Penny stocks can hand you triple-digit profits in a matter of months, but finding the biggest gainers isn't easy. Today, we're going to show you the three best penny stocks of 2017, ranked by total return since Jan. 1.
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Although we aren't recommending these three gainers right now, we wanted to show you what was behind some of the hottest penny stocks on the market this year.
But we are going to show you a stock we do recommend. And it's one of the best stocks to invest in for 2018…
This company is a top recommendation from Money Morning Small-Cap Specialist Sid Riggs, and it's a play on the mobile banking industry's projected 716% growth over the next four years.
Here's our list of top performers, which includes gains as big as 427.8%…
Best Penny Stocks of 2017, No. 3: Medical Transcription Billing Corp.
The third biggest penny stock gainer on our list is Medical Transcription Billing Corp. (Nasdaq: MTBC), an information technology (IT) company that operates in the healthcare sector. The stock price has surged 304.5%, to $2.93, this year.
MTBC rocketed 109.3% on Oct. 3 alone after the firm announced its flagship talkEHR product would be adopted by medical practices across 42 states.
The talkEHR is a voice-interactive software system that provides access to medical records and listens to requests from doctors or nurses. Investors saw the news as an indicator of further growth prospects for the talkEHR product.
Best Penny Stocks of 2017, No. 2: Marinus Pharmaceuticals Inc.
If you happened to buy Marinus Pharmaceuticals Inc. (Nasdaq: MRNS) at the beginning of the year, you'd already be up 418.8% on your investment. Since Jan. 1, MRNS stock has climbed from $1.01 per share to $5.25.
The biggest news surrounding MRNS stock in 2017 is the successful clinical trials for its epilepsy treatment Ganaxolone in September. The drug is in phase 2 trials, where most patients have shown a reduction in seizure frequency. Ganaxolone specifically treats CDKL5 disorder, a severe and genetic form of epilepsy that results in early onset seizures.
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We'll be watching Marinus stock the rest of the year to see if the momentum from the trial news continues. Since the news in September alone, shares have rallied 69.9%.
Best Penny Stocks of 2017, No. 1: AVEO Pharmaceuticals
Shares of biotech AVEO Pharmaceuticals Inc. (Nasdaq: AVEO) have exploded 427.8%, to $2.85, this year. About 290% of that total 2017 return has happened since June 23, when the firm received a big drug approval in Europe.
AVEO's approved drug is called Tivozanib, a treatment for a common type of kidney cancer called renal carcinoma. According to the American Cancer Society, 1.6% of the global population is at risk of developing some type of kidney cancer at some point.
The company failed to receive U.S. FDA approval for the drug back in 2013, but it has a phase 3 trial set to finish up in the third quarter of 2018. Tivozanib's approval in Europe could boost AVEO's bottom line next year, which is why AVEO will stay on our 2018 stocks to watch list.
The gains from these three penny stocks are impressive, which is why investors should add them to their watch list.
But as we mentioned, we don't recommend investing in any of them. They've already seen triple-digit gains this year, and our Money Morning experts focus on finding stocks with gains in front of them.
Today, Money Morning Small-Cap Specialist Sid Riggs is giving you one of the best small-cap stocks to invest in for 2018.
This firm operates in the mobile banking transactions market, which is set to grow 716% over the next four years. According to Sid's research, this growth will boost total revenue for the tech firms that make these transactions possible to $865 billion in 2021.
And this company offers one of the best cybersecurity products for mobile banking, meaning it's poised to dominate the industry in 2018…