5 Penny Stocks with Upcoming Growth Catalysts

3. AzurRx BioPharma, Inc. (NASDAQ: AZRX)

Number of Hedge Fund Holders: 4  

AzurRx BioPharma, Inc. (NASDAQ: AZRX) is a Florida-based biopharmaceutical company that concentrates on the development of recombinant proteins for the treatment of gastrointestinal diseases. It is ranked third on our list of 10 penny stocks with upcoming growth catalysts.

Earlier this week, AzurRx BioPharma, Inc. (NASDAQ: AZRX) announced that it had agreed to purchase First Wave Bio, a Michigan-based biopharma firm, in a deal worth $229 million. The company will rebrand as First Wave BioPharma and debut on the market in late September. 

At the end of the second quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $359,000 in AzurRx BioPharma, Inc. (NASDAQ: AZRX), up from 2 in the preceding quarter worth $143,000.