J P Morgan Chase & Co reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research note published on Sunday morning. J P Morgan Chase & Co currently has a $76.00 price target on the biopharmaceutical company’s stock.

“RARE’s 3Q report this afternoon was relatively uneventful aside from a few small updates: 1) RARE now has biopsy data from 6 adult patients that are included in the FDA review of burosumab (KRN23); 2) 48 week Phase 3 data for burosumab in adults will be available by YE17; and 3) the DMTX acquisition could close as early as Nov 7 th . Additionally, the company plans on hosting an analyst day in NY on December 4 th during which they plan on sharing some additional details regarding their earlier stage pipeline.”,” the firm’s analyst wrote.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Ultragenyx Pharmaceutical from a hold rating to a sell rating in a research report on Wednesday, October 25th. Barclays PLC initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, September 6th. They set an equal weight rating and a $60.00 price objective for the company. Wedbush raised shares of Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 price objective for the company in a research report on Thursday, September 14th. Canaccord Genuity reaffirmed a buy rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 12th. Finally, BidaskClub raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $71.31.

Shares of Ultragenyx Pharmaceutical (NASDAQ RARE) opened at $45.29 on Friday. Ultragenyx Pharmaceutical has a 52-week low of $44.56 and a 52-week high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) EPS for the quarter, hitting the consensus estimate of ($1.87). The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.02 million. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the business earned ($1.64) EPS. research analysts predict that Ultragenyx Pharmaceutical will post -7.26 earnings per share for the current year.

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In related news, CEO Emil D. Kakkis acquired 7,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were acquired at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the purchase, the chief executive officer now owns 430,569 shares in the company, valued at $22,613,483.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.20% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Prudential Financial Inc. lifted its stake in Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. Prudential Financial Inc. now owns 3,660 shares of the biopharmaceutical company’s stock valued at $248,000 after acquiring an additional 200 shares in the last quarter. Amalgamated Bank lifted its stake in Ultragenyx Pharmaceutical by 4.6% during the 1st quarter. Amalgamated Bank now owns 4,628 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 202 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Ultragenyx Pharmaceutical by 7.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,474 shares of the biopharmaceutical company’s stock valued at $216,000 after acquiring an additional 248 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in Ultragenyx Pharmaceutical by 8.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock valued at $210,000 after acquiring an additional 250 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in Ultragenyx Pharmaceutical by 8.4% during the 2nd quarter. Aperio Group LLC now owns 3,851 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 299 shares in the last quarter. Institutional investors and hedge funds own 96.59% 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.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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