5 Pharmaceutical Penny Stocks to Watch for August 2017

The top-performing pharmaceutical penny stocks to watch in August have posted gains as high as 49.51% per share over the past 30 days. All of the stocks on today's list are up at least 20% in the same time.

In addition to this list of penny stocks, we're also sharing a pharmaceutical profit play with Money Morning readers that could potentially double your money in the next 12 months.

Here are the top-performing pharmaceutical penny stocks of the past 30 days…

Company	July Performance	Price
MEI Pharma Inc. (Nasdaq: MEIP)	49.51%	$3.08
Amarin Corp. Plc. (Nasdaq: AMRN)	37.33%	$4.12
DURECT Corp. (Nasdaq: DRRX)	33.21%	$1.87
Prana Biotechnology Ltd. (Nasdaq: PRAN)	27.37%	$2.75
Cardiome Pharma Corp. (Nasdaq: CRME)	20.36%	$4.67

Source: FinvizWhile these 30-day, double-digit gains are tempting, they are unlikely to last. Because of this, Money Morning doesn't recommend penny stocks for most investors.

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You see, penny stocks typically have low trading volumes. This increases your risk because it is hard to get into and out of a stock quickly. If a stock tanks 30% in one day, you may have a hard time finding a buyer. That also makes penny stocks much more volatile than stocks with higher market capitalizations.

The pharmaceutical stock we are recommending today trades for just under $13, above the typical $5 penny stock threshold. It is still a small-cap stock (market cap under $2 billion), giving it a lot of room for large price gains.

This stock is also more liquid than some of the stocks listed above, with an average trading volume of nearly 700,000 shares a day. The highest-priced stock above, CRME, only has an average trading volume of 62,127 shares per day.

This pharmaceutical stock that we are recommending today could even double your money in the next 12 months…

Double Your Money with This Small-Cap Pharmaceutical Stock