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Penny Stocks To Watch For April 2021 If You Like Biotech

Hot Biotech Penny Stocks For April 2021’s Watch List
The post Penny Stocks To Watch For April 2021 If You Like Biotech appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Biotech Penny Stocks To Watch This Month

Are you making a list of penny stocks for the month? You might want to have some biotech names on it. This has become one of the most active sectors traders have put money in this year and for a good reason. Aside from the obvious implications that coronavirus treatment and presentation have had on biotech companies, many are developing novel treatments. Many of these treatments are designed to address unmet medical needs.

So when you talk about early-stage, biotech penny stocks are one of the truest forms. Is there a high risk? Of course, but that doesn’t come without the potential for high reward. One big finding in a phase trial can turn up the heat in a big way. Just look at companies like Novavax (NASDAQ: NVAX) or Greenwich LifeSciences (NASDAQ: GLSI) over the last year.

Both were traded as penny stocks at one point in 2020. Since then, NVAX stock reached highs of $331.68, and GLSI hit $158.07. Novavax’s move came over the course of several months. While Greenwich spiked up and dropped last year, this year has seen a bit more consistency in its trend.

Regardless of these moves, one thing holds for both. They were “emerging stage biotech companies” that scored big after key data was released. Now they are no longer penny stocks. But this clearly demonstrates how quickly things can change with trial results.

Biotech Penny Stocks To Watch For April 2021

Are all penny stocks with exposure to biotech these big breakout names? No, but more times than not over the last year, we’ve seen cheap stocks explode after companies report big news. Many have also stayed well above the $5 threshold of the penny stock definition. Whether it was a cancer treatment stock or one working on gene therapy, the biotechnology sector remains a core focus in the stock market today. Let’s take a look at four trending stocks today that could be worth watching in April.

Odonate Therapeutics Inc. (NASDAQ: ODT)

This has quickly become one of the more active penny stocks to watch for April. Odonate was something that we discussed earlier this week in light of recent market momentum.

Just like updates can trigger huge moves higher, they can also become a source of a massive sell-off. This was the case for Odonate a few weeks ago. The company went as far as saying it would wind down operations after discontinuing its tesetaxel platform for breast cancer treatment. Apparently, the clinical data for tesetaxel was “unlikely to secure approval” from the FDA, according to management.

The next focus for the company is on restructuring. In a company filing late last month, Odonate outlined its plan. The company said it estimates the restructuring will be complete by the end of June. Also, costs incurred in connection with the restructuring are roughly $14 million.

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As the market watches and waits, ODT stock has begun to reclaim some of the large losses incurred in March. It reached lows of $3.02 and now managed to bounce back as much as 64% reaching highs of $4.97 on Wednesday. But without any further news to point at, sentiment has likely begun playing a bigger role.

penny stocks to watch for april Odonate Therapeutics ODT stock chart

Qilian International Holding Group Ltd. (NASDAQ: QLI)

Another one of the biotech penny stocks that have pulled back over the last few months is Qilian International. The company IPOed earlier this year and ended up reaching a high of $22. Since then, it’s been a slow and steady slide back to lows of $4.20. This week, however, the market in QLI stock has woken up with trading activity at some of its highest levels since February. The penny stock also broke above $5 briefly on Wednesday. There weren’t any major headlines to mention associated with the move.

Is it just a move in sympathy with other biotech stocks today? For some context, Qilian is a pharmaceutical and chemical product manufacturer. Its main focus is on licorice products, oxytetracycline, and traditional Chinese medicine derivatives, among other things. Its licorice, oxytetracycline products, and traditional Chinese medicine products generated $32.6 million for its year ended September 2020. The company was also able to record a gross margin on these of 23.3%.

Qilian is also working on the expansion of its organic fertilizer arm. It completed the first phase of this plan in February, with production expected to begin last month. I mention this because in its financial update a few months ago, the company said it’s aiming to triple its production capacity. While no new updates have surfaced, the recent boost in trading action could be something to follow if QLI is on your list of penny stocks to watch right now.

penny stocks to watch for april Qilian International Holdings Group Ltd. QLI stock chart

Iterum Therapeutics (NASDAQ: ITRM)

One of the more frequently discussed biotech penny stocks to watch over the last few months is Iterum. If you look at the chart, ITRM stock gapped down aggressively in October but has since filled the gap and continued higher.

Why did ITRM stock drop? Iterum announced a multi-million-dollar funding round at a steep discount. Fast-forward to this year, and ITRM has reached highs of $3 and currently sits above $1.60 following the slide in biotech in March.

