5 Stocks with Biggest Upside Potential According to Analysts

3. AbCellera Biologics Inc. (NASDAQ:ABCL)

Number of Hedge Fund Holders: 19

Upside Potential as of July 20: 238.44%

Vancouver, British Columbia-based AbCellera Biologics Inc. (NASDAQ:ABCL) is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. Its drug discovery platform integrates engineering, microfluidics, single-cell analysis, high-throughput genomics, machine learning, and hyper-scale data science to accelerate drug discovery.

On May 24, AbCellera Biologics Inc. (NASDAQ:ABCL) announced a C$701 million co-investment partnership with the Governments of Canada and British Columbia to strengthen capabilities and infrastructure for drug development, manufacturing, and clinical research in Canada. AbCellera Biologics Inc. (NASDAQ:ABCL) plans to invest C$401 million in the project over the next 8 years.

On May 5, Credit Suisse lowered the target price on AbCellera Biologics Inc. (NASDAQ:ABCL) shares to $28 from $34 while maintaining an ‘Outperform’ rating for the shares. The target price represents an upside potential of nearly 258% based on the share price on July 20.