5 Most Promising Biotech Stocks to Buy According to Analysts

In this article, we will take a look at the 5 most promising biotech stocks to buy according to analysts. To read our analysis of the recent trends and market activity, you can go to the 11 Most Promising Biotech Stocks to Buy According to Analysts.

5. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Upside Potential as of December 13: 104.58%

Number of Hedge Fund Holders: 27

Novato, California-based Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a is a biopharmaceutical company focused on the development of novel products for the treatment of serious rare and ultra-rare genetic diseases.

The portfolio of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) includes four commercial products: DOJOLVI® for patients with molecularly confirmed long-chain fatty acid oxidation disorders, MEPSEVII® for Mucopolysaccharidosis VII, CRYSVITA® for hypophosphatemic disorders, and EVKEEZA® for Homozygous Familial Hypercholesterolemia.

On November 2, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) released its financial results for Q3 2023. Its revenue increased by 8% y-o-y to $98 million while net loss shrunk by 35% y-o-y to $160 million.

On October 23, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) announced the closing of its previously announced underwritten public offering to raise net proceeds of approximately $326 million.