10 Best Mid-Cap Healthcare Stocks To Buy Now

7. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hedge Fund Holders: 43 

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) develops and commercializes therapies for rare genetic diseases. It focuses on severe, life-altering conditions with few treatment options. The company earns revenue mainly from sales of its approved drugs, including Crysvita for X-linked hypophosphatemia and Dojolvi for fatty acid oxidation disorders.

A major catalyst for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is its robust and diverse pipeline of potential therapies. The company currently has four approved products and multiple candidates in various stages of clinical development. Of particular interest is UX143 (setrusumab), a monoclonal antibody for the treatment of osteogenesis imperfecta, which has shown promising results in clinical trials. The potential approval and commercialization of UX143 could significantly boost Ultragenyx’s revenue and market position.

Howard Horn, the Chief Financial Officer and Executive Vice President of Corporate Strategy at Ultragenyx said in the Q2 earnings call transcript:

“A major catalyst for Ultragenyx is its robust and diverse pipeline of potential therapies. The company currently has four approved products and multiple candidates in various stages of clinical development. Of particular interest is UX143 (setrusumab), a monoclonal antibody for the treatment of osteogenesis imperfecta, which has shown promising results in clinical trials. The potential approval and commercialization of UX143 could significantly boost Ultragenyx’s revenue and market position.”

As of Q2 2024, around 43 hedge fund holders held stakes in the stock with Alkeon Capital Management being the largest stakeholder with 2,241,832 worth $92,139,295. The stock holds a Strong Buy rating based on 19 Wall Street Analysts. The average price target is $89.61, with a high of $135.00 and a low of $46.00, indicating a 57.82% increase from the current price of $56.78.