Ultragenyx Pharmaceutical’s (RARE) “Buy” Rating Reaffirmed at Cowen and Company
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a report issued on Wednesday.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. J P Morgan Chase & Co reissued a “buy” rating and issued a $76.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Sunday, November 5th. Robert W. Baird dropped their target price on shares of Ultragenyx Pharmaceutical from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $71.00 target price (up from $69.00) on shares of Ultragenyx Pharmaceutical in a research report on Friday, October 6th. Finally, Wedbush raised shares of Ultragenyx Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $62.00 target price on the stock in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $71.80.
Ultragenyx Pharmaceutical (NASDAQ RARE) traded up $1.77 during trading on Wednesday, hitting $47.32. 741,000 shares of the stock traded hands, compared to its average volume of 433,449. Ultragenyx Pharmaceutical has a 1-year low of $44.02 and a 1-year high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share for the quarter, hitting the consensus estimate of ($1.87). The firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.02 million. The business’s revenue was up 81.8% on a year-over-year basis. During the same period last year, the business earned ($1.64) earnings per share. research analysts predict that Ultragenyx Pharmaceutical will post -7.24 EPS for the current year.
In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis bought 7,500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was bought at an average cost of $52.52 per share, with a total value of $393,900.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 9.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Sei Investments Co. bought a new stake in Ultragenyx Pharmaceutical in the second quarter worth approximately $125,000. SG Americas Securities LLC bought a new stake in Ultragenyx Pharmaceutical in the third quarter worth approximately $156,000. Tocqueville Asset Management L.P. grew its position 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 acquiring an additional 250 shares in the last quarter. Pacer Advisors Inc. grew its position in Ultragenyx Pharmaceutical by 12.0% in the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 365 shares in the last quarter. Finally, Kazazian Asset Management LLC bought a new stake in Ultragenyx Pharmaceutical in the second quarter worth approximately $213,000. 95.97% 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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