Two Penny Stocks That Could Rally Past $10 (Or More!)
Penny stocks is the kind of stock you take with a grain of salt. These stocks tend to be extremely volatile and can be unpredictable. If you have seen the movie, The Wolf of Wallstreet, you will know that these stocks became glamourized and a theoretical gold rush happened. I say this not to discourage you but for you to research the companies you will be buying stocks. This is understood for any investment you do, but penny stocks more so. Do your research first. In addition, a brief definition of a penny stock is any stock less than $1 and up to $5 per share.
Now, with what I said above is out of the way, let me introduce to you a couple stocks that could potentially be worth buying. Disclaimer, I am not a licensed broker so please consult one.
Penny Stock #1 – Milestone Pharmaceuticals (MIST)
Milestone Pharmaceuticals is a clinical-stage biopharma firm whose focus is on cardiac issues. They are working on innovative therapy for cardiovascular conditions. They are trying to bridge the gap that is currently out there, as with any cardiac event, it leads to an ER visit. Milestone Pharmaceuticals is trying to develop an at-home treatment for patients living with hearth rhythm disturbances.
To achieve this massive undertaking, they are collaborating with Etripamil. This new drug is designed for the treatment of PSVT, as well as atrial fibrillation. Most treatments require administration by a trained medical professional, usually at a hospital or clinic. This drug however, is designed to be self-administered by the patient.
The progress Milestone has made is supported by two clinical programs, including phase 2 trials of Etripamil. The company published positive Phase 3 data, showcasing 64.3% of patients who used the drug, showing a return to normal sinus rhythm. Typically, patients reported that within 30 minutes they were back to normal compared to 31.2% of patients on the placebo.
The company said they are forecasting $668 million in U.S. peak sales by 2030. Right now, the stock price is $3.12 per share but analysts predict the share price could reach $17.
Penny Stock #2 – Beyond Air (XAIR)
Next on the list is Beyond Air. This biotech medical research company is working on new treatments for severe lung conditions. The company’s mode of treatment involves the use of nitric oxide, when mixed with common air is used to treat lung infections, chronic obstructive pulmonary disease (COPD), pulmonary hypertension and some solid tumor cancers.
The company’s treatment is based on its proprietary LungFit device. This device is used to generate nitric oxide from the room’s air. This is made possible because the nitric oxide is made up of nitrogen and oxygen, common components of our atmosphere.
The FDA has given approval to LungFitPH system to be used. Currently, the company is operating in phases where phase 1 is the commercialization of the product by contracting with hospitals. Phase 2 of commercialization is expansion of the team to expand the release of the product.
The current share price is $3.66 and the some analysts predict the share price will jump to $10. They are confident of a 209% boost in price. Some analysts are more optimistic and predict the shares will have a $12.75 average price target.
Should you buy?
I cannot answer this for you. Penny stocks are a risky investment. I would do extensive research and consult a licensed broker for more information.
