5 Cheap Healthcare Stocks to Buy in 2023

In this piece, we will take a look at the twelve cheap healthcare stocks to buy in 2023. For more healthcare stocks, head on over to 12 Cheap Healthcare Stocks to Buy in 2023.

5. XORTX Therapeutics Inc. (NASDAQ:XRTX)

Latest P/E Ratio: 1.35

XORTX Therapeutics Inc. (NASDAQ:XRTX) is a Canadian firm headquartered in Vancouver, Canada. It develops treatments for diabetes and kidney diseases.

As of Q4 2022, two of the 943 hedge funds part of Insider Monkey’s database had held a stake in XORTX Therapeutics Inc. (NASDAQ:XRTX).

4. Molecular Partners AG (NASDAQ:MOLN)

Latest P/E Ratio: 1.60

Molecular Partners AG (NASDAQ:MOLN) is a Swiss company headquartered in Schlieren, Switzerland. Its treatments target the coronavirus, tumors, cancers, and leukemias.

Three of the 943 hedge funds part of Insider Monkey’s database had bought Molecular Partners AG (NASDAQ:MOLN)’s shares during Q4 2022. Mark Lampert’s Biotechnology Value Fund / BVF Inc is the firm’s largest investor with a $2.8 million stake that comes via 443,221 shares.

3. Chimerix, Inc. (NASDAQ:CMRX)

Latest P/E Ratio: 0.66

Chimerix, Inc. (NASDAQ:CMRX) is an American biotechnology firm headquartered in Durham, North Carolina. The firm develops treatments to treat and suppress different kinds of tumors, blood disorders, cancers, leukemias, and infectious diseases.

By the end of Q4 2022, 14 of the 943 hedge funds surveyed by Insider Monkey had held a stake in the company. Out of these, David Rosen’s Rubric Capital Management is Chimerix, Inc. (NASDAQ:CMRX)’s largest hedge fund investor. It owns 7.5 million shares that are worth $13.9 million.

2. Catalyst Biosciences, Inc. (NASDAQ:CBIO)

Latest P/E Ratio: 0.51

Catalyst Biosciences, Inc. (NASDAQ:CBIO) is a biopharmaceutical company that is headquartered in San Francisco, California. The firm develops treatments for eye diseases and other medical problems that result from inflammation, particularly in older adults.

Insider Monkey’s 943 hedge fund survey for last year’s fourth quarter found that five had invested in Catalyst Biosciences, Inc. (NASDAQ:CBIO).The firm scored a big win in February 2023 when a South Korean drug company acquired three of its treatments, one of which is for bleeding disorders and is currently in phase 3 trials.

1. AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX)

Latest P/E Ratio: 0.10

AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) is a pharmaceutical company that specializes in developing drugs for treating pain. Its medicines help opioid tolerant patients, those with respiratory diseases, and patients that are suffering from pain after surgery.

Three of the 943 hedge fund portfolios studied by Insider Monkey for 2022’s December quarter had held a stake in AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX). The firm’s largest investor in our database is Steven Boyd’s Armistice Capital which owns 367,102 shares that are worth $829,651.

Disclosure: None. The author received no additional compensation for this piece except for what is typically made by Insider Monkey. You can also take a look at 10 Hot Growth Stocks To Buy Now and 11 Best Communication Stocks to Buy.

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