Ultragenyx Pharmaceutical Inc. (RARE) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a sell rating to a hold rating in a report published on Wednesday.
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. “
Other analysts have also recently issued reports about the stock. Canaccord Genuity reaffirmed a buy rating and issued a $83.00 price target (down from $98.00) on shares of Ultragenyx Pharmaceutical in a report on Tuesday, August 22nd. BidaskClub raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a buy rating and issued a $85.00 price target (down from $95.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, August 23rd. J P Morgan Chase & Co set a $76.00 target price on shares of Ultragenyx Pharmaceutical and gave the company a buy rating in a research note on Wednesday, August 23rd. Finally, Robert W. Baird reiterated a buy rating on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $71.31.
Ultragenyx Pharmaceutical (RARE) traded up $1.15 on Wednesday, reaching $47.41. 485,000 shares of the company traded hands, compared to its average volume of 452,668. Ultragenyx Pharmaceutical has a 1 year low of $44.45 and a 1 year high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.87). The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.02 million. The company’s revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.64) earnings per share. equities analysts predict that Ultragenyx Pharmaceutical will post -7.24 EPS for the current fiscal year.
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In related news, CEO Emil D. Kakkis bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $52.52 per share, for a total transaction of $393,900.00. Following the transaction, the chief executive officer now directly owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $125,000. SG Americas Securities LLC acquired a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $156,000. Tocqueville Asset Management L.P. lifted its holdings in Ultragenyx Pharmaceutical by 8.0% in 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 during the last quarter. Pacer Advisors Inc. lifted its holdings in Ultragenyx Pharmaceutical by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 365 shares during the last quarter. Finally, Kazazian Asset Management LLC acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $213,000. 96.59% of the stock is owned by institutional investors.
Ultragenyx Pharmaceutical Company Profile
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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