Few investments have the profit potential of penny stocks, which are stocks that trade under $5 per share.
Just take a look at Marathon Patent Group Inc. (Nasdaq: MARA). That penny stock climbed an astounding 341% during the four trading days of Thanksgiving week.
So today, we're giving you five of the top penny stocks to buy for January 2018 that all have massive upside.
While these stocks have huge profit potentials, you must keep in mind that penny stocks are speculative investments. They often see big pullbacks after making large gains.
No more than 2% of your stock portfolio should consist of such risky investments.
But if you're willing to take the risk, some of these stocks could bring you profits of over 300% in 2018.
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Now here's the first penny stock on our list today...
Penny Stocks to Buy for January 2018, No. 5: Viking Therapeutics
Currently trading at $4.52 per share, Viking Therapeutics Inc. (Nasdaq: VKTX) develops drugs to treat fatty liver disease and post-hip surgery rehabilitation. It has the highest share price of the penny stocks on our list today.
The company's lead clinical program VK5211 is currently in phase 2 clinical trials for post-hip surgery rehabilitation.
In 2017, Viking Therapeutics shares climbed an impressive 241% from $1.19 to $4.06.
The company announced positive initial results for VK5211's phase 2 clinical trials on Nov. 30. This drove up VKTX shares from $3.04 to $4.51 today (Jan. 2) for a gain of 48.35% in December.
The company's stock is covered by five firms with an average price target of $8.30, representing 84% upside from current levels, according to S&P Capital IQ.
Next up is a biotech company with a potentially "game-changing" technology in the fight against cancer...
Penny Stocks to Buy for January 2018, No. 4: Sorrento Therapeutics Inc.
San Diego-based Sorrento Therapeutics Inc. (Nasdaq: SRNE) develops drugs to treat certain types of cancer and chronic cancer pain.
On Jan. 6, company officials will present a new proprietary technology for the treatment of cancer. Analysts are calling this new technology a potential "game-changer."
Its stock currently trades at $4.30 and is covered by two firms with an average price target of $13.00, representing 202.32% upside from current levels, according to S&P Capital IQ.
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SRNE has beaten analysts' earnings expectations in the last two quarters.
The next penny stock on this list also develops treatments for cancer...
Penny Stocks to Buy for January 2018, No. 3: Sierra Oncology
Based in Canada, Sierra Oncology Inc. (Nasdaq: SRRA) develops DNA damage response treatments for cancer patients. The company's stock currently trades at $3.81.
The company's lead drug candidate SRA737 is in phase 1 clinical trials to treat patients with advanced cancer.
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In 2017, Sierra Oncology shares climbed 142.2% from $1.54 to $3.73.
SRRA shares really took off after the company reported stellar Q3 2017 earnings on Nov. 8. Shares climbed 93.26% from $1.93 that day to $3.73 by the end of the year.
During the company's Q3 2017 earnings call on Nov. 8, company officials said they would provide an update on SRA737's progress in February.
SRRA shares are covered by three firms and have an average price target of $4.33, with analysts at Wedbush Securities Inc. targeting $5. From the stock's current level at $3.81, those price targets represent 12.86% and 31.23% upside, respectively.
The company has beaten analysts' earnings expectations in the last two quarters.
Now, as promised, here are the final two stocks on this list. One has upside of nearly 300%...
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Penny Stocks to Buy for January 2018, No. 2: Neptune Technologies & Bioressources Inc.
Quebec-based Neptune Technologies & Bioressources Inc. (Nasdaq: NEPT) makes nutrition products like krill oil and seed oils. The company is looking to enter the cannabis oil extraction business instead of krill oil production.
In 2017, Neptune's shares climbed 143.3% from $0.97 to $2.36.
But NEPT shares really took off after the company reported stellar Q2 2017 earnings on Nov. 14. Shares climbed 131.37% from $1.02 that day to $2.36 by the end of the year.
During NEPT's Q2 earnings call on Nov. 14, company officials said the company successfully exited the krill oil business and authorized $5 million to adapt its facility for the extraction of cannabis oil.
This could be a watershed moment for Neptune as California legalized recreational cannabis on Jan. 1, and Canada is expected to legalize cannabis nationally this year as well.
Shares of NEPT are covered by Echelon Wealth Partners Inc. with a price target of $5.25, representing an upside of 116.9% from $2.42.
Last up is a penny stock currently trading for less than $2 per share...
Penny Stocks to Buy for January 2018, No. 1: OHR Pharmaceutical Inc.
Coming in at $1.82 per share is New York-based OHR Pharmaceutical Inc. (Nasdaq: OHRP). The company makes new therapeutics and technologies for the treatment of eye disease.
Its lead drug Sualamine is currently in phase 2 clinical trials for the treatment of retinal diseases like retinal vein occlusion.
OHRP's drug pipeline also includes treatments for glaucoma and eye allergies.
With a price target of $7, according to Roth Capital Partners LLC, OHRP shares have 284.6% upside. That means a small $100 stake in the stock could turn into $384, if the stock hits that mark.
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