Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has been assigned a $120.00 target price by Canaccord Genuity in a report issued on Tuesday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price objective points to a potential upside of 58.00% from the company’s previous close.

Other analysts have also issued research reports about the stock. Cowen and Company restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 15th. Leerink Swann restated a “buy” rating and set a $85.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 15th. Credit Suisse Group AG restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 12th. JMP Securities restated a “buy” rating and set a $84.00 price target (up previously from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, June 8th. Finally, Jefferies Group restated a “buy” rating and set a $109.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $97.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down 3.99% during trading on Tuesday, reaching $72.92. 1,140,171 shares of the company were exchanged. The firm’s 50 day moving average price is $67.59 and its 200-day moving average price is $63.06. Ultragenyx Pharmaceutical has a one year low of $46.52 and a one year high of $117.12. The stock’s market capitalization is $2.88 billion.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/ultragenyx-pharmaceutical-inc-rare-given-a-120-00-price-target-by-canaccord-genuity-analysts.html

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($1.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.44) by $0.02. During the same quarter last year, the company posted ($0.83) EPS. On average, equities research analysts predict that Ultragenyx Pharmaceutical will post ($5.96) earnings per share for the current year.

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $50.85, for a total transaction of $1,017,000.00. Following the sale, the chief executive officer now directly owns 513,597 shares of the company’s stock, valued at $26,116,407.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sunil Agarwal sold 649 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $52.68, for a total transaction of $34,189.32. The disclosure for this sale can be found here. Company insiders own 10.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RARE. Adage Capital Partners GP L.L.C. increased its stake in Ultragenyx Pharmaceutical by 45.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 483,500 shares of the biopharmaceutical company’s stock valued at $30,610,000 after buying an additional 150,000 shares during the period. State Street Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 30.6% in the first quarter. State Street Corp now owns 1,284,324 shares of the biopharmaceutical company’s stock valued at $81,315,000 after buying an additional 300,901 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Ultragenyx Pharmaceutical by 222.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 59,720 shares of the biopharmaceutical company’s stock valued at $2,971,000 after buying an additional 41,200 shares in the last quarter. Princeton Alpha Management LP bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $216,000. Finally, Bellevue Group AG bought a new stake in shares of Ultragenyx Pharmaceutical during the first quarter valued at $633,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment.

5 Day Chart for NASDAQ:RARE

Receive News & Ratings for Ultragenyx Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.