Our best penny stocks list this week includes five new winners with gains up to 49% last week.
Every week, we keep a running list of the best penny stocks winners. In case you missed last week's list, check it out, right here.
We don't usually recommend any of the penny stocks on our list - many of these are risky investments. But we are bringing readers one of our favorite penny stocks to buy now after this week's penny stocks list.
We're excited about this biopharmaceutical company because of its unique, disruptive technology that could double its stock within one year. The company is also undergoing a pivotal clinical trial that'll be completed in Q3 2016. If the company passes this trial, it could easily send its stock soaring 95%.
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Before we get to one of the best penny stocks to buy now, here's our best penny stocks list - including one penny stock that jumped 49% this week...
This Week's Best Penny Stocks List
Best Penny Stocks List, No. 5: PetroQuest Energy Inc. (NYSE: PQ)
PetroQuest is an oil and gas company that has 30 exploratory wells and 30 development wells. The company operates in East Texas, the Gulf Coast Basin, and Oklahoma Woodford. PQ stock rose 29% last week, but there appeared to be no catalyst behind its rise. This usually means investors are speculating on the stock, or engaging in pump-and-dump activity. The stock is currently trading at $2.84 per share as of Tuesday intraday and is up 41% year to date (YTD).
Best Penny Stocks List, No. 4: Rigel Pharmaceuticals Inc. (Nasdaq: RIGL)
Rigel Pharmaceuticals is a clinical-stage biotech company. The company discovers and develops drugs in the medical fields of immunology, immune-oncology, and oncology. RIGL stock rose 30% last week after it reported optimistic clinical results from a phase 3 study of its drug, Fostamatinib. The study measured the drug's ability to raise blood platelet levels. Results showed that 18% of patients who took Fostamatinib normalized their platelet levels, compared to 0% for the control group. RIGL stock is currently trading at $3.38 per share as of Tuesday intraday and is up nearly 11% YTD.
Best Penny Stocks List, No. 3: Nova Lifestyle Inc. (Nasdaq: NVFY)
Nova Lifestyle makes residential furniture and markets its products through retail and online. NVFY stock rose 35% last week, but there appeared to be no catalyst behind its rise. The stock is currently trading at $1.58 per share as of Tuesday intraday and is down nearly 13% YTD.
Best Penny Stocks List, No. 2: Performance Sports Group Ltd. (NYSE: PSG)
Performance sports group designs and sells sports equipment for ice hockey, roller hockey, baseball, and other sports. PSG stock rose 39% last week, but there appeared to be no catalyst for its rise. The stock is currently trading at $4.16 per share as of Tuesday intraday and is down nearly 68% YTD.
Best Penny Stocks List, No. 1: Accuride Corp. (NYSE: ACW)
Accuride makes and supplies wheels and wheel-end components to North American car manufacturers. ACW stock rose 49% last week after the company agreed to be acquired by Crestview Partners, a New York-based private equity company. Crestview will pay $2.58 per share - a 55% premium on Accuride's Sept. 1 closing price. The deal will close in Q4 2016. ACW stock is currently trading at $2.58 per share as of Tuesday intraday and is up 56% YTD.
While these stocks have already posted outstanding gains last week, we've identified one penny stock whose best days are ahead. That's because this company's disruptive technology could nearly double its stock within one year. And that makes it one of the best stocks to buy now...
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Our Favorite Penny Stock Pick This Week: Novavax Inc. (Nasdaq: NVAX)
Novavax is a clinical-stage biotech company that creates vaccines for viruses like rabies and the flu. It uses a special process called recombinant nanoparticle technology (RNT) to produce vaccine candidates quickly - usually within weeks. RNT is far more efficient than traditional vaccine production methods.
Novavax's disruptive technology enables it to test more vaccines than traditional biotech companies. One of the company's most promising drug candidates is its RSV F vaccine, which is intended to treat a lower respiratory tract disease.
RSV F is currently undergoing a pivotal phase 3 trial, which Novavax says will be completed by Q3 2016.
NVAX has a price target of $14.11 per share a year from now, according to FactSet. All eight analysts tracking the firm give it a "Buy" rating. The stock is currently trading at $7.23 per share as of Tuesday intraday. While NVAX is more expensive than most penny stocks, its RSV F vaccine has a good chance of being approved by the FDA... and that means windfall profits for early investors.
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