Ultragenyx Pharmaceutical Inc. (RARE) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a sell rating to a hold rating in a research report sent to investors on Wednesday, November 8th.

According to Zacks, “Ultragenyx Pharmaceutical Inc. is involved in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases, with an initial focus on serious, debilitating metabolic genetic diseases. The Company’s product pipeline include KRN23 (UX023) for the treatment of XLH, rhGUS (UX003) for the treatment of MPS 7, rhPPCA (UX004) for the treatment of galactosialidosis, Triheptanoin (UX007) for the treatment of LC-FAOD, Triheptanoin (UX007) for the treatment of Glut1 DS and SA-ER (UX001) for the treatment of HIBM which are in different clinical phases. Ultragenyx Pharmaceutical Inc. is headquartered in Novato, California. “

RARE has been the subject of a number of other reports. Canaccord Genuity set a $98.00 price objective on shares of Ultragenyx Pharmaceutical and gave the stock a buy rating in a research note on Friday, July 28th. BidaskClub cut shares of Ultragenyx Pharmaceutical from a buy rating to a hold rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a hold rating and set a $68.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 14th. J P Morgan Chase & Co set a $76.00 price objective on shares of Ultragenyx Pharmaceutical and gave the stock a buy rating in a research note on Wednesday, August 23rd. Finally, Morgan Stanley reissued an equal weight rating and set a $69.00 price objective (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $71.60.

Shares of Ultragenyx Pharmaceutical (NASDAQ RARE) traded down $1.46 during trading on Wednesday, reaching $47.45. 298,211 shares of the company’s stock were exchanged, compared to its average volume of 430,689. Ultragenyx Pharmaceutical has a 12 month low of $44.02 and a 12 month high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($1.87). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same period last year, the business posted ($1.64) earnings per share. The company’s quarterly revenue was up 81.8% on a year-over-year basis. equities research analysts anticipate that Ultragenyx Pharmaceutical will post -7.26 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth approximately $125,000. SG Americas Securities LLC acquired a new stake in Ultragenyx Pharmaceutical during the third quarter worth approximately $156,000. Tocqueville Asset Management L.P. boosted its position in Ultragenyx Pharmaceutical by 8.0% during the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 250 shares during the last quarter. Pacer Advisors Inc. boosted its position in Ultragenyx Pharmaceutical by 12.0% during the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 365 shares during the last quarter. Finally, Kazazian Asset Management LLC acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 94.66% 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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