Penny stocks are a very alluring prospect for some investors, and it’s pretty obvious why. The possibility of flipping a low buy-in for a sizeable gain is what many investors play the game for. Of course, it’s very difficult to predict which way these shares are going to go. Sudden changes happen all the time with cheap stocks under $5, but some investors love that excitement. If you are a lover of penny stocks, then here are two on the radar worth a look: Endologix and Iveric Bio.
Endologix Inc (NASDAQ:ELGX)
If you’re looking for a safer bet in the penny stock market, look no further than Endologix. This company manufactures minimally invasive treatments for aortic disorders, like stents, which are always going to be in demand because much-needed health services will always remain unaffected by external economic conditions. ELGX stock has actually been on the slide for most of the year but has shown signs of recovery in recent weeks, which means now could be an opportunity while the stock’s at a low ebb.
Investors may have been spooked by Endologix’s $25 million USD net loss in the previous quarter; however, the company has an asset position of $324 million USD, which dwarves those losses in perspective. ELGX shares are currently trading at $2.69, and have gained 16% in the last week.
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Iveric Bio Inc (NASDAQ:ISEE)
Playing it safe again, we’ve gone with another biotech penny stock. Iveric Bio develops novel technology to treat retinal diseases, and last week the stock more than doubled after the release of clinical data for its key treatment, Zimura, proved the drug to be highly effective in treating Dry AMD—a degenerative retinal disorder. That data brought about a massive rally in ISEE stock, which gained an eyewatering 320% in a little over a week. Still, those gains only brought the stock to $3.90 and could be set for further growth, depending on the commercialization of the treatment.
ELGX and ISEE are definitely two of the more reliable penny stocks, but that doesn’t mean they won’t be prone to volatility. Are there any other penny stocks that have caught your eye?
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