Today we’re bringing you five of the best penny stocks this week. Last week, most of these stocks posted at least double-digit returns or higher for investors, with the top penny stock boasting gains of 192%.
While we don’t necessarily recommend these stocks, they were the top-performing penny stocks of the week.
As a bonus to this week’s penny stock mentions, we’re also giving readers a free penny stock trading tip. This tip will help you easily research your favorite penny stocks, uncovering everything from a company’s revenue to its debt load.
It’s all here in our latest list of the best penny stocks this week…
This Week’s 5 Best Penny Stocks
Best Penny Stock No. 5: Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD)
Galmed is a clinical-stage biopharmaceutical company. The company develops oral drugs for the treatment of cholesterol gallstones and liver diseases. GLMD rose 41% last week after the company announced on Sept. 22 that it entered a joint clinical trial with the University of California. Researchers from the company and the university will be assessing the effects of a drug for liver disease on a juvenile population. GLMD is trading at $5.11 per share on Tuesday intraday and is off 30% year to date (YTD).
Best Penny Stock No. 4: Galectin Therapeutics Inc. (Nasdaq: GALT)
Galectin is a clinical-stage biopharmaceutical company that develops therapies for cancer and fibrotic disease. GALT rose 60% last week, but there was no concrete reason behind its surge, other than general investor speculation. GALT is trading at $2.49 per share as of Tuesday intraday and is up 51% YTD.
Best Penny Stock No.3: Novavax Inc. (Nasdaq: NVAX)
Novavax is a clinical-stage biopharmaceutical company that develops vaccines to respond to diseases, including the Ebola virus and seasonal influenza. NVAX rose 73% last week, but there was no apparent reason for the stock’s climb. Investors be warned: NVAX just failed a major phase 3 clinical trial for one of its most promising vaccines for respiratory syncytial virus (RSV). After the trial’s failure, NVAX tanked 84% on Sept. 16, from $8.34 per share to $1.29 per share. NVAX is currently trading at $2.23 per share as of Tuesday intraday and is down 73% YTD.
Best Penny Stock No. 2: Array Biopharma Inc. (Nasdaq: ARRY)
Array is a late-stage biopharmaceutical company that develops molecule drugs used to treat cancer patients. ARRY rose 96% over the past five trading days after it posted positive results on Sept. 26 from a phase 3 trial for a skin cancer drug. ARRY is trading at $6.81 per share as of Tuesday intraday and is up 62% YTD.
Continue reading for this week’s best penny stock and one crucial penny stock investing tip…
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Best Penny Stock No. 1: Hutchinson Technology Inc. (Nasdaq: HTCH)
Hutchinson makes components for hard disk drives for computer hardware companies around the globe. HTCH rose 192% last week after the Federal Trade Commission waived the waiting period to approve a merger between the company and a wholly owned subsidiary, TDK Corp. HTCH is trading at $3.97 per share as of Tuesday intraday and is up 10% YTD.
Continue reading to learn about our bonus penny stock trading tip, which will help you easily research your favorite penny stocks.
How to Easily Research Your Favorite Penny Stocks
If you want to find quick data about your favorite penny stock, like its company’s revenue figures or corporate structure, simply visit the U.S. Securities and Exchange Commission. The SEC requires most companies, including penny stock companies, to file their financial information.
Look at a company’s 10-K filing if you want a holistic summary of its annual earnings or other financial figures, like debt or outstanding shares. You can find the same information in a company’s 10-Q filing, but only for a given fiscal quarter.
Researching penny stock companies is especially important, because many either haven’t started making money yet or have taken on a lot of debt. It’s up to you to find out whether these stocks are worth your time and money.
Check out some other great penny stock strategies in the following Money Morning video:
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