5 Best Biotech Stocks Under $5

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1. Seelos Therapeutics, Inc. (NASDAQ:SEEL)

Number of Hedge Fund Holders: 13

Price as of October 14, 2021: $2.35

Seelos Therapeutics, Inc. (NASDAQ:SEEL) is involved in the development of treatment for patients with central nervous system (CNS) disorders. The company is betting on realizing the potential of SLS-002, intranasal racemic ketamine for the treatment of major depression disorders (MDD) and acute suicidal ideation and behavior (ASIB). Presently, the research is in the proof-of-concept stage, and if approved, it would only be the second medication of its kind, following the approval of Johnson & Johnson’s (NYSE:JNJ) fast-acting Spravato in June 2020. Seelos Therapeutics, Inc. (NASDAQ:SEEL) also has a couple of gene therapy medications to combat Parkinson’s disease. 

On the back of a positive outlook from the research, Johnathan Aschoff, equity analyst at Roth Capital, upgraded Seelos Therapeutics, Inc. (NASDAQ:SEEL) from a Neutral to a Buy rating with a target price of $8, which reflects an upside potential of over 240% from the current stock price. Investment advisory firms B. Riley and Guggenheim also covered the stock and gave a Buy rating with a target price of $11 and $8, respectively.

You can also take a peek at the 10 High Yield Dividend Champions and 10 Key Earnings Reports to Watch.

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