Ultragenyx Pharmaceutical Inc. (RARE) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research note issued to investors on Tuesday morning.

Several other analysts have also weighed in on the stock. Wedbush upgraded shares of Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 target price for the company in a research note on Thursday, September 14th. Canaccord Genuity restated a buy rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 12th. Barclays PLC began 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 target for the company. Jefferies Group LLC set a $62.00 price target on shares of Ultragenyx Pharmaceutical and gave the stock a hold rating in a research report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co set a $76.00 price target on shares of Ultragenyx Pharmaceutical and gave the stock a buy rating in a research report on Wednesday, August 23rd. One 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 a consensus rating of Hold and a consensus price target of $71.65.

Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at 51.90 on Tuesday. Ultragenyx Pharmaceutical has a 1-year low of $49.56 and a 1-year high of $91.35. The firm’s market cap is $2.20 billion. The stock has a 50 day moving average of $56.51 and a 200 day moving average of $62.94.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, beating the consensus estimate of ($1.73) by $0.01. During the same quarter in the prior year, the business posted ($1.46) EPS. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post ($7.21) earnings per share for the current fiscal year.

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In related news, CEO Emil D. Kakkis acquired 7,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $52.52 per share, for a total transaction of $393,900.00. Following the acquisition, the chief executive officer now owns 430,569 shares in the company, valued at $22,613,483.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased 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 valued at $216,000 after purchasing an additional 248 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Ultragenyx Pharmaceutical by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,864 shares of the biopharmaceutical company’s stock valued at $1,917,000 after purchasing an additional 2,212 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 83.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,570 shares of the biopharmaceutical company’s stock valued at $346,000 after purchasing an additional 2,538 shares during the period. State Street Corp increased its holdings in shares of Ultragenyx Pharmaceutical by 21.4% in 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. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Ultragenyx Pharmaceutical by 12.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 18,198 shares of the biopharmaceutical company’s stock valued at $1,129,000 after purchasing an additional 2,044 shares during the period. Institutional investors own 96.07% 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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