The biotech boom that began last year has triggered triple-digit gains in some of the best penny stocks to buy today.
Some of our top penny stocks in biotech recommended last year gained as much as 440%, 231%, and 214%. And the biotech sector is going to keep surging - especially the sector's best low-priced buys.
With that in mind, following are three of the best penny stocks in biotech.
Biotech's Best Penny Stocks
Cell Therapeutics Inc. (Nasdaq: CTIC), based in Seattle, Wash., acquires, develops, and commercializes treatments for cancers, including non-Hodgkin's leukemia and ovarian, neck, and brain cancers. The company just announced it has completed patient enrollment in clinical trials for an investigational agent to be used as a maintenance therapy in ovarian cancer patients. The trial is being conducted by the Gynecologic Oncology Group, one of the National Cancer Institute's funded research groups. Roth Capital recently reiterated a "Buy" rating on the stock and raised its price target from $6 to $7. Roth believes the company's treatment for leukemia, Pacritinib, is effectively evolving. Additionally, the investment firm sees potential in CTIC's Tosedostat, which deprives tumor cells of the amino acid building blocks needed to make proteins necessary for tumor cell survival. Shares rose 2% Tuesday to $3.52 on volume of 6 million shares.
Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) is a 10-year-old development-stage biopharmaceutical company headquartered in Charlotte, N.C. Shares got our attention mid-month when the stock soared 160% on heavy volume after a panel of federal experts recommended approval of its most advanced candidate, Northera. A blood pressure treatment designed to prevent dizziness and fainting in Parkinson's disease patients, the advisory group concluded the drug is effective enough to warrant regulatory approval. The outside panel's endorsement came with the condition the drug only be approved for short-term use in a defined group of patients.The FDA will make a decision on Northera on Feb. 14. In addition to Northera, CHTP also has a portfolio of potential therapies for the treatment of rheumatoid arthritis. These treatments may also be suitable for the treatment of other autoimmune disorders. Over the last year, the stock has traded as low $0.76 and as high as $5.78. The stock was up 2.62% Tuesday at $4.50 on brisk volume of 2 million shares.
Hemispherix Biopharma Inc. (NYSE: HEB) is a specialty pharmaceutical company. It engages in the clinical development of new drug therapies based on natural immune system enhancing technologies and targets the treatment of viral and immune-based clinical disorders. The Philadelphia, Pa.-headquartered company gained widespread attention over the last several months for its work on flu research. Its flagship products include Alferon N Injection, approved by the FDA for a category of sexually transmitted disease infection. Experimental treatments include Ampligen and Oragens, in development stages for the potential treatment of global viral diseases and disorders of the immune system including human papilloma virus, human immunodeficiency virus, chronic fatigue syndrome, hepatitis, and influenza. Shares have traded as low as $0.18 and as high as $0.55 over the last year. At last check, shares were changing hands around $0.50 on volume of 2 million shares.
Don't miss today's hot penny stocks - some more than doubled last week.
- The Wall Street Journal: Biotechnology Boom Is Here to Stay, Investors Say