These Stocks Hit New 52-Week Highs Yesterday – Were You Ahead Of The Game?

The following biotech stocks, which were recently featured on our site, reached new highs yesterday. Did you have these high-flyers in your investment portfolio?

1. Harrow Health Inc. (HROW)

Published price: $8.35
Max. Return: 157% in 6 months

Harrow Health is a commercial-stage eyecare pharmaceutical company.

The FDA approved the company’s IHEEZO 3% for ocular surface anesthesia last September. IHEEZO represents the first approved use in the U.S. ophthalmic market of chloroprocaine hydrochloride and the first branded ocular anesthetic approved for the U.S. ophthalmic market in nearly 14 years. The product is expected to be launched in May 2023.

HROW was featured on our site on Sep.21, 2022, when it was trading around $8.35. The stock touched a 5-year high of $21.52 during intraday trading yesterday, before closing at $21.46.

2. Biomea Fusion Inc. (BMEA)

Published Price: $9.32
Max. Return: 89% in 2 months

Biomea is a clinical stage biopharmaceutical company developing covalent small molecule drugs to address the needs of patients with genetically defined cancers and metabolic diseases.

The lead drug candidate is BMF-219, which is in clinical development across eight liquid and solid tumor types, as well as for patients with type 2 diabetes.

A phase I/II trial of BMF-219 in type II diabetes in Canada, dubbed COVALENT-111, is underway. The phase I portion of the trial in healthy volunteers, designed to assess safety, tolerability, and pharmacokinetics of BMF-219, has been successfully completed.

The company is slated to host a conference call and webcast to discuss the initial clinical data from the first two cohorts of the phase II portion of COVALENT-111 today, March 28th at 8:30 am ET.

BMEA was featured on our site on Jan.30, 2023, when it was trading around $9.32. The stock touched a 52-week high of $17.68 during intraday trading yesterday, before closing at $15.43.

3. Ardelyx Inc. (ARDX)

Published Price: $1.34
Max. Return: 229% in 5.5 months

Ardelyx is a biopharmaceutical company developing innovative first-in-class medicines that meet significant unmet medical needs. The company’s first approved product, IBSRELA, indicated for the treatment of adults with irritable bowel syndrome with constipation, is available in the United States and Canada.

Launched in April 2022, IBSRELA generated net product sales of $15.6 million during the year ended December 31, 2022.

In the pipeline is XPHOZAH, a novel product candidate for the management of hyperphosphatemia in adult patients with chronic kidney disease on dialysis.

Ardelyx plans to submit the New Drug Application for XPHOZAH in the early second quarter of 2023.

ARDX was featured on our site on Oct.13, 2022, when it was trading around $1.34. The stock touched a 52-week high of $4.42 during intraday trading yesterday, before closing at $4.32.

4. Signify Health Inc. (SGFY)

Published Price: $19
Max. Return: 60% in 8 months

Signify Health is a healthcare platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs.

Last September, the company agreed to be acquired by CVS Health for $30.50 per share in cash for a total transaction value of roughly $8 billion. The transaction is expected to close on or around March 29, 2023. Once the deal is closed, Signify Health will continue to operate as a payor-agnostic business under CVS Health’s umbrella.

We had alerted our subscribers to SGFY on Aug.5, 2022, when it was trading around $19. The stock touched a 52-week high of $30.48 during intraday trading yesterday, before closing at $30.47.

5. agilon health inc. (AGL)

Published Price: $19.99
Max. Return: 47% in 2 months

agilon health is a healthtech company that provides primary care physician services for seniors.

The company announced financial results for the fourth quarter and fiscal year ended December 31, 2022, earlier this month.

For the fiscal year 2022, total revenue increased 48% to $2.71 billion while net loss narrowed to $107 million or $0.26 per share. This compares with revenue of $1.83 billion and net loss of $407 million or $1.09 per share in the prior year.

AGL was featured on our site on Jan.20, 2023, when it was trading around $19.99. The stock touched a 52-week high of $29.44 during intraday trading yesterday, before closing at $28.55.

6. HealthStream Inc. (HSTM)

Published Price: $22.02
Max. Return: 22% in 8.5 months

HealthStream is a provider of workforce and provider solutions for the healthcare industry.

Recently, the company announced promising financial results for the full year and fourth quarter concluding on December 31, 2022.

Net income for full year 2022 surged to $12.1 million or $0.39 per share as revenues increased 4% to $266.8 million. This compares with a net income of $5.8 million or $0.18 per share and revenue of $256.7 million in 2021.

Looking ahead to full year 2023, HealthStream expects revenue to range between $277.5 million and $283.0 million.

HSTM was featured on our site on Jul.15, 2022, when it was trading around $22.02.The stock touched a 52-week high of $26.96 during intraday trading yesterday, before closing at $26.84.

7. Viemed Healthcare Inc. (VMD)

Published Price: $8.70
Max. Return: 18% in 2 months

Viemed is a provider of specialized respiratory healthcare services, with a focus on Chronic Obstructive Pulmonary Disease (COPD) and growing aging population.

The financial results for the three months and year ended December 31, 2022, were reported by the company early this month.

Total net revenues for the year ended December 31, 2022, were $138.8 million, up from $117 million in the prior year. Net income for 2022 was $6.2 million or $0.16 per share, down from $9.1 million or $0.22 per share in 2021.

VMD was featured on our site on Feb.2, 2023, when it was trading around $8.70. The stock touched a 52-week high of $10.32 during intraday trading yesterday, before closing at $9.71.

8. RxSight Inc. (RXST)

Published Price: $15.45
Max. Return: 10% in 7.5 months

RxSight is a commercial-stage medical technology company providing light adjustable intraocular lens for post-cataract surgery patients. The company markets FDA-approved proprietary RxSight Light Adjustable Lens system, which consists of Light Adjustable Lens (LAL), Light Delivery Device (LDD) and accessories.

The company reported financial results for the three months and full year ended December 31, 2022, earlier this month.

On an adjusted basis, annual net loss was $55.4 million or $2.00 per share in 2022 compared to a net loss of $43.8 million or $3.22 per share in 2021. Total revenue for 2022 was $49.0 million, an increase of 117% compared to the prior year.

Looking ahead to full year 2023, RxSight anticipates revenue to be in the range of $78.0 million to $83.0 million, which implies a significant growth rate of 59% to 69% over 2022.

RXST was featured on our site on Aug.10, 2022, when it was trading around $15.45. The stock touched a 52-week high of $17.02 during intraday trading yesterday, before closing at $16.40.

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