A stock that trades at $15 or less isn't necessarily a bargain. Often, a stock trading that low is risky and anything but a bargain. However, biotech stocks Novavax (NASDAQ: NVAX), MannKind (NASDAQ: MNKD), and Anavex Life Sciences (NASDAQ: AVXL) all trade at $15 or less a share, and I see the potential for substantial upside for all three.

Novavax stands out with its more traditional, protein-based COVID-19 vaccine; MannKind is making a name for itself with inhaled therapies for diabetics and patients with lung disorders; and Anavex has a promising Alzheimer's therapy. Let's take a closer look at each one.

New year, new CEO, new vaccine. That's the mantra for vaccine maker Novavax, which has seen its shares decline more than 90% over the past year.

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Source Fool.com