9 Best Healthcare Penny Stocks to Buy According to Hedge Funds

7. OPKO Health, Inc. (NASDAQ:OPK)

Stock Upside Potential: 121.45%

Number of Hedge Fund Holders: 16

OPKO Health, Inc. (NASDAQ:OPK) is one of the best healthcare penny stocks to buy according to hedge funds. On April 9, H.C. Wainwright reiterated its Buy rating on Opko Health (NASDAQ:OPK) and $3 price target, impressed by the company’s Phase 1 trial of a Covid-19 prevention treatment.

The company is currently working on MDX2301, a tetravalent bispecific antibody that shows tremendous potential for neutralizing all known variants of SARS-CoV-2. Opko Health has already conducted a Phase 1 trial of the candidate drug and dosed the first participants. It evaluated the safety and tolerability in healthy adults and adults at higher risk of severe COVID-19.

Opko Health (NASDAQ:OPK) is funding the COVID-19 program in its entirety with federal funds from the US Department of Health and Human Services Administration. H.C. Wainwright is confident that the company will deliver positive pharmacokinetic and immunogenicity data from the study before year-end. In addition, the research firm remains optimistic about MDX2301’s prospects for neutralizing all known variants and delivering broader, more durable protection against COVID-19.

OPKO Health, Inc. (NASDAQ:OPK) is a multinational biopharmaceutical and diagnostics company that discovers, develops, and commercializes pharmaceutical products and operates clinical laboratories. It focuses on treating serious diseases through products such as RAYALDEE and NGENLA, while also providing diagnostic services.