Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a sell rating to a hold rating in a report issued 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. “
Several other equities research analysts have also recently issued reports on the company. Barclays PLC started coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, September 6th. They issued an equal weight rating and a $60.00 price target for the company. Wedbush upgraded shares of Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 price objective for the company in a research report on Thursday, September 14th. J P Morgan Chase & Co restated a buy rating and set a $76.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Sunday, November 5th. Robert W. Baird lowered their price objective on shares of Ultragenyx Pharmaceutical from $85.00 to $80.00 and set an outperform rating for the company in a research report on Friday, November 3rd. Finally, Canaccord Genuity restated a buy rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $71.60.
Shares of Ultragenyx Pharmaceutical (NASDAQ RARE) traded down $0.27 during trading hours on Wednesday, hitting $47.84. The stock had a trading volume of 223,100 shares, compared to its average volume of 433,303. 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 quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.87). The firm had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.02 million. The company’s revenue was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.64) EPS. equities research analysts expect that Ultragenyx Pharmaceutical will post -7.24 EPS for the current year.
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In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis bought 7,500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average price of $52.52 per share, for a total transaction of $393,900.00. Following the acquisition, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.20% of the company’s stock.
A number of large investors have recently bought and sold shares of RARE. UBS Asset Management Americas Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 56.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 19,841 shares of the biopharmaceutical company’s stock worth $1,345,000 after purchasing an additional 7,128 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Ultragenyx Pharmaceutical by 5.8% in the 1st quarter. Prudential Financial Inc. now owns 3,660 shares of the biopharmaceutical company’s stock worth $248,000 after buying an additional 200 shares during the period. Teachers Advisors LLC boosted its holdings in Ultragenyx Pharmaceutical by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 163,898 shares of the biopharmaceutical company’s stock worth $11,109,000 after buying an additional 5,203 shares during the period. Legal & General Group Plc boosted its holdings in Ultragenyx Pharmaceutical by 3.6% in the 1st quarter. Legal & General Group Plc now owns 12,870 shares of the biopharmaceutical company’s stock worth $870,000 after buying an additional 448 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Ultragenyx Pharmaceutical by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 2,994,938 shares of the biopharmaceutical company’s stock worth $202,997,000 after buying an additional 161,622 shares during the period. Hedge funds and other institutional investors own 94.66% of the company’s stock.
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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