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Best Biotech Penny Stocks to Buy in November? 3 to Watch Now

Which biotech penny stocks are you watching this month?
The post Best Biotech Penny Stocks to Buy in November? 3 to Watch Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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3 Biotech Penny Stocks to Watch in Mid-November 2021 

Biotech penny stocks remain some of the most popular stocks of the past year and a half. While the pandemic highlighted the biotech industry at first, we are still seeing the effects of this over one year after it began. But, not all penny stocks in the biotech industry will have value. Rather, investors need to do the proper due diligence to find which companies could have momentum in the future. 

On one hand, we have companies that produce compounds and medicines. These are the most classic examples of a pure-play biotech stock. On the other hand, we have companies that produce medical tech devices, wearables, diagnostic tests, and more. While these are also pure-play biotech stocks, they can have a different exposure to the market. 

[Read More] Best Penny Stocks to Watch in Mid-November 2021

With both, it’s important to consider whether it has approved products for sale alongside revenue and a sizable pipeline. This will help to identify whether or not it could have potential in either the short or long term. With so many biotech penny stocks out there, the choices are almost limitless. Considering that, let’s take a look at three to watch in November. 

3 Biotech Penny Stocks For Your November List 

  1. Asensus Surgical Inc. (NYSE: ASXC)
  2. Alzamend Neuro (NASDAQ: ALZN) 
  3. Progenity Inc. (NASDAQ: PROG)

Asensus Surgical Inc. (NYSE: ASXC)

Asensus Surgical Inc. is a medical device robotics company that conducts research and develops and sells medical device robotics. Its devices are designed to improve minimally invasive surgery. The business aims to create a digital link between the surgeon and the patient. Its Senhance Surgical system is a robotic surgery technology that allows up to four arms to manipulate robotic tools and a camera during operation. In addition, it offers the SurgiBot System which is a robotically augmented single-port laparoscopic surgical platform.

On November 3rd, Asensus reported its operating and financial results for the third quarter of 2021. The company announced a record quarter for procedures performed using Senhance Surgical Systems. This quarter showed a 47% increase over the previous year. Now the company has initiated four new Senhance Surgical Programs collectively in Russia and Japan.

“We are very proud of our recent performance as we continued to make significant progress towards our strategic focus areas despite the meaningful challenges we faced during the quarter as a result of the most recent COVID spike which impacted all of our key geographies.”

President and CEO of Asensus Surgical, Anthony Fernando

In the past five days, shares of ASXC stock have shot up by over 24% and YTD by over 79%. These are solid gains and reflect the emphasis on the biotech industry and ASXC’s business model. Considering this, will it be on your penny stocks watchlist?

Alzamend Neuro Inc. (NASDAQ: ALZN)

Alzamend Neuro Inc. is another biotech penny stock that has been climbing in several recent trading sessions. In the past five days, shares of ALZN stock have shot up by over 35%. If you’re not familiar, this company creates products for treating psychiatric disorders and neurodegenerative diseases. Its preclinical trials include AL001 for treating Alzheimer’s and other related diseases. Additionally, Alzamend is developing AL002 which is for restoring the ability of a patient’s immunological systems to combat Alzheimer’s.

[Read More] Penny Stocks to Buy Now? 5 Reddit Stocks To Watch This Week

In September, Alzamend received a positive Pre-IND response from the FDA for AL002. This is a written response to its meeting request related to its Type B Pre-Investigational New Drug application. Now the FDA has agreed after a proposal that Alzamend should conduct a Phase 1 / 2 study on AL002. The company plans to proceed with this study, which is likely the major reason for its recent gains.

“We appreciate the thorough and meaningful response from the FDA, which provides us with the information and clarity needed to submit the IND application to initiate a clinical trial for AL002. Preclinical work supports AL002 being associated with a positive anti-inflammatory response and a decrease in brain amyloid contents.”

The CEO of Alzamend, Stephan Jackman

Considering this, it will be interesting to see what the results of this trial are. Whether that makes ALZN stock worth adding to your list of penny stocks is up to you. 

Penny_Stocks_to_Watch_Alzamend_Neuro_Inc

Progenity Inc. (NASDAQ: PROG)

Progenity Inc. is a biotech penny stock that has continued to climb in both value and popularity in the past month or so. During that time, shares of PROG stock have shot up by over 160% despite a YTD loss of over 30%. This major monthly gain is one of the reasons that so many investors are paying attention to PROG stock right now. If you’re not familiar, this company creates molecular testing products for the United States market. Progenity is involved in the commercialization and development of its products. 

One of the main focuses from investors is Progenity’s Covid testing services. While Covid cases have been declining in the past few weeks, the demand for testing has remained high. As a result, many investors are looking for opportunities related to Covid testing. On the other hand, Progenity’s main product is Innatal, which is a prenatal screening test for women in early pregnancy to look for chromosome abnormalities. This is its flagship product, and remains one of the major sources of revenue for the company.