Right now, traders seem to be following the progress of its treatment pipeline. The company’s focus is on oral and IV antibiotics for infections caused by multi-drug resistant pathogens. Its lead treatment, sulopenem, is being studied in the treatment of uncomplicated urinary tract infections. Furthermore, a New Drug Application was filed in Q4 with the FDA. The review process has a Prescription Drug User Fee Act goal date of July 25th.

“We estimate that the market for this indication is approximately 6.5 million uUTIs caused by a quinolone non- susceptible organism annually in the U.S.,” said Corey Fishman, Chief Executive Officer in Iterum’s Q4 2020 business update. Following a hopefully successful outcome, Iterum is aiming to begin commercially launching in the fourth quarter.

[Read More] Top Penny Stocks Today To Add To Your April 2021 List

Analysts at H.C. Wainwright recently upgraded ITRM. The firm has a Buy rating on the stock along with a price target of $2.50. Heading into the rest of April, it’s going to be interesting to see the market’s reaction to the upcoming presentations at the Annual Needham Healthcare Conference, which happens next Thursday.

best penny stocks to watch for April Iterum Therapeutics ITRM stock chart

Are Biotech Penny Stocks A ‘Buy’ Right Now?

The ultimate question when deciding if penny stocks are worth it: will sector stocks be a “buy” right now? To be clear, biotechnology stocks are known for their volatile nature. As I explained above, one bit of news can trigger huge breakouts and massive sell-offs depending on the news. With these companies, many have already announced upcoming catalysts to be aware of. If these are on your list of penny stocks right now, it will be important to keep these in mind.

The post Penny Stocks To Watch For April 2021 If You Like Biotech appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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“Diamonds in the Rough” – Last Week’s Darlings and Dud

Each week in my DecisionPoint Diamonds reports, I give readers 10+ stock picks to consider. This week, we had 11 picks. I look for stocks that are beginning to show positive momentum, bullish chart patterns, breakouts and improving relative strength among

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Each week in my DecisionPoint Diamonds reports, I give readers 10+ stock picks to consider. This week, we had 11 picks. I look for stocks that are beginning to show positive momentum, bullish chart patterns, breakouts and improving relative strength among not only the SPX, but also against its industry group.

Today, I thought I would share three of last week's "Diamonds in the Rough." I have two "Darlings" and one "Dud." They aren't all winners and certainly are not "sure things," so I feel it is appropriate to show you the trade that didn't work out.

This week's "Darlings" come from the Biotech industry group, which really broke out this week. This week's "Dud" wasn't actually too bad. It was a timing issue, but it actually looks pretty good going forward. As part of a DP Diamonds subscription, you also get entrance into the Friday "Diamond Mine" where we review in detail the "Diamonds in the Rough" that presented for the week. I also take symbol requests and we look at BUY points for symbols with promise. An added bonus is that, at the end, we "mine" for new opportunities going into next week.

Below I have the "Diamonds in the Rough" as they were presented originally, followed by my comments on the chart today.

Darling #1:

Illumina, Inc. (ILMN) - Up +4.43% since 6/9


EARNINGS: 8/5/2021 (AMC)


Illumina, Inc. engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina segment, which serves customers in the research, clinical and applied markets, and enables the adoption of a variety of genomic solutions. The firm's products include instruments, kits and reagents, selection tools, software and analysis. Its services include sequencing and microarray services; proactive instrument monitoring; and instrument services, training and consulting. The company was founded by David R. Walt, John R. Stuelpnagel, Anthony W. Czarnik, Lawrence A. Bock and Mark S. Chee in April 1998 and is headquartered in San Diego, CA.

Below is the chart and commentary from Wednesday (6/9):

"ILMN is down -0.01% in after-hours trading. I was surprised I hadn't covered this one before. It's not as volatile as many of the biotechs out there. We have a nice breakout from a trading range. The breakout occurred Monday and price has held above support today and yesterday. The RSI is on the overbought side, so we should be aware of that. The PMO is on an oversold BUY signal and has now reached positive territory. There was a recent IT Trend Model "Silver Cross" BUY signal when the 20-EMA crossed above the 50-EMA. The OBV is confirming the rally and the SCTR is almost in the "hot zone" above 75, meaning it is in the upper quartile among all large-cap stocks. Outperformance is clear. I like that you can set a reasonable 7% stop."

Here is today's chart:

The biggest flaw is the overbought RSI, which is flattening out. ILMN needs to consolidate Thursday's breakout. It began to today, I still love this Biotech and you can tighten the stop more too. The SCTR is now in the "hot zone" above 75, meaning it is in the top quartile among its peers in the large-cap "universe." Also, regarding the SCTR, the calculations are heavily based on intermediate- and long-term indicators.


