In this article, we discuss 5 best low price pharma stocks to buy now. If you want to see more stocks in this selection, check out 10 Best Low Price Pharma Stocks To Buy Now.
5. Haleon plc (NYSE:HLN)
Number of Hedge Fund Holders: N/A
Share Price as of October 17: $6.04
Haleon plc (NYSE:HLN) was incorporated in 2021 and is headquartered in Brentford, the United Kingdom. The company engages in the research and development, manufacture, and sale of consumer healthcare products including therapeutic oral health, pain relief, respiratory health, and digestive health products, as well as vitamins, minerals, and supplements. Its portfolio of brands include Panadol, Voltaren, Advil, Otrivin, Theraflu, Sensodyne, Polident, Parodontax, and Centrum. Haleon plc (NYSE:HLN) is one of the best low pharma stocks to invest in.
On September 28, Argus analyst Taylor Conrad initiated coverage of Haleon plc (NYSE:HLN) with a Hold rating. The company is trying to benefit from emerging secular trends, such as the heightening popularity of preventive medicine and the rising shift from prescription to over-the-counter medications, the analyst told investors in a research note. However, the analyst added that while Haleon plc (NYSE:HLN) should be a beneficiary of these tailwinds, its “fair valuation” and the easy barriers to entry for off-patent generic drugs result in her neutral stance.
4. Harrow Health, Inc. (NASDAQ:HROW)
Number of Hedge Fund Holders: 13
Share Price as of October 17: $12.05
Harrow Health, Inc. (NASDAQ:HROW) is a California-based ophthalmic-focused healthcare company that owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in multiple clinical-stage pharmaceutical companies. Harrow Health, Inc. (NASDAQ:HROW) is one of the top low price pharma stocks to invest in.
On October 3, Lake Street analyst Brooks O’Neil said he is optimistic about Harrow Health, Inc. (NASDAQ:HROW), as “last week was big” with the company announcing the availability of Fortisite and FDA approval of AMP-100, now branded as Iheezo. He believes there is “a big market” for Fortisite, a compounded antibiotic formulation that can be used to treat eye infections, and expects the drug to be priced at over $100 per bottle. Similarly, the analyst noted that Iheezo has a “very big market” and thinks the price tag for a single dose can be in the range of $500. O’Neil, who would “definitely encourage investors to buy this stock now,” reiterated a Buy rating and a $17 price target on Harrow Health, Inc. (NASDAQ:HROW) shares.
According to Insider Monkey’s data, 13 hedge funds were long Harrow Health, Inc. (NASDAQ:HROW) at the end of June 2022, with collective stakes worth $78.2 million, compared to 13 funds in the prior quarter worth $50.2 million.
Here is what SRK Capital has to say about Harrow Health, Inc. (NASDAQ:HROW) in its Q2 2022 investor letter:
“I have written about Harrow Health in my previous two letters to you, but I find it necessary to continue to explain my thought process in order to convey my conviction in the company. During periods of negative performance, I believe it is more vital than ever that our partners understand my thought process in order for you to adequately discern what it is that I do as your manager. HROW is our largest position, our largest detractor year to date, and the opportunity I am most excited about over the next six months.
Harrow Health is an ophthalmology focused healthcare company. The core business, ImprimisRx, is a compounding pharmacy that customizes medications to the needs of eye care physicians and their patients. It is estimated that north of 90% of ophthalmologists and optometrists use compounded formulations in their practice. Physicians choose to work with ImprimisRx because they are the largest and most trusted compounding pharmacy in the eye care market and have achieved this by solving pain points for physicians and their patients, where others could not satisfy their needs…” (Click here to see the full text)
3. Veru Inc. (NASDAQ:VERU)
Number of Hedge Fund Holders: 13
Share Price as of October 17: $10.86
Veru Inc. (NASDAQ:VERU) is a Florida-based oncology biopharmaceutical company that focuses on developing medicines for the management of cancer. On September 20, Oppenheimer analyst Leland Gershell noted that the date of the FDA Advisory Committee meeting to discuss Veru Inc. (NASDAQ:VERU)’s sabizabulin was postponed to November 9 from October 6. From his discussion with Veru Inc. (NASDAQ:VERU)’s management, the analyst told investors that the FDA’s meeting was delayed to allow the agency additional time to review the relevant material, including clinical trial results. While this delays the potential start of U.S. sales to at least November, his optimism for Emergency Use Authorization “remains unchanged.” The analyst has an Outperform rating on Veru Inc. (NASDAQ:VERU) shares.
According to Insider Monkey’s Q2 data, 13 hedge funds were long Veru Inc. (NASDAQ:VERU), up from 9 funds in the prior quarter. Peter Kolchinsky’s RA Capital Management is the leading stakeholder of the company, with 7.90 million shares worth $89.2 million.
2. Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)
Number of Hedge Fund Holders: 19
Share Price as of October 17: $10.09
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) is a Massachusetts-based healthcare company, focused on the development and commercialization of gastrointestinal products. The company uses its free cash flow to pay off debt and buy back stock. Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) is one of the premier low price pharma stocks to buy now.
Capital One analyst Tim Chiang on September 2 initiated coverage of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) with an Overweight rating and a $15 price target.
According to Insider Monkey’s second quarter database, 19 hedge funds held stakes worth $329.7 million, compared to 21 funds in the last quarter worth $367 million. Alex Denner’s Sarissa Capital Management is the largest stakeholder of the company, with 16.4 million shares valued at $189 million.
1. Teva Pharmaceutical Industries Limited (NYSE:TEVA)
Number of Hedge Fund Holders: 35
Share Price as of October 17: $7.95
Teva Pharmaceutical Industries Limited (NYSE:TEVA) is an Israel-based pharmaceutical company that develops, manufactures, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, and internationally. On October 7, Teva Pharmaceutical Industries Limited (NYSE:TEVA), the biggest supplier of the generic version of Adderall, announced that it expects shortages of the medication to continue for another two to three months. Teva Pharmaceutical Industries Limited (NYSE:TEVA) is one of the leading low price pharma stocks.
On August 5, BofA analyst Jason Gerberry upgraded Teva Pharmaceutical Industries Limited (NYSE:TEVA) to Buy from Neutral with a price target of $13, up from $10. The company is making significant progress towards wrapping up its litigation overhangs and concluding opioid settlements, which should be enough to put Teva Pharmaceutical Industries Limited (NYSE:TEVA) on the path to EBITDA growth, the analyst told investors in a research note. He added that Teva Pharmaceutical Industries Limited (NYSE:TEVA) offers a “solid” new product cycle pipeline in 2023-2024.
According to Insider Monkey’s data, 35 hedge funds were long Teva Pharmaceutical Industries Limited (NYSE:TEVA) at the end of Q2 2022, up from 26 funds in the prior quarter. David Abrams’ Abrams Capital Management is the largest stakeholder of the company, with more than 24 million shares worth nearly $181 million.
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