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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.