Jefferies Group upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from a hold rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports. Jefferies Group currently has $72.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $58.00. Jefferies Group also issued estimates for Ultragenyx Pharmaceutical’s FY2018 earnings at ($6.88) EPS, FY2019 earnings at ($6.43) EPS, FY2020 earnings at ($4.94) EPS and FY2021 earnings at ($2.12) EPS.
Other equities research analysts have also issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $85.00 price objective (down from $95.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. JMP Securities dropped their price target on Ultragenyx Pharmaceutical from $90.00 to $80.00 and set a market outperform rating on the stock in a research report on Wednesday, August 23rd. Leerink Swann restated an outperform rating and set a $83.00 price target (down from $89.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. Cowen restated an outperform rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. Finally, Morgan Stanley restated an equal weight rating and set a $69.00 price target (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $72.40.
Shares of Ultragenyx Pharmaceutical (RARE) traded down $1.18 during mid-day trading on Monday, hitting $48.78. The stock had a trading volume of 534,000 shares, compared to its average volume of 438,441. Ultragenyx Pharmaceutical has a 12-month low of $44.02 and a 12-month high of $91.35.
A number of large investors have recently made changes to their positions in RARE. Sei Investments Co. bought a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth about $125,000. SG Americas Securities LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth approximately $156,000. Tocqueville Asset Management L.P. raised its holdings in shares of Ultragenyx Pharmaceutical by 8.0% in the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 250 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 12.0% in the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 365 shares during the period. Finally, Kazazian Asset Management LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $213,000. Institutional investors and hedge funds own 94.13% of the company’s stock.
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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.
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