Ultragenyx Pharmaceutical Inc. (RARE) Upgraded to Outperform by Wedbush
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) was upgraded by stock analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Thursday.
Several other analysts also recently weighed in on RARE. HC Wainwright reiterated a “neutral” rating and set a $75.00 target price (up from $72.00) on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 8th. Jefferies Group LLC reiterated a “hold” rating and set a $68.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, July 14th. Evercore ISI assumed coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, August 16th. They set an “in-line” rating and a $63.00 target price for the company. Canaccord Genuity reiterated a “buy” rating and set a $83.00 target price (down from $98.00) on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $85.00 target price (down from $95.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Ultragenyx Pharmaceutical presently has an average rating of “Hold” and an average price target of $74.00.
Shares of Ultragenyx Pharmaceutical (NASDAQ RARE) opened at 49.79 on Thursday. The stock has a 50 day moving average of $58.78 and a 200-day moving average of $64.17. The stock’s market capitalization is $2.11 billion. Ultragenyx Pharmaceutical has a 52-week low of $49.56 and a 52-week high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, topping the consensus estimate of ($1.73) by $0.01. During the same period in the prior year, the company earned ($1.46) EPS. Analysts predict that Ultragenyx Pharmaceutical will post ($7.21) EPS for the current fiscal year.
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In other news, CEO Emil D. Kakkis bought 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, August 28th. The stock was acquired at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the completion of the acquisition, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RARE. Sei Investments Co. bought a new position in Ultragenyx Pharmaceutical in the second quarter worth about $125,000. Pacer Advisors Inc. raised its holdings in Ultragenyx Pharmaceutical by 22.6% in the first quarter. Pacer Advisors Inc. now owns 3,037 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 560 shares in the last quarter. Strs Ohio raised its holdings in Ultragenyx Pharmaceutical by 10.7% in the first quarter. Strs Ohio now owns 3,100 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 300 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Ultragenyx Pharmaceutical by 8.0% in the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 250 shares in the last quarter. Finally, Kazazian Asset Management LLC bought a new position in Ultragenyx Pharmaceutical in the second quarter worth about $213,000. Institutional investors and hedge funds own 96.18% 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. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.
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