Ultragenyx Pharmaceutical Inc. (RARE) Rating Increased to Hold at Zacks Investment Research
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Ultragenyx Pharmaceutical Inc. is involved in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases, with an initial focus on serious, debilitating metabolic genetic diseases. The Company’s product pipeline include KRN23 (UX023) for the treatment of XLH, rhGUS (UX003) for the treatment of MPS 7, rhPPCA (UX004) for the treatment of galactosialidosis, Triheptanoin (UX007) for the treatment of LC-FAOD, Triheptanoin (UX007) for the treatment of Glut1 DS and SA-ER (UX001) for the treatment of HIBM which are in different clinical phases. Ultragenyx Pharmaceutical Inc. is headquartered in Novato, California. “
Other research analysts have also issued reports about the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $75.00 price objective (up from $72.00) on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 14th. Robert W. Baird dropped their price objective on shares of Ultragenyx Pharmaceutical from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price objective (down from $95.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, August 23rd. Finally, Evercore ISI began coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 16th. They set an “in-line” rating and a $63.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.31.
Ultragenyx Pharmaceutical (NASDAQ RARE) opened at $45.48 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $44.56 and a 12 month high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($1.87). The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.02 million. The firm’s revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.64) earnings per share. equities analysts anticipate that Ultragenyx Pharmaceutical will post -7.24 earnings per share for the current year.
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In related news, CEO Emil D. Kakkis acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of $52.52 per share, for a total transaction of $393,900.00. Following the completion of the acquisition, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC increased its holdings in Ultragenyx Pharmaceutical by 83.7% during the second quarter. Cubist Systematic Strategies LLC now owns 5,570 shares of the biopharmaceutical company’s stock worth $346,000 after buying an additional 2,538 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 102,249.1% in the first quarter. BlackRock Inc. now owns 3,166,680 shares of the biopharmaceutical company’s stock worth $214,637,000 after buying an additional 3,163,586 shares during the period. State of Wisconsin Investment Board purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $1,739,000. Russell Investments Group Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 11.4% in the second quarter. Russell Investments Group Ltd. now owns 31,184 shares of the biopharmaceutical company’s stock worth $1,937,000 after buying an additional 3,195 shares during the period. Finally, AXA increased its stake in shares of Ultragenyx Pharmaceutical by 42.8% in the second quarter. AXA now owns 236,653 shares of the biopharmaceutical company’s stock worth $14,699,000 after buying an additional 70,968 shares during the period. Institutional investors and hedge funds own 96.59% 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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