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This Healthcare Stock Just Hit a 52-Week Low: Is it Time to Buy?

HLS Therapeutics (TSX:HLS) is a Toronto-based specialty pharmaceutical company that is engaged in the acquisition and commercialization of pharmaceutical products in the specialty central nervous system and cardiovascular markets in Canada, the United States, and around the world. Today, I want to discuss whether this healthcare stock is worth snatching up after it just fell to a 52-week low. Let’s jump in.

Canadian investors should be eager for exposure to both specialty pharmaceutical submarkets. Grand View Research recently valued the global central nervous system therapeutic market at $116 billion in 2020. The same report forecast that this market would deliver a compound annual growth rate (CAGR) of 7.4% from 2021 through to 2028. Meanwhile, Precedence Research projected that the global cardiovascular drugs market would grow to US$231 million by 2030 compared to US$155 billion in 2021. That would represent a CAGR of 4.5% from 2022 through to 2030.

In the first quarter of fiscal 2023, HLS Therapeutics delivered marginal royalty revenue growth compared to the previous year. Vascepa, a drug used to aid in cardiovascular health, posted net revenue growth of 43% to $3.5 million in Q1 2023. Meanwhile, its total prescriptions climbed 94% year over year.

Shares of HLS Therapeutics are trading in very favourable value territory compared to its industry peers at the time of this writing. Moreover, it is geared up for strong revenue growth going forward. I’m looking to snatch up HLS Therapeutics stock as its low value right now.