In this article, we will take a look at the 5 best medical stocks to buy under $10. To read our analysis of the latest trends, and market activity, you can go to the 12 Best Medical Stocks to Buy Under $10.
5. Bausch Health Companies (NYSE:BHC)
Share Price as of February 21: $8.65
Number of Hedge Fund Holders: 31
Laval, Canada-based Bausch Health Companies (NYSE:BHC) is a global diversified pharmaceutical company that develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, and international pharmaceuticals.
On February 22, Bausch Health Companies released its financial results for Q4 2023. It generated total revenues of $2.4 billion and a net loss of $39 million. At $1.17, the normalized EPS exceeded consensus estimates by $0.15.
As of Q4 2023, Bausch Health Companies shares were owned by 31 leading hedge funds with the total shares held by them valued at $1.1 billion. It ranks highest on our list of 12 best medical stocks to buy under $10 based on its market capitalization.
4. bluebird bio, Inc. (NASDAQ:BLUE)
Share Price as of February 21: $1.09
Number of Hedge Fund Holders: 32
Somerville, Massachusetts-based bluebird bio, Inc. (NASDAQ:BLUE) is a biotechnology company that develops gene therapies for severe genetic disorders. It has secured FDA approvals for three therapies targeting sickle cell disease, β-thalassemia and cerebral adrenoleukodystrophy.
In December, bluebird bio, Inc. raised gross proceeds of nearly $125 million through a public offering of its common shares at a share price of $1.50 per share. Its intends to use the net proceeds of the offering (i) to support commercialization and manufacturing for its three approved gene therapies, ZYNTEGLO, SKYSONA and LYFGENIA; and (ii) to fund working capital and other general corporate purposes.
As of Q4 2023, bluebird bio, Inc. shares were held by 32 leading hedge funds tracked by Insider Monkey with the total shares held by hedge funds valued at $55 million. Anand Parekh’s Alyeska Investment Group was its leading hedge fund shareholder with ownership of 6.9 million shares valued at $9.5 million.
3. BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)
Share Price as of February 21: $5.63
Number of Hedge Fund Holders: 32
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is a global biotechnology company focused on leveraging its expertise in structure-guided drug design to develop oral small-molecule and protein therapeutics to target difficult-to-treat diseases.
BioCryst Pharmaceuticals, Inc. has commercialized ORLADEYO® (berotralstat), the first oral, once-daily plasma kallikrein inhibitor for prophylaxis to prevent attacks of hereditary angioedema (HAE) in adults and pediatric patients.
On January 5, BioCryst Pharmaceuticals, Inc. announced preliminary, unaudited ORLADEYO® net revenue for Q4 2023. Net revenue for ORLADEYO® increased by 27% y-o-y to $90 million during the quarter with full-year net revenue of nearly $325 million.
As of Q4 2023, BioCryst Pharmaceuticals, Inc. shares were held by 32 hedge funds. These hedge funds together held shares worth $383 million.
2. Cogent Biosciences, Inc. (NASDAQ:COGT)
Share Price as of February 21: $8.43
Number of Hedge Fund Holders: 33
Cogent Biosciences, Inc. (NASDAQ:COGT) is a biotechnology company focused on developing precision therapies for genetically defined diseases.
On December 11, Cogent Biosciences, Inc. reported positive data from Part 1 of the company’s ongoing Phase 2 APEX clinical trial evaluating bezuclastinib in patients with advanced systemic mastocytosis. The company is actively enrolling patients in Part 2 of the Phase 3 registration-enabling PEAK trial in Gastrointestinal Stromal Tumors (GIST).
Cogent Biosciences, Inc. shares were owned by 33 prominent hedge funds tracked by Insider Monkey with a total value of $212 million, as of Q4 2023.
1. Travere Therapeutics, Inc. (NASDAQ:TVTX)
Share Price as of February 21: $7.90
Number of Hedge Fund Holders: 36
San Diego, California-based Travere Therapeutics, Inc. (NASDAQ:TVTX) is a biopharmaceutical company focused on developing therapies for rare diseases. It has two approved therapies: FILSPARI® (sparsentan) for adults with primary IgA nephropathy, and THIOLA EC® (tiopronin) to help prevent the formation of one type (cystine) of kidney stones.
On September 5, Travere Therapeutics, Inc. completed the sale of its bile acid product portfolio that includes Cholbam and Chenodal to Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM). The company received $210 million at closing and is eligible for up to $235 million in potential sales-based milestone payments.
Travere Therapeutics, Inc. ranks #1 on our list of 12 best medical stocks to buy under $10 based on the number of hedge funds holding its shares as of December 31, 2023. The shares of the company were owned by 36 hedge funds with a total value of $310 million.
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