Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price dropped 2.7% on Tuesday . The stock traded as low as $44.02 and last traded at $48.67. Approximately 318,000 shares were traded during trading, a decline of 26% from the average daily volume of 431,487 shares. The stock had previously closed at $47.41.
RARE has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and set a $83.00 price target (down previously from $98.00) on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 22nd. BidaskClub raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target (down previously from $95.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. J P Morgan Chase & Co set a $76.00 price target on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, Robert W. Baird reissued a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Ultragenyx Pharmaceutical presently has an average rating of “Hold” and a consensus price target of $71.31.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($1.87). The firm had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.02 million. During the same quarter in the previous year, the business posted ($1.64) EPS. Ultragenyx Pharmaceutical’s revenue was up 81.8% compared to the same quarter last year. sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -7.24 EPS for the current year.
In other news, CEO Emil D. Kakkis bought 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 430,569 shares of the company’s stock, valued at $22,613,483.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its holdings in Ultragenyx Pharmaceutical by 1.4% in the second quarter. Capital Research Global Investors now owns 5,183,330 shares of the biopharmaceutical company’s stock valued at $321,937,000 after acquiring an additional 71,811 shares during the last quarter. BlackRock Inc. boosted its holdings in Ultragenyx Pharmaceutical by 10.4% in the second quarter. BlackRock Inc. now owns 3,497,591 shares of the biopharmaceutical company’s stock valued at $217,237,000 after acquiring an additional 330,911 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ultragenyx Pharmaceutical by 4.5% in the second quarter. Vanguard Group Inc. now owns 3,130,273 shares of the biopharmaceutical company’s stock valued at $194,421,000 after acquiring an additional 135,335 shares during the last quarter. Capital International Investors boosted its holdings in Ultragenyx Pharmaceutical by 21.9% in the third quarter. Capital International Investors now owns 2,895,481 shares of the biopharmaceutical company’s stock valued at $154,213,000 after acquiring an additional 520,496 shares during the last quarter. Finally, State Street Corp boosted its holdings in Ultragenyx Pharmaceutical by 21.4% in the second quarter. State Street Corp now owns 1,536,285 shares of the biopharmaceutical company’s stock valued at $95,417,000 after acquiring an additional 270,729 shares during the last quarter. Hedge funds and other institutional investors own 95.97% 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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