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Looking for a contrarian play? We created a list of stocks that are seeing very contradicting plays by "smart money" investors. Specifically, UBS has a Buy rating on these stocks, but hedge funds are still jumping ship. What gives?

Buy Rating

When UBS issues a Buy rating on a stock it is considered a good sign for the company's future prospects in the market. Their analysts' full-time job is to analyze companies, so their word is as professional as it gets. They often have personal relationships with the companies they are assigned to, and visit the company to get more accurate figures out their value.

And yes, analyst ratings can remain unchanged for long periods. But a firm may only adjust once they believe their full potential has been reached or has diminished prospects (often a change from buy to hold).

So why then are these buy rated stocks seeing significant selloffs from institutional investors, such as hedge funds? These investors typically have access to more sophisticated market data, so their collective movements can serve as indicators to the wider investment community.

Compare changes in average analyst ratings: The stocks listed below have buy ratings from UBS and largely from the analyst pool.

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Tool provided by Kapitall (www.kapitall.com). More investing ideas on Kapitall Wire (wire.kapitall.com).

The "Buy" rated names have seen significant net selling from hedge funds in the current quarter. Do you think they are onto something? Use this list as a starting point for your own analysis.

List Average 1-Year Return: 49%

1. Alexion Pharmaceuticals, Inc. (ALXN): Engages in the discovery, development, and commercialization of biologic therapeutic products in the United States, Europe, Latin America, Japan, and the Asia Pacific. Market cap at $20.76B, most recent closing price at $107.54. On 02/23/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 10.7M shares, which represents about 5.62% of the company's float of 190.29M shares.

2. On Assignment Inc. (ASGN): Provides flexible and permanent staffing solutions in the United States, Europe, Canada, Australia, New Zealand, and Bermuda. Market cap at $846.43M, most recent closing price at $16.29. On 06/20/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 3.9M shares, which represents about 10.17% of the company's float of 38.33M shares.

3. BioMarin Pharmaceutical Inc. (BMRN): Develops and commercializes biopharmaceuticals for serious diseases and medical conditions. Market cap at $4.74B, most recent closing price at $38.35. On 04/12/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 6.8M shares, which represents about 5.53% of the company's float of 123.00M shares.

4. Luminex Corporation (LMNX): Develops, manufactures, and sells proprietary biological testing technologies and products for the life sciences and diagnostic industries in the United States. Market cap at $805.79M, most recent closing price at $19.19. On 08/23/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 3.3M shares, which represents about 8.75% of the company's float of 37.70M shares.

5. The Fresh Market, Inc. (TFM): Operates as a specialty grocery retailer. Market cap at $2.96B, most recent closing price at $61.69. On 03/13/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 11.3M shares, which represents about 27.82% of the company's float of 40.62M shares.

6. Western Gas Partners LP (WES): Engages in the acquisition, ownership, development, and operation of midstream energy assets in east and west Texas, the Rocky Mountains, and the Mid-Continent. Market cap at $4.5B, most recent closing price at $47.0. On 06/28/2012, UBS had a Buy rating on the stock. Net institutional purchases in the current quarter at 3.6M shares, which represents about 6.63% of the company's float of 54.26M shares.

Written by Rebecca Lipman. Analyst data sourced from Reuters, institutional data from Fidelity, all other data sourced from Finviz.

Source: UBS And Hedge Funds Disagree On These 6 Stocks