Best Penny Stocks: Why Biotech Keeps Delivering Triple-Digit Gains

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.