Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
These top-performing biotech penny stocks to watch in July have seen share price gains as high as 56.6% in the past month.
After our list of the 10 top gainers to watch in July, we'll share a biotech profit play that has the potential to double your money this year.
Here are the top performing biotech penny stocks of the past 30 days…
| Company | June Performance | Price |
| Fortress Biotech Inc. (Nasdaq: FBIO) | 27.2% | $4.86 |
| NovaBay Pharmaceuticals Inc. (NYSEMKT: NBY) | 29.1% | $3.75 |
| Kadmon Holdings Inc. (NYSE: KDMN) | 31.5% | $3.54 |
| OvaScience Inc. (Nasdaq: OVAS) | 31.8% | $1.70 |
| CytRx Corp. (Nasdaq: CYTR) | 33.4% | $0.67 |
| BioDelivery Sciences International Inc. (Nasdaq: BDSI) | 34.1% | $2.97 |
| Flex Pharma Inc. (Nasdaq: FLKS) | 34.4% | $4.70 |
| 22nd Century Group Inc. (NYSE: XXII) | 35.3% | $1.85 |
| InVivo Therapeutics Holdings Corp. (Nasdaq: NVIV) | 35.7% | $2.65 |
| AVEO Pharmaceuticals Inc. (Nasdaq: AVEO) | 56.6% | $1.94 |
Because of their low price (under $5), penny stocks are highly volatile. So while these gains are tempting, they may not last. That's why we at Money Morning don't recommend penny stocks for most investors.
Additionally, penny stocks also typically have low trading volumes. That makes it harder to get in and out of a stock at the price you are targeting, increasing your risk.
This Is Creating Billionaires: This technology is projected to grow 63,000% and create $7 trillion in new wealth. Will you be able to capitalize on these windfall profits? Read more…
The biotech stock we are recommending today trades for $13, above the penny stock cutoff. This stock is also much more liquid than some of the shares listed above. The stock has an average trading volume of almost 700,000 shares a day. For comparison, the fourth-best performer last month, FLKS, has an average trading volume of just 84,000 shares per day.
And it has a profit potential of nearly 100% in the next 12 months.
Plus, you have a chance to maximize your profits if you get in before Aug. 1, because the company has a new drug that is set to cash in on two major current trends…