Ultragenyx Pharmaceutical (NASDAQ:RARE) has been assigned a $80.00 price objective by investment analysts at Canaccord Genuity in a report released on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 75.55% from the stock’s previous close.

RARE has been the subject of a number of other reports. Zacks Investment Research downgraded Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Barclays initiated coverage on Ultragenyx Pharmaceutical in a report on Wednesday, September 6th. They set an “equal weight” rating and a $60.00 price target for the company. Jefferies Group upgraded Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating and increased their price target for the stock from $58.00 to $72.00 in a report on Monday, December 4th. Cowen reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $71.00 price target (up from $69.00) on shares of Ultragenyx Pharmaceutical in a report on Friday, October 6th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Ultragenyx Pharmaceutical presently has an average rating of “Buy” and a consensus price target of $72.40.

Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down $0.60 during midday trading on Tuesday, reaching $45.57. The company had a trading volume of 494,085 shares, compared to its average volume of 495,415. Ultragenyx Pharmaceutical has a 1-year low of $44.02 and a 1-year high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($1.87). The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.02 million. The business’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.64) earnings per share. equities analysts anticipate that Ultragenyx Pharmaceutical will post -7.27 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors increased its stake in shares of Ultragenyx Pharmaceutical by 1.4% during the 2nd quarter. Capital Research Global Investors now owns 5,183,330 shares of the biopharmaceutical company’s stock worth $321,937,000 after purchasing an additional 71,811 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 10.4% during the 2nd quarter. BlackRock Inc. now owns 3,497,591 shares of the biopharmaceutical company’s stock worth $217,237,000 after purchasing an additional 330,911 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,130,273 shares of the biopharmaceutical company’s stock worth $194,421,000 after purchasing an additional 135,335 shares during the last quarter. Capital International Investors increased its stake in shares of Ultragenyx Pharmaceutical by 21.9% during the 3rd quarter. Capital International Investors now owns 2,895,481 shares of the biopharmaceutical company’s stock worth $154,213,000 after purchasing an additional 520,496 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Ultragenyx Pharmaceutical by 21.4% during the 2nd quarter. State Street Corp now owns 1,536,285 shares of the biopharmaceutical company’s stock worth $95,417,000 after purchasing an additional 270,729 shares during the last quarter. 94.13% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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