Should You Hold RVL Pharmaceuticals plc (RVLP) for a Potential Upside?
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Contrarian Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 8.78% net compared to a 7.43% return for the Russell 2500 Index. Furthermore, the fund underperformed its secondary benchmark, the Russell 2500 Value Index, which returned 9.21%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Meridian Contrarian Fund highlighted stocks like RVL Pharmaceuticals plc (NASDAQ:RVLP) in its Q4 2022 investor letter. Headquartered in Bridgewater, New Jersey, RVL Pharmaceuticals plc (NASDAQ:RVLP) is a pharmaceutical company that targets underserved patient populations. On March 23, 2023, RVL Pharmaceuticals plc (NASDAQ:RVLP) stock closed at $1.0200 per share. One-month return of RVL Pharmaceuticals plc (NASDAQ:RVLP) was -16.39%, and its shares lost 44.86% of their value over the last 52 weeks. RVL Pharmaceuticals plc (NASDAQ:RVLP) has a market capitalization of $108.291 million.
Meridian Contrarian Fund made the following comment about RVL Pharmaceuticals plc (NASDAQ:RVLP) in its Q4 2022 investor letter:
"RVL Pharmaceuticals plc (NASDAQ:RVLP) is a specialty pharmaceutical company developing a novel treatment for ptosis, or low-lying. The company launched the drug, Upneeq, as it divested its legacy generic drug business in 2021. Following the game plans deployed for other medical aesthetics products Botox and Latisse, RVL has reported rapid sales growth in the high[1]margin Upneeq, which was launched medically in late 2020 and into the aesthetics market in 2022. The stock retreated during the quarter as an extended summer lull slowed sales results and led to reduced full-year expectations. We maintained our exposure as we believe the position is sized accordingly to the risk. Additionally, we believe the potential upside for Upneeq is considerable as it launched two new telemedicine partnerships in late 2022."
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RVL Pharmaceuticals plc (NASDAQ:RVLP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held RVL Pharmaceuticals plc (NASDAQ:RVLP) at the end of the fourth quarter which was 6 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
