Ultragenyx Pharmaceutical Inc. (RARE) Lifted to Outperform at Wedbush

Wedbush upgraded shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a neutral rating to an outperform rating in a research note released on Thursday, MarketBeat Ratings reports. Wedbush currently has $62.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on RARE. HC Wainwright reissued a neutral rating and issued a $75.00 target price (up previously from $72.00) on shares of Ultragenyx Pharmaceutical in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a hold rating and issued a $68.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, July 14th. Evercore ISI initiated coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, August 16th. They issued an in-line rating and a $63.00 price objective for the company. Canaccord Genuity reiterated a buy rating and issued a $83.00 price objective (down previously from $98.00) on shares of Ultragenyx Pharmaceutical in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus reiterated a buy rating and issued a $85.00 price objective (down previously from $95.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, August 23rd. 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. The company presently has an average rating of Hold and a consensus target price of $71.65.

Ultragenyx Pharmaceutical (RARE) opened at 55.23 on Thursday. Ultragenyx Pharmaceutical has a one year low of $49.56 and a one year high of $91.35. The company’s market capitalization is $2.34 billion. The company’s 50-day moving average is $57.32 and its 200 day moving average is $63.78.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.73) by $0.01. During the same quarter in the prior year, the firm posted ($1.46) earnings per share. Analysts predict that Ultragenyx Pharmaceutical will post ($7.21) EPS for the current year.

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In other news, CEO Emil D. Kakkis bought 7,500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was acquired at an average price of $52.52 per share, with a total value of $393,900.00. Following the transaction, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RARE. BlackRock Inc. increased its position in Ultragenyx Pharmaceutical by 102,249.1% during the 1st quarter. BlackRock Inc. now owns 3,166,680 shares of the biopharmaceutical company’s stock valued at $214,637,000 after purchasing an additional 3,163,586 shares during the period. State Street Corp increased its position in Ultragenyx Pharmaceutical by 21.4% during the 2nd quarter. State Street Corp now owns 1,536,285 shares of the biopharmaceutical company’s stock valued at $95,417,000 after purchasing an additional 270,729 shares during the period. FMR LLC increased its position in Ultragenyx Pharmaceutical by 3.9% during the 1st quarter. FMR LLC now owns 6,110,627 shares of the biopharmaceutical company’s stock valued at $414,178,000 after purchasing an additional 227,802 shares during the period. Royal Bank of Canada increased its position in Ultragenyx Pharmaceutical by 933.2% during the 2nd quarter. Royal Bank of Canada now owns 224,261 shares of the biopharmaceutical company’s stock valued at $13,929,000 after purchasing an additional 202,556 shares during the period. Finally, Capital International Investors increased its position in Ultragenyx Pharmaceutical by 9.1% during the 2nd quarter. Capital International Investors now owns 2,374,985 shares of the biopharmaceutical company’s stock valued at $147,510,000 after purchasing an additional 198,252 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.

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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