On the 3rd of November, Progenity announced the release date for its third quarter of 2021 financial results and a corporate update. These results and the update will be released on Wednesday, November 10th, 2021. This will take place after the market closes, and a conference call will follow shortly after.

Financial results and corporate updates can often have a large impact on all stocks. And ahead of results, we often see movements in either direction as anticipation looms. With higher than average volume in the past few weeks, it’s clear that PROG’s popularity is not going anywhere anytime soon. Keeping this in mind, will PROG stock be on your November watchlist?

Penny_Stocks_to_Watch_Progenity_Inc

Which Biotech Penny Stocks Are You Watching?

Finding the best biotech penny stocks to buy can be challenging. But, if investors pay close attention to the news, it can be easy to spot where potential momentum could be.

[Read More] 3 Penny Stocks To Add to Your Watchlist This Month November

As with all stocks, news is extremely important and can be a major driver of price. So, with that in mind, which biotech penny stocks are you watching right now?

The post Best Biotech Penny Stocks to Buy in November? 3 to Watch Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

Two years ago, we first said that it’s only a matter…

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March 19, 2024

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There Goes The Fed's Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

Two years ago, we first said that it's only a matter of time before the Fed admits it is unable to rsolve the so-called "last mile" of inflation and that as a result, the old inflation target of 2% is no longer viable.

Then one year ago, we correctly said that while everyone was paying attention elsewhere, the inflation target had already been hiked to 2.8%... on the way to even more increases.

And while the Fed still pretends it can one day lower inflation to 2% even as it prepares to cut rates as soon as June, moments ago Goldman published a note from its economics team which had to balls to finally call a spade a spade, and concluded that - as party of the Fed's next big debate, i.e., rethinking the Neutral rate - both the neutral and terminal rate, a polite euphemism for the inflation target, are much higher than conventional wisdom believes, and that as a result Goldman is "penciling in a terminal rate of 3.25-3.5% this cycle, 100bp above the peak reached last cycle."

There is more in the full Goldman note, but below we excerpt the key fragments:

We argued last cycle that the long-run neutral rate was not as low as widely thought, perhaps closer to 3-3.5% in nominal terms than to 2-2.5%. We have also argued this cycle that the short-run neutral rate could be higher still because the fiscal deficit is much larger than usual—in fact, estimates of the elasticity of the neutral rate to the deficit suggest that the wider deficit might boost the short-term neutral rate by 1-1.5%. Fed economists have also offered another reason why the short-term neutral rate might be elevated, namely that broad financial conditions have not tightened commensurately with the rise in the funds rate, limiting transmission to the economy.

Over the coming year, Fed officials are likely to debate whether the neutral rate is still as low as they assumed last cycle and as the dot plot implies....

...Translation: raising the neutral rate estimate is also the first step to admitting that the traditional 2% inflation target is higher than previously expected. And once the Fed officially crosses that particular Rubicon, all bets are off.

... Their thinking is likely to be influenced by distant forward market rates, which have risen 1-2pp since the pre-pandemic years to about 4%; by model-based estimates of neutral, whose earlier real-time values have been revised up by roughly 0.5pp on average to about 3.5% nominal and whose latest values are little changed; and by their perception of how well the economy is performing at the current level of the funds rate.

The bank's conclusion:

We expect Fed officials to raise their estimates of neutral over time both by raising their long-run neutral rate dots somewhat and by concluding that short-run neutral is currently higher than long-run neutral. While we are fairly confident that Fed officials will not be comfortable leaving the funds rate above 5% indefinitely once inflation approaches 2% and that they will not go all the way back to 2.5% purely in the name of normalization, we are quite uncertain about where in between they will ultimately land.

Because the economy is not sensitive enough to small changes in the funds rate to make it glaringly obvious when neutral has been reached, the terminal or equilibrium rate where the FOMC decides to leave the funds rate is partly a matter of the true neutral rate and partly a matter of the perceived neutral rate. For now, we are penciling in a terminal rate of 3.25-3.5% this cycle, 100bps above the peak reached last cycle. This reflects both our view that neutral is higher than Fed officials think and our expectation that their thinking will evolve.

Not that this should come as a surprise: as a reminder, with the US now $35.5 trillion in debt and rising by $1 trillion every 100 days, we are fast approaching the Minsky Moment, which means the US has just a handful of options left: losing the reserve currency status, QEing the deficit and every new dollar in debt, or - the only viable alternative - inflating it all away. The only question we had before is when do "serious" economists make the same admission.

They now have.

And while we have discussed the staggering consequences of raising the inflation target by just 1% from 2% to 3% on everything from markets, to economic growth (instead of doubling every 35 years at 2% inflation target, prices would double every 23 years at 3%), and social cohesion, we will soon rerun the analysis again as the implications are profound. For now all you need to know is that with the US about to implicitly hit the overdrive of dollar devaluation, anything that is non-fiat will be much more preferable over fiat alternatives.

Much more in the full Goldman note available to pro subs in the usual place.

