10 Best Nasdaq Stocks Under $5 to Buy

3. Opko Health Inc. (NASDAQ:OPK)

Current Market Price: $1.65

Number of hedge funds: 22

Opko Health Inc. (NASDAQ:OPK) is a diversified healthcare company specializing in the development and commercialization of innovative medical technologies and pharmaceuticals. The company operates in various segments, including diagnostics, pharmaceuticals, and biotechnology, with a strong focus on improving patient outcomes through advanced healthcare solutions. Opko Health offers products such as Rayaldee, a treatment for secondary hyperparathyroidism; Somatrogon, a human growth hormone injection; and the diagnostics business, including BioReference Health.

In November, Opko Health Inc. (NASDAQ:OPK) reported its Q3 2024 results, showing total revenues of $173.6 million, compared with $178.6 million for Q3 2023. The company achieved an operating income of $14.2 million, a significant improvement from the $64.4 million loss in Q3 2023. This improvement was driven by a one-time gain of $121.5 million from the sale of select BioReference assets and $10.5 million from the GeneDx sale. Additionally, the company commenced enrollment in a Phase 1 trial for MDX2001, a tetraspecific antibody targeting solid tumor cancers. In January 2025, ModeX Therapeutics Inc., a subsidiary, announced the start of a Phase I study of an Epstein-Barr virus (EBV) vaccine candidate being developed in collaboration with Merck Sharpe & Dohme. With a robust pipeline, Opko Health Inc. (NASDAQ:OPK) is strategically positioned to benefit from the growing demand for innovative healthcare solutions.