5 Oversold Biotech Stocks to Buy

4. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

14-day RSI as of July 25: 26.22

Number of Hedge Fund Holders: 29

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 May 4, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) released its financial results for Q1 2023. Its revenue increased by 26% y-o-y to $100.5 million while net loss increased by 8% y-o-y to $164 million.

On June 7, Citigroup raised the price target on Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares to $133 from $130 and maintained a ‘Buy’ rating. The target price represents a potential upside of 219.94% based on the share price on July 25.