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Darling #2:

Novavax, Inc. (NVAX) - Up +2.31% since yesterday


EARNINGS: 8/9/2021 (AMC)

Novavax, Inc. focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It provides vaccines for COVID-19, seasonal flu, respiratory syncytial virus, Ebola and Middle East respiratory syndrome. The company was founded in 1987 and is headquartered in Gaithersburg, MD.

Here is the chart and commentary from Thursday (6/10):

"NVAX is up +0.16% in after hours trading. I covered NVAX as a Reader Request on July 30th, 2020. It hit its 9.2% stop when price dropped in August, so the position would be closed at this point. However, I like it today given the improvement in the Biotech space and knowing that this one is a leader based on the 98.9 SCTR. Today, price pulled back toward the breakout point. This took the RSI away from overbought territory. The PMO shows no damage and is now rising in positive territory on an oversold crossover BUY signal. Volume is coming in and, despite the pullback, the OBV didn't sustain much damage either. The stop is set below the August 2020 top."

Below is today's chart & commentary:

The trade still looks good and it isn't too late for entry. The RSI is positive and not overbought. The PMO is rising strongly on a BUY signal. Most interesting is the nearing of an IT Trend Model "Silver Cross" BUY signal, which will be triggered when the 20-EMA crossover above the 50-EMA. Join me in the free Trading Room on Monday and we'll explore the best BUY points! Register HERE if you haven't already.



Dud:


Dycom Industries, Inc. (DY) - Down -2.91% Since 6/8


EARNINGS: 8/25/2021 (BMO)


Dycom Industries, Inc. provides contracting services throughout the United States. Its services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including other construction and maintenance services to electric and gas utilities, and others. The company was founded in 1969 and is headquartered in Palm Beach Gardens, FL.

Below is the chart and commentary from Tuesday (6/8):

"DY is up +0.72% in after hours trading. I covered DY in the October 14th 2020 Diamonds Report. I didn't put a stop on the chart, but an 8% stop wouldn't have triggered even on the big gap down in November. This means that the position is up +26.7%. The end of May was killer for DY, but it is retracing the decline rapidly. The first of two gaps has now been covered. Today's rally pushed DY above the 20-EMA. The PMO had already begun to curl upward. The RSI isn't positive yet, but it is on its way. The industry group is outperforming the SPX and DY is outperforming both. The stop is set below the gap, right around the 200-EMA at $77.28."

Below is today's chart:

While a lot of things went wrong on this chart, everything still looks bullish, especially after today's strong rally. A short-term flag has formed. The PMO had a positive crossover today. The RSI is still negative, but it is rising again. The timing was just off for it to look good this week. However, if we revisit this chart later, I expect that flag will have resolved upward and we'll be challenging the highs from April and May.

 Happy Charting! - Erin


Technical Analysis is a windsock, not a crystal ball.


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DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

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EU adds another rare blood condition as side effect of AstraZeneca shot

Europe’s drug regulator on June 11 identified another rare blood condition as a potential side effect of AstraZeneca’s Covid-19 vaccine and said it was looking into cases of heart inflammation after inoculation with all coronavirus shots.

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EU adds another rare blood condition as side effect of AstraZeneca shot

(Reuters; )

Europe’s drug regulator on Friday identified another rare blood condition as a potential side effect of AstraZeneca’s (AZN.L) COVID-19 vaccine and said it was looking into cases of heart inflammation after inoculation with all coronavirus shots.

The European Medicines Agency’s (EMA) safety committee said that capillary leak syndrome must be added as a new side effect to labelling on AstraZeneca’s vaccine, known as Vaxzevria.

People who had previously sustained the condition, where fluids leak from the smallest blood vessels causing swelling and a drop in blood pressure, should not receive the shot, the EMA added.

The regulator first began looking into these cases in April and the recommendation adds to AstraZeneca’s woes after its vaccine was associated with very rare and potentially lethal cases of blood clotting that come with a low platelet count.

Last month, the EMA had advised against using the second AstraZeneca shot for people with that clotting condition, known as thrombosis with thrombocytopenia syndrome (TTS).

The committee reviewed six validated cases of capillary leak syndrome in people, mostly women, who had received Vaxzevria, including one death. Three had had a history of the condition.

A vial of AstraZeneca coronavirus vaccine is seen at a vaccination centre in Westfield Stratford City shopping centre, amid the outbreak of coronavirus disease (COVID-19), in London, Britain, February 18, 2021. REUTERS/Henry Nicholls/File Photo

AstraZeneca declined to immediately comment.

More than 78 million Vaxzevria doses have been administered in the European Union, Liechtenstein, Iceland & Norway and Britain.

