Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Ultragenyx Pharmaceutical Inc. is involved in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases, with an initial focus on serious, debilitating metabolic genetic diseases. The Company’s product pipeline include KRN23 (UX023) for the treatment of XLH, rhGUS (UX003) for the treatment of MPS 7, rhPPCA (UX004) for the treatment of galactosialidosis, Triheptanoin (UX007) for the treatment of LC-FAOD, Triheptanoin (UX007) for the treatment of Glut1 DS and SA-ER (UX001) for the treatment of HIBM which are in different clinical phases. Ultragenyx Pharmaceutical Inc. is headquartered in Novato, California. “

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $106.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 9th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $79.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 8th. Wedbush reissued an “outperform” rating and set a $92.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 8th. Canaccord Genuity set a $120.00 target price on shares of Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research report on Friday, October 21st. Finally, HC Wainwright reissued a “buy” rating and set a $109.00 target price (up previously from $102.00) on shares of Ultragenyx Pharmaceutical in a research report on Sunday, September 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.23.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at 81.74 on Friday. The company’s market cap is $3.34 billion. The firm has a 50-day moving average of $66.66 and a 200-day moving average of $63.72. Ultragenyx Pharmaceutical has a 52-week low of $46.52 and a 52-week high of $117.12.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($1.64) earnings per share for the quarter, missing the consensus estimate of ($1.53) by $0.11. During the same period in the previous year, the firm earned ($1.03) EPS. Equities research analysts forecast that Ultragenyx Pharmaceutical will post ($6.14) earnings per share for the current year.

In related news, CFO Shalini Sharp sold 12,000 shares of the firm’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $61.40, for a total transaction of $736,800.00. Following the sale, the chief financial officer now owns 57,387 shares in the company, valued at $3,523,561.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction on Friday, October 14th. The shares were sold at an average price of $63.02, for a total transaction of $1,260,400.00. Following the sale, the chief executive officer now owns 480,632 shares in the company, valued at approximately $30,289,428.64. The disclosure for this sale can be found here. Corporate insiders own 10.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. raised its stake in Ultragenyx Pharmaceutical by 45.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 483,500 shares of the biopharmaceutical company’s stock valued at $30,610,000 after buying an additional 150,000 shares in the last quarter. State Street Corp raised its stake in Ultragenyx Pharmaceutical by 30.6% in the first quarter. State Street Corp now owns 1,284,324 shares of the biopharmaceutical company’s stock valued at $81,315,000 after buying an additional 300,901 shares in the last quarter. CAM Group Holding A S raised its stake in Ultragenyx Pharmaceutical by 52.5% in the second quarter. CAM Group Holding A S now owns 61,000 shares of the biopharmaceutical company’s stock valued at $2,984,000 after buying an additional 21,000 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in Ultragenyx Pharmaceutical during the second quarter valued at approximately $216,000. Finally, DekaBank Deutsche Girozentrale raised its stake in Ultragenyx Pharmaceutical by 222.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 59,720 shares of the biopharmaceutical company’s stock valued at $2,971,000 after buying an additional 41,200 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment.

5 Day Chart for NASDAQ:RARE

Receive News & Stock Ratings for Ultragenyx Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical Inc. and related stocks with our FREE daily email newsletter.