Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) received a $120.00 price objective from stock analysts at Canaccord Genuity in a research note issued on Tuesday. The firm currently has a a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target suggests a potential upside of 58.00% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Jefferies Group reissued a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 12th. Piper Jaffray Cos. set a $82.00 price objective on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a report on Tuesday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, July 18th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Friday, July 15th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $97.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down 3.92% during trading on Tuesday, reaching $72.97. The company had a trading volume of 1,139,884 shares. Ultragenyx Pharmaceutical has a 1-year low of $46.52 and a 1-year high of $117.12. The stock’s market capitalization is $2.88 billion. The firm has a 50-day moving average of $67.59 and a 200-day moving average of $63.06.

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-pt-set-at-120-00-by-canaccord-genuity.html

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.02. During the same quarter in the previous year, the firm earned ($0.83) earnings per share. On average, analysts anticipate that Ultragenyx Pharmaceutical will post ($5.96) EPS for the current fiscal year.

In other news, insider Sunil Agarwal sold 649 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $52.68, for a total transaction of $34,189.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $67.61, for a total transaction of $1,352,200.00. Following the sale, the chief executive officer now owns 493,244 shares of the company’s stock, valued at $33,348,226.84. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Ultragenyx Pharmaceutical by 79.9% in the first quarter. Wellington Management Group LLP now owns 4,132,430 shares of the biopharmaceutical company’s stock worth $261,625,000 after buying an additional 1,835,196 shares during the last quarter. Vanguard Group Inc. increased its stake in Ultragenyx Pharmaceutical by 4.9% in the second quarter. Vanguard Group Inc. now owns 2,589,718 shares of the biopharmaceutical company’s stock worth $126,664,000 after buying an additional 120,999 shares during the last quarter. BlackRock Fund Advisors increased its stake in Ultragenyx Pharmaceutical by 1.6% in the first quarter. BlackRock Fund Advisors now owns 1,442,851 shares of the biopharmaceutical company’s stock worth $91,347,000 after buying an additional 23,389 shares during the last quarter. State Street Corp increased its stake in Ultragenyx Pharmaceutical by 30.6% in the first quarter. State Street Corp now owns 1,284,324 shares of the biopharmaceutical company’s stock worth $81,315,000 after buying an additional 300,901 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Ultragenyx Pharmaceutical by 32.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 638,500 shares of the biopharmaceutical company’s stock worth $31,229,000 after buying an additional 155,000 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

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. 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.