The three best penny stocks to buy today aren't your typical penny stocks - and they all have the capability to return triple-digit gains in a matter of months.
What sets these penny stocks apart - besides their profit potential - is they don't trade "Over the Counter" or on the Pink Sheets. They're real companies, with real products. You won't be buying into a penny stock scam, or a shell company passing itself off as the next best thing.
Each of the best penny stocks to buy trades on the Nasdaq and are priced between $3 and $5. So you won't being buying shares that trade for a fraction of a penny. They also all have solid liquidity, meaning you can enter and exit these trades easily.
Here are our three best penny stocks to buy now, and the reasons we're so bullish on them...
Best Penny Stocks to Buy Today No. 1: Oncothyreon Inc. (Nasdaq: ONTY)
Oncothyreon Inc. (Nasdaq: ONTY) was a penny stock I recommended to readers back in September 2014. Year to date, it has climbed more than 111%.
It's a clinical-stage biopharmaceutical company that develops treatments for various types of cancer.
The company had a major breakthrough at this year's American Society of Clinical Oncology (ASCO) annual meeting earlier this month. Company officials presented its early-stage breast cancer drug ONT-380 and said the drug was successful in reducing tumors in an early study. The drug was said to be effective in treating women with HER2-positive metastatic breast cancer who didn't respond to other treatments. It was a phase 1 clinical trial.
Since the ASCO meeting started in late May, ONTY shares have jumped another 18.6%.
The company is also developing tecemotide, a treatment for small-cell lung disease that stimulates the patient's immune system into fighting and destroying the disease.
Even after this year's meteoric rise, shares of ONTY are still priced at just $4.04. One analyst surveyed by Thomson/First Call has a price target of $5, which would be a 23.8% gain from today's price.
Any more updates on ONT-380 could send ONTY shares much higher.
Continue reading for two more of the best penny stocks to buy now...
Best Penny Stocks to Buy Today No. 2: Rex Energy Corp (Nasdaq: REXX)
Rex Energy Corp. (Nasdaq: REXX) is an independent oil and natural gas company. The company has operations in some of the United States' biggest shale regions including the Marcellus Shale and Utica Shale.
Despite falling oil prices, the United States is still producing crude oil at its highest level since the 1970s. In March 2015, the U.S. Energy Information Administration (EIA) reported U.S. production hit 295 million barrels for the month. That was its highest total in more than 40 years.
Natural gas production is booming as well. Since December, the total has hovered near 2.4 billion cubic feet, which is the highest output rate ever according to the EIA.
REXX is still reeling from the drop in oil prices. It has fallen 72.9% in the last 12 months alone. But it has begun rebounding. Since mid-March, REXX stock has climbed more than 28%.
The company initially put on debt to weather falling oil prices, but it has been clawing its way back with debt renegotiations and a partnership with ArcLight Capital Partners to develop more natural gas wells.
REXX opened at $4.76, so it's on the higher end of the penny stock scale. But analysts surveyed by Thomson/First Call have an average price target of $6.72. One has a target of $12, which would be a gain of 151% from today's opening price.
Best Penny Stocks to Buy Today No. 3: Neonode Inc. (Nasdaq: NEON)
Neonode Inc. (Nasdaq: NEON) is third on our list of best penny stocks to buy now.
The company develops optical sensing technology, which can turn ordinary surfaces into touchscreen-like surfaces for devices. Picture moving your finger along your desk and scrolling through your phone.
The technology can be used with laptops, computers, monitors, GPS devices, e-Readers, tablets, smartphones, and even wearable tech products.
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In the upcoming quarter, analysts expect revenue to jump 214% to $2.72 million. NEON has also met or exceeded earnings estimates in three of the last four quarters.
NEON stock is up 29.1% in the last three months, but analysts see it climbing much higher from here. Analysts surveyed by Thomson/First Call have an average price target of $7.33. That's 112% higher than today's opening price of $3.46. The high estimate is $10. That would be a 189% gain.
Zacks Investment Research holds a "No. 2 Buy" rating on this penny stock.
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