Britain’s regulator, the MHRA said on Thursday it had received 8 reports of capillary leak syndrome in the context of more than 40 million doses of the AstraZeneca vaccine given, and currently does not see a causal link.

Separately, the EMA said it was continuing its probe into cases of heart inflammation known as myocarditis and pericarditis, primarily following inoculation with the Pfizer/BioNTech (PFE.N), (22UAy.DE) and Moderna mRNA shots, but also after the J&J (JNJ.N) and AstraZeneca vaccines.

U.S. health officials said on Thursday they had registered a higher-than-expected number of heart inflammation cases in young men who received a second dose of the mRNA shots, though a causal relationship could not be established. read more

Israel’s Health Ministry said this month it had found a likely link to the condition in young men who received the Pfizer/BioNTech shot. read more

Both Pfizer and Moderna have acknowldged the observations but said a causal association with their vaccines has not been established.

BioNTech said adverse events, including myocarditis and pericarditis, are being regularly and thoroughly reviewed by the companies and regulatory authorities.

“More than 300 million doses of the Pfizer-BioNTech COVID-19 vaccine have been administered globally and the benefit risk profile of our vaccine remains positive.”

The United States and Israel have been months ahead of the EU in vaccinating men below 30, who are particularly prone to heart inflammation, giving them potentially more cases to analyse.

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/eu-advises-against-astrazeneca-shot-people-with-rare-blood-condition-2021-06-11

 

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G7 Leaders Pledge 1 Billion Covid-19 Vaccines For Nations in Need

The summit of the Group of Seven industrialized nations in southwest England saw global leaders pledging at least 1 billion Covid-19 vaccines for underdeveloped countries and struggling nations.

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G7 Leaders Pledge One Billion COVID-19 Vaccines For Nations in Need

 

A most recent summit of the Group of Seven industrialized nations in southwest England saw global leaders pledging at least one billion COVID-19 vaccines for underdeveloped countries and struggling nations. Half of these doses will be shared by the U.S., while the U.K. has committed another 100 million shots.

The commitment to share these shots was announced during the session “Building Back Better From COVID-19.” During this session, President Joe Biden discussed with the G7 leaders – hailing from Canada, France, Germany, Italy, U.K. and Japan – that the U.S. will work alongside global partners to meet its goal of getting vaccines to those who need them most.

As reported by CTV News, pressure has been placed on the G7 leaders in recent months to develop a clear and workable vaccine-sharing strategy for poorer countries. The U.S., for instance, has reportedly accumulated a large stock of COVID-19 vaccines as the demand for inoculation has declined in the country.

In response, Biden said at the meeting that the U.S. plans to give up to 500 million vaccine doses to less privileged nations that currently lack widescale access. This is in addition to the 80 million doses the U.S. already committed to sharing with these countries by the end of this month. Biden also outlined a coordinated effort by each of the G7 countries to improve vaccine availability. 

British Prime Minister Boris Johnson reportedly said that 5 million does from the U.K. will be shared in the next few weeks, while the remaining vaccines will be disseminated over the next year. Johnson added that he expects the G7 leaders to commit up to 1 billion when all is said and done.

“At the G7 Summit I hope my fellow leaders will make similar pledges so that, together, we can vaccinate the world by the end of next year and build back better from coronavirus,” said Johnson in a statement, as reported by AP News.

Source: BioSpace

Likewise, French President Emmanuel Macron noted that France would share at least 30 million of its COVID-19 vaccines by the end of 2021.

For its part in the global vaccine-sharing effort, the U.S. plans to purchase and distribute 500 million doses of Pfizer/BioNTech’s mRNA COVID-19 vaccine. The distribution will be accomplished through the global COVAX alliance and will go toward 92 lower-income nations as well as the African Union. 

According to Biden, the vaccine doses will be shipped to these countries in August, with up to 200 million distributed across the globe by 2021’s end. The other 300 million vaccine doses will be distributed in the first half of next year. As such, the U.S. represents COVAX’s largest vaccine donor and single largest funder set at a $4 billion pledge.

The vaccine-sharing commitment by the G7 leaders is welcome news, considering the global COVAX alliance experienced a slow start to its inoculation campaign. 

To date, the alliance has distributed approximately 81 million vaccine doses across the world, but parts of Africa and other regions have largely been unable to gain access to these doses. Only France has so far started shipping its vaccines through the COVAX alliance. 

On Thursday, Biden said that a part of the 80 million doses the country had committed to donation were already being distributed. Additionally, the U.S. has provided Mexico and Canada a few million COVID-19 vaccines.

 
BioSpace source:
 
 
 

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