Ultragenyx Pharmaceutical’s (RARE) “Equal Weight” Rating Reiterated at Morgan Stanley
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)‘s stock had its “equal weight” rating restated by Morgan Stanley in a research note issued to investors on Friday. They currently have a $71.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $69.00. Morgan Stanley’s target price would indicate a potential upside of 30.73% from the stock’s previous close.
Several other research firms also recently weighed in on RARE. Zacks Investment Research raised shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Canaccord Genuity set a $98.00 target price on shares of Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub downgraded shares of Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, July 14th. Finally, J P Morgan Chase & Co set a $76.00 target price on shares of Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $71.94.
Ultragenyx Pharmaceutical (NASDAQ RARE) traded down 2.69% during trading on Friday, reaching $54.31. 345,607 shares of the company’s stock traded hands. Ultragenyx Pharmaceutical has a 1-year low of $49.56 and a 1-year high of $91.35. The stock has a 50-day moving average price of $53.76 and a 200 day moving average price of $60.56. The stock’s market capitalization is $2.31 billion.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.73) by $0.01. During the same quarter in the prior year, the company posted ($1.46) earnings per share. Equities research analysts expect that Ultragenyx Pharmaceutical will post ($7.14) earnings per share for the current year.
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In other news, CEO Emil D. Kakkis bought 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, August 28th. The stock was purchased at an average cost of $52.52 per share, with a total value of $393,900.00. Following the purchase, the chief executive officer now directly owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its stake in Ultragenyx Pharmaceutical by 3.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,226 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 115 shares during the period. Prudential Financial Inc. boosted its stake in Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. Prudential Financial Inc. now owns 3,660 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 200 shares during the period. Amalgamated Bank boosted its stake in Ultragenyx Pharmaceutical by 4.6% during the 1st quarter. Amalgamated Bank now owns 4,628 shares of the biopharmaceutical company’s stock valued at $314,000 after purchasing an additional 202 shares during the period. Tocqueville Asset Management L.P. boosted its stake in Ultragenyx Pharmaceutical by 8.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 250 shares during the period. Finally, Aperio Group LLC boosted its stake in Ultragenyx Pharmaceutical by 8.4% during the 2nd quarter. Aperio Group LLC now owns 3,851 shares of the biopharmaceutical company’s stock valued at $239,000 after purchasing an additional 299 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.
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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