Ultragenyx Pharmaceutical Inc. (RARE) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
Several other research analysts have also weighed in on the company. Barclays PLC initiated coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, September 6th. They issued an equal weight rating and a $60.00 target price on the stock. Wedbush raised Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 target price on the stock in a research report on Thursday, September 14th. Canaccord Genuity reissued a buy rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 12th. BidaskClub raised Ultragenyx Pharmaceutical from a hold rating to a buy rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley reissued an equal weight rating and issued a $69.00 price objective (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $71.31.
Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) traded up $1.15 on Wednesday, hitting $47.41. The company had a trading volume of 485,000 shares, compared to its average volume of 432,008. Ultragenyx Pharmaceutical has a twelve month low of $44.45 and a twelve 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 for the quarter, hitting the consensus estimate of ($1.87). The firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.02 million. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period last year, the business posted ($1.64) earnings per share. analysts predict that Ultragenyx Pharmaceutical will post -7.24 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Ultragenyx Pharmaceutical Inc. (RARE) Raised to “Hold” at Zacks Investment Research” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/ultragenyx-pharmaceutical-inc-rare-raised-to-hold-at-zacks-investment-research/1696345.html.
In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis bought 7,500 shares of the stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the completion of the purchase, the chief executive officer now directly owns 430,569 shares of the company’s stock, valued at $22,613,483.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.20% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in RARE. Sei Investments Co. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $125,000. SG Americas Securities LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at about $156,000. Tocqueville Asset Management L.P. grew its stake in Ultragenyx Pharmaceutical by 8.0% in 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 in the last quarter. Pacer Advisors Inc. grew its stake in Ultragenyx Pharmaceutical by 12.0% in the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 365 shares in the last quarter. Finally, Kazazian Asset Management LLC acquired a new position in Ultragenyx Pharmaceutical in the second quarter worth about $213,000. Institutional investors 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ultragenyx Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.