What, according to you, is penny stocks? There are a few definitions by which investors define penny stocks. Some stick to the idea that penny stocks are those that trade below $1. This was the traditional definition of a penny stock, and the one you’re most likely to see. Others use market capitalization.
There remains no consensus as to the “true” definition of a penny stock. But they remain popular, as they are inexpensive and often volatile. That volatility means that investors can potentially receive very quick gains. Yes, that is of course balanced by substantial risk, but the fact remains that penny stocks will always be alluring. List below will include those penny stocks which have the potential for 10X gains. Let’s see at them.
Protagenic Therapeutics (PTIX)
Traditionally, biotech companies seek to commercialize therapeutics which alleviate problems related to physical health. But recently, there has been an increasing focus on the mind, stress and mood disorders, which wasn’t really the case a few years ago.
That is where Protagenic Therapeutics focuses its efforts. The company engages in the development of therapeutics for stress-related neuropsychiatric and mood disorders. Recent studies by the Cleveland Clinic indicate that stress is on the rise, likely confirming what many already suspected — the pandemic has lead to higher stress.
This is a strong indication that Protagenic Therapeutics could be pivotal in mental health therapeutics in the future. The company is specifically seeking to dominate a target market it estimates at $20 billion for its lead candidate, PT00114.
That lead molecule has shown strong safety and efficacy in preclinical models, and should be in a Phase I/IIa trial by Q3 of this year. PT00114 has shown efficacy in the “reversal of depression, stress-exacerbated anxiety, excessive startle, drug seeking, and opioid withdrawal.” If PT00114, as the company expects, receives Breakthrough Designation from the FDA it’s easy to see how it could indeed multiply in price 10X.
Mind Medicine (MNMD)
Mind Medicine is, like Protagenic Therapeutics, focused on the development of neuropharmaceuticals. The company, however, deals with psychedelics.
It would have been much more difficult, if not impossible, to find an investment like Mind Medicine a decade ago. Part of Mind Medicine’s allure is its novelty and potential for quick gains that it brings. Investors are aware of MNMD stock and what it is potentially offering from a risk/reward standpoint. The stock has gained significant traction since mid-September. It has risen from 33 cents at that time, to just under $4 per share now. And given the speed with which biotech companies rise upon meeting regulatory approval, it isn’t hard to imagine that MNMD stock could multiply by 10 times from its current price.
Mind Medicine offers experiential therapy in which LSD is administered to produce a psychedelic effect under medical supervision. Patients receive therapy in this setting to help them deal with mental health issues. The company is focused on treating anxiety, addiction, and adult ADHD. It also is developing and researching novel compounds in this new area.
Mind Medicine sees the addressable market as being one that could grow to $16 trillion in size by 2030. The company’s experiential LSD therapies are currently in Phase 2b. If Mind Medicine truly establishes itself as the pioneer in this field, there is almost no doubt it will return 10X gains to investors who are on board now.
Just as there is an increasing demand for joint replacements, so too is there a growing demand for diabetes management solutions. That is where Senseonics could indeed make investors strong returns in the coming quarters and years.
Senseonics Holdings has created the first long-term, continuous glucose monitoring system for managing diabetes. The system consists of a sensor (implanted under the skin), a removable transmitter which sends data every 5 minutes, and a mobile app for users to view their data at any time.
Unfortunately, as many readers will be aware, diabetes is on the rise in the U.S. and globally.
Globally, the number of people with diabetes increased from 108 million to 422 million between 1980 and 2014 according to the World Health Organization. And recent estimates by the CDC indicate that 10.5% of the U.S. population currently has diabetes.
Companies which can best help patients manage the disease stand to benefit the most. Senseonics recently released results from the PROMISE study which demonstrated the accuracy of its 180 day continuous glucose monitoring system.
SENS stock currently trades for roughly $3.60 per share and has already multiplied in value in 2021. In early January, shares traded for under $1. It’s clear that there’s lots of room for SENS stock to move upward and now is a smart time to establish a position.
Likewise, other penny stocks are listed below. You can aslo check them out.
-NexGen Energy (NXE)
-Elys Game Technology Corp. (ELYS)
-Sesen Bio (SESN)