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CapitalGainsReport Sector Spotlight: Healthcare Penny Stocks On The Move (ARDX, WHSI, BNGO)

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CapitalGainsReport Sector Spotlight: Healthcare Penny Stocks On The Move (ARDX, WHSI, BNGO)

November 21
09:42 2022

The healthcare industry is one of the biggest and most varied industries, with a wide range of businesses that sell medical products and provide medical services. Sectors within the healthcare industry include healthcare equipment and services, pharmaceuticals, biotech, and similarly related life sciences.

There are multiple drivers that keep the healthcare sector churning. The aging population, rising diseases, and ongoing need for healthcare create a constant demand within the medical sector.

The near-constant growth and expansion of the medical industry creates fertile ground for smaller companies. In this article, we’ll talk about a few healthcare penny stocks that give investors a good chance to get into the healthcare sector with a low entry barrier.

Ardelyx Inc. (NASDAQ: ARDX) is a biopharmaceutical company that specializes in creating and commercializing innovative medicines that fill unmet needs in the medical sector. Recently, Piper Sandler analyst Christopher Raymond raised the price target for Ardelyx Inc. from $3 to $8 and upgraded the stock to overweight from a neutral rating. 

Recently, an advisory panel of the U.S. Food and Drug Administration voted that the benefits of ARDX’s treatment for chronic kidney disease on dialysis, XPHOZAH, outweighed the risks. Expectations for an outcome were low going into the recent advisory panel meeting, and the advisors’ overwhelming support for the drug’s risk-benefit profile, in the face of the agency’s skepticism, took analysts by surprise.

Analyst Christopher Raymond commented that he expected approval of the new drug in its indication at the end of the year, making ARDX a stock to watch.

Wearable Health Solutions Inc. (OTC: WHSI) is another stock to keep an eye on. WHSI is an established manufacturer and provider of Personal Emergency Response Systems devices, or PERS, to the rapidly growing medical alarm and eHealth sectors. 

As of October 2022, WHSI has stated it has served 8,500 end users of their PERS device, the iHelpMAX 4G, including a current order book of over 2000 potential activations.

The iHelpMAX and its platform can be paired with multiple other devices to enable remote patient monitoring and data collection of essential vital signs in real time. This remote monitoring makes the unit telehealth-ready. 

UN statistics state that by 2060 the population over 75 will grow 61.6% compared to what it is now, and with 90% of seniors saying they intend to remain in their homes for the next 5-10 years, the amount of patients needing remote monitoring devices is going to rapidly increase.

Litchfield Hills Research reaffirms its ‘Buy’ and $0.20 price target for Wearable Health Solutions, Inc. (OTC: WHSI) in its latest report on the $1.5 billion Remote Personal Care market (PERS), published on November 2, 2022. A ‘Buy’ rating implies an expectation that the stock is anticipated to provide a total return of 15% or more within a 12-month period, according to Litchfield Research.

Analyst Theodore O’Neill sees WHSI overcoming logistical headwinds, hitting triple-digit growth, and creating revenue of $2,650,000 in FY2023

WHSI has a good product, the iHelpMAX 4G, a rapidly growing market, and a positive outlook for the future, for these reasons, put WHSI on your radar for healthcare penny stocks.

Another great penny stock in the healthcare sector is Bionano Genomics Inc. (NASDAQ: BNGO). Bionano is a genomic analysis company that develops and sells nano-channeling technology platforms for genome sequencing.

The Human Genome Project pioneered whole-genome sequencing, which enables doctors and scientists to read an individual’s genome and identify, among other things, differences from the average human genome. 

These variations (mutations) are frequently associated with disorders and disease, but they can also be associated with other factors, such as disease resistance or sensitivity to environmental perturbations, such as sunlight or exercise.

BNGO’s flagship optical genome mapping system, known as Saphyr, has been churning away, consuming market share. The company’s clinical services have also seen a strong performance as of late.

Though genome mapping is a relatively young market, overall sales in the sector reached a little over $100 million, demonstrating this industry’s serious staying power. By the end of the decade, optical genome mapping could potentially be generating several billion in sales annually

With Bionano already ahead of the game and producing a leading platform in this industry, pay attention to BNGO as the industry continues to grow.

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