Tyler Durden Tue, 03/19/2024 - 15:45

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Household Net Interest Income Falls As Rates Spike

A Bloomberg article from this morning offered an excellent array of charts detailing the shifts in interest payment flows amid rising rates. The historical…

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March 19, 2024

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A Bloomberg article from this morning offered an excellent array of charts detailing the shifts in interest payment flows amid rising rates. The historical anomaly was both surprising and contradicted our priors.

10 Key Points:

  1. Historical Anomaly: This is the first time in the last fifty years that a Federal Reserve rate hike cycle has led to a significant drop in household net interest income.
  2. Interest Expense Increase: Since the Fed began raising rates in March 2022, Americans’ annual interest expenses on debts like mortgages and credit cards have surged by nearly $420 billion.
  3. Interest Income Lag: The increase in interest income during the same period was only about $280 billion, resulting in a net decline in household interest income, a departure from past trends.
  4. Consumer Debt Influence: The recent rate hikes impacted household finances more because of a higher proportion of consumer credit, which adjusts more quickly to rate changes, increasing interest costs.
  5. Banks and Savers: Banks have been slow to pass on higher interest rates to depositors, and the prolonged period of low rates before 2022 may have discouraged savers from actively seeking better returns.
  6. Shift in Wealth: There’s been a shift from interest-bearing assets to stocks, with dividends surpassing interest payments as a source of unearned income during the pandemic.
  7. Distributional Discrepancy: Higher interest rates benefit wealthier individuals who own interest-earning assets, whereas lower-income earners face the brunt of increased debt servicing costs, exacerbating economic inequality.
  8. Job Market Impact: Typically, Fed rate hikes affect households through the job market, as businesses cut costs, potentially leading to layoffs or wage suppression, though this hasn’t occurred yet in the current cycle.
  9. Economic Impact: The distribution of interest income and debt servicing means that rate increases transfer money from those more likely to spend (and thus stimulate the economy) to those less likely to increase consumption, potentially dampening economic activity.
  10. No Immediate Relief: Expectations for the Fed to reduce rates have diminished, indicating that high-interest expenses for households may persist.

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TJ Maxx and Marshalls follow Costco and Target on upcoming closures

Many of these stores have information customers need to know.

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6 hours ago

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March 19, 2024

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U.S. consumers have come to increasingly rely on the near ubiquity of convenience stores and big-box retailers. 

Many of us depend on these stores being open practically all day, every day, even during some of the biggest holidays. After all, Black Friday beckons retail stores to open just hours after a Thanksgiving Day dinner in hopes of attracting huge crowds of shoppers in search of early holiday sales. 

Related: Walmart announces more store closures for 2024

And it's largely true that before the covid pandemic most of our favorite stores were open all the time. Practically nothing — from inclement weather to bad news to holidays — could shut down a major operation like Walmart  (WMT)  or Target  (TGT) . 

Then the pandemic hit, and it turned everything we thought we knew about retail operations upside down. 

Everything from grocery stores to shopping malls shut down in an effort to contain potential spread. And when they finally reopened to the public, different stores took different precautionary measures. Some monitored how many shoppers were inside at once, while others implemented foot-traffic rules dictating where one could enter and exit an aisle. And almost every one of them mandated wearing masks at one point or another. 

Though these safety measures seem like a distant memory, one relic from the early 2020s remains firmly a part of our new American retail life. 

A woman in a face mask shopping in the HomeGoods kitchen aisle.

Jeff Greenberg/Getty Images

Store closures announced for spring 2024

Many retailers have learned to adapt after a volatile start to this third decade, and in many ways this requires serving customers better and treating employees better to retain a workforce. 

In some cases, the changes also reflect a change in shopping behavior, as more customers order online and leave more breathing room for brick-and-mortar operations. This also means more time for employees. 

Thanks to this, big retailers have recently changed how they operate, especially during holiday hours, with Walmart recently saying it would close during Thanksgiving to give employees more time to spend with loved ones.

"I am delighted to share that once again, we'll be closing our doors for Thanksgiving this year," Walmart U.S. CEO John Furner told associates in a video posted to Twitter in November. "Thanksgiving is such a special day during a very busy season. We want you to spend that day at home with family and loved ones." 

Other retailers have now followed suit, with Costco  (COST) , Aldi, and Target all saying they would close their doors for 24 hours on Easter Sunday, March 31. 

Now, the stores that operate under TJX Cos.  (TJX)  will also shut down during the holiday, including HomeGoods, TJ Maxx and Marshalls. 

Though it closed on Thanksgiving, Walmart says it will remain open for shoppers on Easter. 

Here's a list of stores that are closing for Easter 2024: 

  • Target
  • Costco
  • Aldi
  • TJ Maxx
  • Marshalls
  • HomeGoods
  • Publix
  • Macy's
  • Best Buy
  • Apple
  • ACE Hardware

Others are expected to remain open, including:

  • Walmart
  • Ikea
  • Petco
  • Home Depot

Most of the stores closing on Sunday will reopen for regular business hours on Monday. 

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