Some investors are skeptical about penny stocks under $1. After all, how cheap is too cheap? Is it true that you get what you pay for in the world of stocks? Here are two penny stocks under $1 in the pharmaceutical sector that could be worth your time researching.
Penny Stocks Under $1: AVEO Pharmaceuticals Inc.
Selling for $0.61 USD on the NASDAQ exchange, AVEO Pharmaceuticals (NASDAQ:AVEO) is in the midst of a lull at present. Towards the end of 2018, these shares were selling above $3.50 USD. The current price tells you how much value AVEO stock has lost in a short period of time. However, the current price could represent an undervalued position.
According to its website:
“AVEO Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to advancing a broad portfolio of targeted medicines for oncology and other areas of unmet medical need.”
Effectively, AVEO is developing treatments for cancer patients with its lead candidate being “tivozanib.” It is looking to develop and commercialize this in North America as “a treatment for advanced or metastatic renal cell carcinoma.”
As with most companies in the pharmaceutical sector, it only takes one ‘Eureka!’ moment/drug to see a total turnaround. At only $0.60 USD right now, there could be upside potential here.
Penny Stocks Under $1: Viveve Medical
The Viveve Medical (NASDAQ:VIVE) penny stock has been toggling the $1 mark for some weeks now. A constant sway around $0.99 cents sees these shares on the lower side of what they are capable of. Like AVEO above, in late 2018, VIVE shares were selling for above $3.60 USD.
But it seems analysts are bullish on VIVE’s future prospects. According to Marketbeat, the company has been given a consensus rating of “BUY” by 6 research firms that are covering it at present. Further, it has been given an “average twelve-month target price” of $5.20. It’s hard to predict which way any stock is going to go, but further research may have you adding this company to your portfolio.
According to its website, Viveve Medical designs, develops, and manufactures medical devices for non-invasive treatment of a variety of post-partum conditions. Its flagship product is the Viveve System, which includes “a radio frequency generator, a reusable handpiece, and single-use treatment tip, as well as other consumable accessories.”
These pharma penny stocks may offer potential if you are willing to take the risk. As always do your research and be careful picking the right stocks for you!
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