Jim Cramer’s Hidden Gems: 10 Undervalued Stocks You Need to Know

2. Liquidia Corporation (NASDAQ:LQDA)

Number of Hedge Fund Holders In Q3 2024: 28

Date of Cramer’s Comments: 8-20-24

Performance Since Then: 22.9%

Liquidia Corporation (NASDAQ:LQDA) is the only biotechnology stock on our list. It is a loss-making entity yet to turn a profit. The firm generates revenue primarily through its treprostinil drug for hypertension in patients with lung disease. As a result, Liquidia Corporation (NASDAQ:LQDA)’s hypothesis depends quite a bit on this drug’s success. This dependence was evident in August when the stock sank by 31% after the FDA delayed the drug’s final approval to mid-2025. Cramer wasn’t a fan of the stock either in August as he doubted its ability to post returns after the 31% dip. Here’s what he said:

“Man, I’ll tell you, that is just such a dice roll. It’s been going down, down, down. The only outfit that really covers it is HC Wainwright. It’s a lot like, well, I’m not sure. This one is just too much of what I would call a black box. But I will check in the 2002 Cramer Burket’s return, because maybe that’s the kind of thing that could make it so I can retire—though it’s highly unlikely.”