Morgan Stanley reaffirmed their equal weight rating on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research report sent to investors on Friday, October 6th. Morgan Stanley currently has a $71.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $69.00.
Other research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a neutral rating and set a $75.00 price target (up previously from $72.00) on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, August 8th. Jefferies Group LLC reaffirmed a hold rating and set a $68.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 14th. Evercore ISI initiated coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, August 16th. They set an in-line rating and a $63.00 price target for the company. Stifel Nicolaus reaffirmed a buy rating and set a $85.00 price target (down previously from $95.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity reissued a buy rating and issued a $83.00 target price (down previously from $98.00) on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $71.94.
Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at 53.46 on Friday. The firm has a 50-day moving average of $53.62 and a 200 day moving average of $59.53. The company’s market capitalization is $2.27 billion. 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 earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) EPS for the quarter, topping the consensus estimate of ($1.73) by $0.01. During the same quarter in the previous year, the business earned ($1.46) EPS. Equities analysts predict that Ultragenyx Pharmaceutical will post ($7.14) earnings per share for the current fiscal year.
In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis bought 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the purchase, the chief executive officer now owns 430,569 shares in the company, valued at approximately $22,613,483.88. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth $125,000. Pacer Advisors Inc. increased its position in Ultragenyx Pharmaceutical by 22.6% in the first quarter. Pacer Advisors Inc. now owns 3,037 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 560 shares during the period. Strs Ohio increased its position in Ultragenyx Pharmaceutical by 10.7% in the first quarter. Strs Ohio now owns 3,100 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 300 shares during the period. Tocqueville Asset Management L.P. increased its position in 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. Finally, Kazazian Asset Management LLC acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth $213,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
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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