Today we're bringing you our updated list of the top penny stocks to watch this week. These stocks all had gains of at least 40% last week, with our top penny stock winner posting gains of nearly 180%.
And these five winners all have the potential to continue their double- and triple-digit runs this week.
The Top 10 Penny Stocks in 2016: Check out our special list of the best-performing penny stocks this year…
Top Penny Stocks to Watch No. 5: Five Star Quality Care Inc. (Nasdaq: FVE)
Five Star owns and manages senior- and assisted-living communities. FVE stock jumped 41% last week after it announced that it entered a $112.4 million sale and leaseback agreement for seven of its assisted-living communities. Five Star entered a renewal lease with these communities for 12.5 years with a renewal option after the lease expires. FVE stock is trading at $2.35 per share as of Tuesday intraday and is down 26% year to date. The penny stock has a price target of $5.00 by July 2016, according to FactSet analysts. That's a potential gain of 112%.
Top Penny Stocks to Watch No. 4: CoLucid Pharmaceuticals Inc. (Nasdaq: CLCD)
CoLucid develops therapies for neurological disorders, including chronic migraines, chronic pain, and Alzheimer's disease. CLCD stock rose nearly 50% last week, but there appeared to be no direct catalyst for the surge. CoLucid stock is trading at $8.51 per share as of Tuesday intraday and is up 7.5% year to date. The penny stock has a price target of $19.75 by July 16, according to FactSet analysts. That's a potential gain of 132%.
Top Penny Stocks to Watch No. 3: New Concept Energy Inc. (NYSEMKT: GBR)
New Concept Energy Inc. owns oil and gas wells in Ohio and West Virginia. It also owns a retirement center in Oregon. GBR stock shot up 64% last week, but there appeared to be no catalyst for the rise. GBR stock is trading at $2.27 per share as of Tuesday intraday and is up 111% year to date. No analysts have given a price target for New Concept.
Top Penny Stocks to Watch No. 2: Transition Therapeutics Inc. (Nasdaq: TTH)
Transition Therapeutics is a biopharmaceutical company that specializes in developing drugs for widespread diseases. The company's leading product candidate, ELND005, is for the treatment of Alzheimer's disease, bipolar disorder, and Down syndrome. TTH stock rose 95% to $1.77 per share last week after healthcare company OPKO Health Inc. (Nasdaq: OPK) agreed to acquire Transition Therapeutics for $59.8 million. The deal will close in the second half of 2016.
Here's our top penny stock to watch this week. It climbed 180% in one week alone…
Top Penny Stocks to Watch No. 1: ReachLocal Inc. (Nasdaq: RLOC)
ReachLocal is a digital marketing company that offers call tracking, mobile alerts, search engine optimization services, content marketing, and many other marketing services. RLOC stock spiked 180% last week after news giant Gannett Co. Inc. (NYSE: GCI) agreed to acquire ReachLocal on June 27 for $138.4 million. The deal will close in the third quarter of 2016.
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