Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has been assigned a $120.00 price target by investment analysts at Canaccord Genuity in a research report issued on Tuesday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price suggests a potential upside of 62.62% from the company’s previous close.

RARE has been the subject of several other research reports. Morgan Stanley reissued a “hold” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, June 8th. Jefferies Group set a $109.00 price objective on Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research note on Sunday. Credit Suisse Group AG reissued a “buy” rating and set a $101.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, August 9th. Leerink Swann reissued a “buy” rating and set a $85.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 15th. Finally, Piper Jaffray Cos. began coverage on Ultragenyx Pharmaceutical in a research note on Thursday, July 7th. They set an “overweight” rating and a $70.00 price target for the company. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $97.89.

Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at 73.79 on Tuesday. Ultragenyx Pharmaceutical has a 52 week low of $46.52 and a 52 week high of $117.12. The firm’s market cap is $2.91 billion. The stock has a 50 day moving average price of $67.89 and a 200 day moving average price of $63.14.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($1.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by $0.02. During the same quarter in the prior year, the company earned ($0.83) earnings per share. Equities analysts expect that Ultragenyx Pharmaceutical will post ($5.96) earnings per share for the current year.

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $50.85, for a total transaction of $1,017,000.00. Following the transaction, the chief executive officer now owns 513,597 shares in the company, valued at approximately $26,116,407.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sunil Agarwal sold 649 shares of the business’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $52.68, for a total value of $34,189.32. The disclosure for this sale can be found here. Corporate insiders own 10.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $34,393,000. CQS Cayman LP acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth about $4,071,000. Teachers Advisors Inc. increased its position in shares of Ultragenyx Pharmaceutical by 20.7% in the first quarter. Teachers Advisors Inc. now owns 164,447 shares of the biopharmaceutical company’s stock worth $10,411,000 after buying an additional 28,249 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Ultragenyx Pharmaceutical by 1.6% in the first quarter. BlackRock Fund Advisors now owns 1,442,851 shares of the biopharmaceutical company’s stock worth $91,347,000 after buying an additional 23,389 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ultragenyx Pharmaceutical by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 257,531 shares of the biopharmaceutical company’s stock worth $16,305,000 after buying an additional 14,863 shares in the last quarter. Institutional investors own 93.06% 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. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment.

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