Today, we’re looking at some of the most promising penny stocks as their multiple catalysts play out. With a strong buy rating and a HUGE price target, NuCana plc (NASDAQ: NCNA) is no doubt the #1 hot penny stock to be watching today!! In addition to this play, we’re also watching 2 of the TOP Monkeypox stocks – SIGA Technologies, Inc. (NASDAQ: SIGA) & Co-Diagnostics, Inc. (NASDAQ: CODX). As more cases resurface each day, these promising monkeypox stocks are quickly climbing up investors’ watchlists!!
NCNA: Analyst Price Target & Strong Buy Rating
Ever since the German Court ruled in its favor, NuCana plc (NASDAQ: NCNA) has been on a 3-day run and continues to garner major attention from investors. Let’s rewind. Dating back to May 2022, research-based biopharma company – Gilead – unsuccessfully challenged the validity of NCNA’s ‘190 patent at the Opposition Division of the European Patent Office in 2021. However, NCNA appears to have filed the ‘190 patent back in 2003, with claims covering a small group of phosphoramidite nucleotides – such as sofosbuvir, the active ingredient of Sovaldi.
As of July 11th, the regional court of Dusseldorf ruled in favor of NCNA, stating that the company – Gilead Sciences – has infringed NCNA’s matter composition claims in European Patent 2955190 by selling combination products Harvoni, Vosevi, and Epclusa across Germany.
It is important to mention that this is not the only lawsuit Gilead filed against NCNA. In fact, back in February of 2021, Gilead UK filed a lawsuit in the Patents court with the goal of revoking NCNA’s 190 patent UK designation. It’s no surprise NCNA also counterclaimed for infringement through the sale of Sovaldi and its combination products. Despite the fact that the UK proceedings are still ongoing, this recent announcement has ignited investors’ confidence in NCNA’s future once again.
In light of these developments, analysts have offered 12-month price targets for NCNA in the last 3 months. With an average price target of $5, NCNA could see new highs and major growth in 2022.
But what’s it trading at now?
On an uptrend, NCNA is now trading at its resistance of $1.36 with strong support near .67 and .6. Accumulation is steady after a steep overnight run-up and the MACD is bullish to the upside with no signs of a reversal any time soon. Similarly, the RSI is at 80 and is trending upwards – indicating the stock is extremely overbought at the moment.
With a $5 analyst price target, it is no surprise these indicators show an overarching bullish sentiment from investors. However, given that NCNA is now trading at its resistance, bullish investors could wait for the stock to cool off or retest its support before finding a good entry point. Get alerts on this promising penny stock & so many others BEFORE they even run!!
SIGA: Monkeypox Stocks On the MOVE!
Only a couple of days after getting UK approval for its monkeypox drug, SIGA Technologies, Inc. (NASDAQ: SIGA) saw its shares skyrocket after announcing government contracts worth roughly $28 million for its monkeypox treatment – TPOXX (tecovirimat). This year alone, SIGA received almost $56 million of international orders for oral TPOXX from 6 jurisdictions. With this in mind, the company expects at least $26 million of international deliveries by Q3 2022.
With over 3400 laboratory-confirmed cases already reported worldwide, investors believe SIGA is already capitalizing on a potentially extremely lucrative market – and could reach new highs sooner than expected. To facilitate this impressive growth, SIGA is now extending its Monkeypox research. Highlighting the importance of the company’s work, CEO Phil Gomez believes that:
by increasing both the scale and scope of TPOXX stockpiling, countries can be better prepared for the outbreak risks of smallpox, monkeypox, and other viruses in the orthopoxvirus family of viruses and make sure that patients are able to access treatment.”
Losing some of its momenta after the run-up, SIGA is now trading at $14.53 with a near resistance at $14.91. Meanwhile, the stock shows support at 12.97 and 12.43. Accumulation is seeing a slight decline after being on an uptrend for the past few days and the RSI is witnessing a similar trend as it cools off at 71 after being overbought at 81. The MACD is bullish but seems poised for a bearish crossover soon.
We knew SIGA would be great & we called it when it was trading at ONLY $6!!!! If you missed out on this run, don’t worry! Be the first to get alerts on the BEST penny stocks to buy & make returns on the go!
CODX: Monkeypox Stocks HEATING UP!
As a molecular diagnostics company, Co-Diagnostics, Inc. (NASDAQ: CODX) is known for its unique, patented platform for the development of molecular diagnostic tests. On July 11th, the company announced it has shipped testing reagents for the monkeypox virus to one of its international distributors.
Commenting on the company’s progress, CEO Dwight Egan said:
We are grateful to our dedicated design and manufacturing teams, whose efforts have allowed us to react so quickly to meet the needs of an important distributor customer. CODX is pleased to be able to continue our mission of providing high-quality, affordable molecular testing products in response to ever-changing healthcare demands in regions all around the world.”
Now trading at $5.94, CODX has resistance at 6.13 and near support at 5.84 and 5.58. Accumulation has been steadily declining over the past couple of weeks and the MACD is bearish and it is unclear if it’s heading for a reversal. The RSI is on a similar trend to the Accumulation and is now holding at 48 – indicating the stock is now stable to trade.
In light of these indicators and the fact that the stock is trading near its support, bullish investors could find now a good entry point on CODX ahead of another anticipated run. Given the stock’s upcoming catalysts, SIGA could break its resistance in the coming days – positioning it as one of the most promising penny stocks today with a risk-reward ratio skewed towards a buy.
BOTTOM LINE
In light of the catalysts discussed in this article, it is no surprise these stocks have been making major moves all week. Investors who got in before the run-ups have made major returns!! Wanna get alerts on monkeypox stocks and other penny stocks with major potential? Sign up here!
As always, good luck to all (except the shorts)!
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Disclosure: We have no business relationship with any company whose stock is mentioned in this video. Viral Stocks is not an investment advisor and this video does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This video is not a solicitation or recommendation to buy, sell, or hold securities. This video is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
