Ultragenyx Pharmaceutical Inc. (RARE) Coverage Initiated at Barclays PLC
Barclays PLC started coverage on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research report issued on Wednesday, Marketbeat reports. The firm set an “equal weight” rating and a $60.00 price target on the biopharmaceutical company’s stock. Barclays PLC’s price objective suggests a potential upside of 20.10% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, June 30th. Cowen and Company reaffirmed an “outperform” rating on shares of Ultragenyx Pharmaceutical in a report on Thursday, June 29th. ValuEngine raised shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.00.
Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down 0.08% during mid-day trading on Wednesday, reaching $49.96. 291,919 shares of the company’s stock traded hands. The company’s market cap is $2.12 billion. Ultragenyx Pharmaceutical has a 12-month low of $49.56 and a 12-month high of $91.35. The company’s 50 day moving average is $59.95 and its 200 day moving average is $64.74.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.73) by $0.01. During the same quarter last year, the business posted ($1.46) EPS. On average, analysts predict that Ultragenyx Pharmaceutical will post ($7.21) EPS for the current fiscal year.
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In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis purchased 7,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average cost of $52.52 per share, with a total value of $393,900.00. Following the completion of the purchase, the chief executive officer now owns 430,569 shares in the company, valued at approximately $22,613,483.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.20% of the company’s stock.
Several large investors have recently bought and sold shares of RARE. Fortaleza Asset Management Inc. raised its stake in Ultragenyx Pharmaceutical by 148.5% during the first quarter. Fortaleza Asset Management Inc. now owns 1,640 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 980 shares during the period. Sei Investments Co. purchased a new position in Ultragenyx Pharmaceutical during the second quarter worth about $125,000. Pacer Advisors Inc. raised its stake in Ultragenyx Pharmaceutical by 22.6% during the first quarter. Pacer Advisors Inc. now owns 3,037 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 560 shares during the period. Strs Ohio raised its stake in Ultragenyx Pharmaceutical by 10.7% during the first quarter. Strs Ohio now owns 3,100 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 300 shares during the period. Finally, Tocqueville Asset Management L.P. raised its stake 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 purchasing an additional 250 shares during the period. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
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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