Ultragenyx Pharmaceutical Inc (NASDAQ:RARE)’s share price traded up 6.7% during mid-day trading on Wednesday . The stock traded as high as $47.87 and last traded at $47.63. 503,289 shares were traded during trading, a decline of 25% from the average session volume of 675,042 shares. The stock had previously closed at $44.65.

Several equities analysts have recently issued reports on the company. BidaskClub cut Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Zacks Investment Research cut Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Raymond James Financial reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Friday, December 15th. Canaccord Genuity set a $80.00 price target on Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Barclays lifted their price target on Ultragenyx Pharmaceutical from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.06.

The company has a market capitalization of $2,080.28, a price-to-earnings ratio of -6.83 and a beta of 1.89.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 7.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,474 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 248 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Ultragenyx Pharmaceutical by 2.1% in the second quarter. California Public Employees Retirement System now owns 39,100 shares of the biopharmaceutical company’s stock worth $2,429,000 after buying an additional 800 shares during the period. Swiss National Bank boosted its position in shares of Ultragenyx Pharmaceutical by 1.8% in the third quarter. Swiss National Bank now owns 67,252 shares of the biopharmaceutical company’s stock worth $3,582,000 after buying an additional 1,200 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 6.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 26,662 shares of the biopharmaceutical company’s stock worth $1,237,000 after buying an additional 1,636 shares during the period. Finally, American International Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 8.1% in the third quarter. American International Group Inc. now owns 26,537 shares of the biopharmaceutical company’s stock worth $1,413,000 after buying an additional 1,984 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

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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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