Today we're bringing you our updated list of the top five penny stocks this week. All of the penny stocks in this week's list delivered market-busting gains last week, with the top-performing stock rising over 170%.
And these penny stocks could rise even higher over the next few days...
Money Morning updates our top five penny stocks list every week for readers. We only add stocks from the most reputable exchanges, like the NYSEMKT or Nadsaq, to our list. That's because these exchanges require more rigorous financial standards than Over-the-Counter (OTC) markets.
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While we don't specifically recommend any penny stocks in our list, each of these stocks could still have serious upside. As a reader, it's up to you to assess whether they're worth buying.
Let's take a closer look at our top five penny stocks this week - including one 170% winner - now...
The Top 5 Penny Stocks This Week
Top Penny Stocks No. 5: Payment Data Systems Inc. (Nasdaq: PYDS)
Payment Data Systems creates electronic payment processing for retailers and businesses. It mostly offers online payment processing services. PYDS stock gained 36% last week after it announced a new relationship with a banking network. The partnership will expand Payment Data's reach to merchant customers. PYDS stock is currently trading at $1.50 per share as of Monday intraday and is down 26% year to date.
Top Penny Stocks No. 4: Eleven Biotherapeutics Inc. (Nasdaq: EBIO)
Eleven Biotherapeutics is a biopharmaceutical company in its preclinical stage. The company researches and develops protein therapeutics to treat eye diseases. The company's flagship drug candidate is EBI-031, which aims to treat diabetic macular edema. EBIO stock rose 47% last week, but there appeared to be no catalyst for the stock's rise. The stock is currently trading at $3.86 per share as of Monday intraday and is up 27% year to date.
Top Penny Stocks No. 3: Cerecor Inc. (Nasdaq: CERC)
Cerecor is a biopharmaceutical company in its clinical stage. The company wants to develop drugs that combat nervous system and psychological diseases, including schizophrenia and Parkinson's disease. CERC stock spiked 58% last week after it announced a new research grant for one of its drug candidates, CERC-501, which aims to treat post-traumatic stress disorder and alcohol abuse. In its press release, Cerecor didn't mention how much money the grant provided. CERC stock is trading at $3.45 per share as of Monday intraday and is up 3% year to date.
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Top Penny Stocks No. 2: Alimera Sciences Inc. (Nasdaq: ALIM)
Alimera is a biopharmaceutical company that researches and develops drugs for eye or retina diseases. Its flagship product is called ILUVIEN, and it was developed to treat diabetic macular edema. ALIM stock jumped 93% last week after it released strong second-quarter results. The company reported a revenue increase of over 50% versus the first quarter of 2016. ALIM stock is currently trading at $1.99 per share as of Monday intraday and is down 17% year to date.
Top Penny Stocks No. 1: Sequenom Inc. (Nasdaq: SQNM)
Sequenom is a life sciences company that provides early patient management information. Most of the company's diagnostic services focus on prenatal health. SQNM stock soared over 174% last week after it received a bid from healthcare diagnostics giant LabCorp of America (NYSE: LH). LabCorp will acquire Sequenom for $302 million, or $2.40 per share. For penny stock companies, big acquisitions like this are rare. But investors that catch companies like Sequenom before they're bought out score a premium on their shares. SQNM stock is currently trading at $2.37 per share as of Monday intraday and is up 43% year to date.
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