5 NASDAQ Stocks with Biggest Upside

2. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Average Analyst Price Target Upside: 89.03%

Number of Hedge Fund Holders: 34

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a California-based company that researches and develops novel products for the treatment of rare and ultra-rare genetic diseases. Hedge fund sentiment was positive toward Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in Q4 of 2023 as hedge funds with investments in the stock were 34 in the quarter with positions worth $768.782 million. This is compared to 27 funds with positions worth $440.166 million in the preceding quarter. Alkeon Capital Management is the top investor in the company as of Q4 of 2023. In the quarter, the firm increased its stake by 16% to 2.242 million shares worth $107.204 million, representing 0.23% of the investment portfolio.

14 Wall Street analysts have covered Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) over the past three months and 13 keep a Buy rating on the stock. As of March 18, the average price target of $89.60 implies an upside of 89.03% to its current price.

On January 17, JPMorgan analyst Anupam Rama raised the price target on Ultragenyx Pharmaceutical Inc.’s (NASDAQ:RARE) stock to $84 from $79 and kept an Overweight rating on the shares.