Three ASX healthcare penny stocks racking up big gains this month

Highlights 

  • Penny stocks trade at less than a dollar.
  • ANP, IPD and AJJ are some of the ASX-listed healthcare penny stocks that have racked up decent gains this month.
  • Trading in penny stocks is highly risky and one should not be carried away with these lucrative returns.

Penny stocks belong to micro-cap companies that often trade at less than a dollar. Although, trading in these stocks is a high-risk venture, yet they are famous for their quick returns. Some penny stock investors are having a good month so far, comfortably beating the broader markets.

ASX penny stocks

Image Source: © Cammeraydave | Megapixl.com

 Let us have a look at three ASX healthcare stocks under AU$1 that have racked up high returns this month.

Read More: Three ASX penny stocks looking to close October with triple-digit returns

  1. Antisense therapeutics Limited (ASX:ANP)

Antisense therapeutics is a AU$180 million biopharmaceutical company, which is in the business of developing novel antisense pharmaceuticals. ANP shares last closed at AU$0.295, as of 27 October 2021, delivering a month-to-date return of 43.9%.

Recently, the company appointed Dr Gil Price as a new non-executive director, replacing the current non-executive director, William Goolsbee. The new director is expected to lead the company with his rich experience with the DMD treatment and patient community.

  1. ImpediMed Limited (ASX:IPD)

ImpediMed is a healthcare software technology firm, which develops bioimpedance spectroscopy devices and offers software services. The company has a market capitalisation of AU$254 million with its share price last closing at AU$0.17.

The month-to-date return of the stock stands at a decent 36%, as of Wednesday. Today, the company announced plans to raise AU$35 million via an institutional placement, primarily to support product, data and software enhancements.

  1. Asian American Medical Group Limited (ASX:AJJ)

Asian American Medical Group has announced FY21 results for the period ended 31 August 2021. The company’s revenue fell 82.8% to S$1.24 million, compared over the last year, while net loss after tax surged 141.8% to S$5.8 million in the same period. The major hit was inflicted from Singapore operations as no foreign patients were allowed due to cross-border restrictions.

The company has a market capitalisation of AU$19.5 million and its share price last closed at AU$0.051, delivering a month-to-date return of a decent 34.2%.

Bottom Line

Penny stocks might manage to churn out lucrative returns, just as some of the above-mentioned stocks. However, trading in these stocks is highly risky and investors must be cautious while taking the plunge. 

Read More: Three ASX penny stocks to watch out for in November

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