In this article, we will be looking at the 15 best penny stocks to buy now. If you want to see our detailed analysis about these penny stocks, go directly to the 15 Best Penny Stocks to Buy Now.
5. Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
Share Price as of July 9: $3.53
Number of Hedge Fund Holders: 8
Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is an American biopharmaceutical company that offers novel drugs specializing in hematology and oncology. The company ranks 5th on our list of the best penny stocks to buy now. In March, Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) received a grant from the FDA to fast-track the treatment of non-small cell lung cancer (NSCLC) in previously treated patients with HER2 exon 20 mutations.
In the first quarter of 2021, Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) reported a $0.25 loss per basic and diluted share as compared to $0.36 loss per basic and diluted share in the same period of 2020. The company reported a net loss of $35.7 million from $40.6 million in the same period of 2020. The stock has gained 14% in the past 3 months and 3% year to date. Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) currently has a market cap of $570 million and a 52-week high of $5.24.
4. Cyclerion Therapeutics, Inc. (NASDAQ: CYCN)
Share Price as of July 9: $3.72
Number of Hedge Fund Holders: 9
Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) is a provider of specialty pharmaceutical products that focuses on serious central nervous system (CNS) diseases. The company ranks __th on our list of the best penny stocks to buy now. This July, Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) collaborated with Beacon Biosignals to identify disease-relevant biomarkers to optimize patient selection and endpoints to drive trial development in the company’s investigational therapeutics for neurological diseases associated with cognitive impairment.
In the full year 2020, Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) reported a net loss of $77.8 million as compared to $123.0 million in the full year 2020. The stock has gained 30% in the past 3 months and 21% year to date. Cyclerion Therapeutics, Inc. (NASDAQ: CYCN) currently has a market cap of $150 million and a 52-week high of $3.8.
3. Sesen Bio, Inc. (NASDAQ: SESN)
Share Price as of July 9: $4.07
Number of Hedge Fund Holders: 11
Sesen Bio, Inc. (NASDAQ: SESN) is a provider of targeted protein therapeutics (TPT) specializing in antibody-drug conjugate for cancer treatment. The company ranks 3rd on our list of the best penny stocks to buy now. In February, Canaccord Genuity maintained a Buy rating on Sesen Bio, Inc. (NASDAQ: SESN) and raised the price target to $7.
In the first quarter of 2021, Sesen Bio, Inc. (NASDAQ: SESN) had an EPS of $0.15. The company’s cash equivalents and restricted cash were $110 million as compared to $55.4 million in the prior quarter. The stock has gained 61% in the past 3 months and 201% year to date.
2. CBAK Energy Technology, Inc. (NASDAQ: CBAT)
Share Price as of July 9: $4.31
Number of Hedge Fund Holders: 4
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a developer of standard and customized lithium-ion (Li-ion) batteries across the globe. The company ranks 2nd on our list of the best penny stocks to buy now. This January, CBAK Energy Technology, Inc. (NASDAQ: CBAT) entered a partnership with Anhui Jianghuai Automobile Group Corp., Ltd. (JAC Motors). The partnership allowed the companies to work together in creating cylindrical lithium-ion batteries and battery packs.
In the first quarter of 2021, CBAK Energy Technology, Inc. (NASDAQ: CBAT) had an EPS of $0.35 compared to $0.04 in the same period of the previous year. The company’s net revenue was $9.46 million, up from $6.90 million in the same period of 2020. The stock has gained 278% in the past year. CBAK Energy Technology, Inc. (NASDAQ: CBAT) currently has a market cap of $380 million and a 52-week high of $11.4.
1. Onconova Therapeutics, Inc. (NASDAQ: ONTX)
Share Price as of July 9: $6.20
Number of Hedge Fund Holders: 10
Onconova Therapeutics, Inc. (NASDAQ: ONTX) is a provider of novel drugs that are developed for anti-cancer agents. The company ranks 1st on our list of the best penny stocks to buy now. Onconova Therapeutics, Inc. (NASDAQ: ONTX) currently has an ongoing partnership with Specialised Therapeutics Asia (“STA”) which grants STA to distribute in parts of Australia and New Zealand. The stock’s coverage was initiated coverage in May by Guggenheim, with a Buy rating and a $4 price target.
In the first quarter of 2021, Onconova Therapeutics, Inc. (NASDAQ: ONTX) had an EPS of $2.10. The company’s cash and cash equivalents were $48.0 million, from $19.0 million compared to the previous quarter. Onconova Therapeutics, Inc. (NASDAQ: ONTX) has a market cap of $97.8 million and a 52-week high of $28.95.
You can also take a peek at 14 Best European Dividend Stocks To Buy and 10 Best Technology Stocks That Pay Dividends.
