Ultragenyx Pharmaceutical Inc. (RARE) Coverage Initiated at Evercore ISI
Stock analysts at Evercore ISI began coverage on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an “in-line” rating and a $63.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price target points to a potential upside of 2.71% from the company’s previous close.
Several other brokerages have also commented on RARE. Zacks Investment Research raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. SunTrust Banks, Inc. boosted their price objective on Ultragenyx Pharmaceutical from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Robert W. Baird reissued an “outperform” rating and set a $90.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, April 19th. Canaccord Genuity set a $98.00 price objective on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, BidaskClub lowered Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $83.50.
Shares of Ultragenyx Pharmaceutical (NASDAQ RARE) traded down 1.78% on Wednesday, reaching $60.25. 30,676 shares of the company were exchanged. The firm’s market capitalization is $2.56 billion. Ultragenyx Pharmaceutical has a 12-month low of $51.67 and a 12-month high of $91.35. The stock’s 50-day moving average is $64.71 and its 200 day moving average is $66.97.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.72) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.73) by $0.01. During the same period in the previous year, the business posted ($1.46) EPS. On average, analysts forecast that Ultragenyx Pharmaceutical will post ($7.24) EPS for the current year.
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In other Ultragenyx Pharmaceutical news, VP Theodore Alan Huizenga sold 480 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $57.46, for a total value of $27,580.80. Following the completion of the sale, the vice president now owns 9,366 shares in the company, valued at $538,170.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in RARE. FMR LLC increased its position in shares of Ultragenyx Pharmaceutical by 3.9% in the first quarter. FMR LLC now owns 6,110,627 shares of the biopharmaceutical company’s stock worth $414,178,000 after buying an additional 227,802 shares in the last quarter. Capital Research Global Investors increased its position in shares of Ultragenyx Pharmaceutical by 1.4% in the second quarter. Capital Research Global Investors now owns 5,183,330 shares of the biopharmaceutical company’s stock worth $321,937,000 after buying an additional 71,811 shares in the last quarter. BlackRock Inc. increased its position in shares of Ultragenyx Pharmaceutical by 10.4% in the second quarter. BlackRock Inc. now owns 3,497,591 shares of the biopharmaceutical company’s stock worth $217,237,000 after buying an additional 330,911 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ultragenyx Pharmaceutical by 4.5% in the second quarter. Vanguard Group Inc. now owns 3,130,273 shares of the biopharmaceutical company’s stock worth $194,421,000 after buying an additional 135,335 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Ultragenyx Pharmaceutical by 9.1% in the second quarter. Capital International Investors now owns 2,374,985 shares of the biopharmaceutical company’s stock worth $147,510,000 after buying an additional 198,252 shares in the last quarter. Institutional investors own 95.71% 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. 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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