Ultragenyx Pharmaceutical Inc. (RARE) Given Buy Rating at Canaccord Genuity

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a report released on Tuesday.

A number of other research analysts have also commented on the company. Barclays PLC assumed coverage on Ultragenyx Pharmaceutical in a 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 target price on Ultragenyx Pharmaceutical and gave the company a “hold” rating in a research note on Wednesday, August 23rd. J P Morgan Chase & Co set a $76.00 target price on Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, August 23rd. JMP Securities cut their target price on Ultragenyx Pharmaceutical from $90.00 to $80.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 23rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $69.00 target price (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Ultragenyx Pharmaceutical has an average rating of “Hold” and a consensus price target of $74.00.

Ultragenyx Pharmaceutical (RARE) traded down 0.48% during trading on Tuesday, reaching $50.27. 301,941 shares of the company’s stock were exchanged. The company’s market capitalization is $2.13 billion. The stock’s 50-day moving average price is $59.39 and its 200-day moving average price is $64.37. Ultragenyx Pharmaceutical has a 52-week low of $49.56 and a 52-week high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly 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 period last year, the business earned ($1.46) EPS. Equities analysts expect that Ultragenyx Pharmaceutical will post ($7.21) earnings per share for the current year.

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In related news, CEO Emil D. Kakkis purchased 7,500 shares of the stock in a transaction on Monday, August 28th. The shares were purchased at an average cost of $52.52 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its position in Ultragenyx Pharmaceutical by 3.9% in the first quarter. FMR LLC now owns 6,110,627 shares of the biopharmaceutical company’s stock valued at $414,178,000 after acquiring an additional 227,802 shares during the period. Capital Research Global Investors grew its position 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 period. BlackRock Inc. grew its position 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 period. Vanguard Group Inc. grew its position 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 period. Finally, Capital International Investors grew its position in Ultragenyx Pharmaceutical by 9.1% in the second quarter. Capital International Investors now owns 2,374,985 shares of the biopharmaceutical company’s stock valued at $147,510,000 after acquiring an additional 198,252 shares during the period. Hedge funds and other institutional investors own 96.18% 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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