects, or stock dilution.
If you’re prepared to take advantage of the price swings, these stocks can offer great trading opportunities…
In my Trading Challenge chat room, my students and I talk about the hottest penny stocks. And many top traders who got their start in the Challenge are now chat moderators who answer questions and help out new students.
If you want to join a community of top traders, apply for my Trading Challenge. I don’t accept everyone. I only want the most dedicated students who are willing to put in the time and effort it takes to become my next top student. Could it be you?
What do you think of these biotech penny stocks to watch? Let me know in the comments … I love to hear from you!
The post Top Biotech Penny Stocks to Watch — March 10, 2021 appeared first on Timothy Sykes.