ValuEngine upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.
RARE has been the subject of several other reports. BidaskClub lowered shares of Ultragenyx Pharmaceutical from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. SunTrust Banks boosted their target price on shares of Ultragenyx Pharmaceutical to $83.00 and gave the company a positive rating in a research report on Monday, August 20th. Canaccord Genuity boosted their target price on shares of Ultragenyx Pharmaceutical from $80.00 to $90.00 and gave the company a buy rating in a research report on Friday, August 3rd. Barclays upgraded shares of Ultragenyx Pharmaceutical from an equal weight rating to an overweight rating and upped their price target for the stock from $62.00 to $74.00 in a research report on Friday, May 11th. Finally, Leerink Swann upped their price target on shares of Ultragenyx Pharmaceutical from $68.00 to $95.00 and gave the stock an outperform rating in a research report on Tuesday, July 17th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $79.94.
Shares of NASDAQ RARE opened at $83.90 on Wednesday. The company has a market cap of $3.81 billion, a P/E ratio of -11.19 and a beta of 1.93. Ultragenyx Pharmaceutical has a 12-month low of $41.67 and a 12-month high of $87.33.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.08) by $1.02. The company had revenue of $12.79 million during the quarter, compared to analyst estimates of $5.63 million. Ultragenyx Pharmaceutical had a negative net margin of 703.27% and a negative return on equity of 44.09%. During the same period in the previous year, the business posted ($1.72) earnings per share. equities analysts predict that Ultragenyx Pharmaceutical will post -4.53 EPS for the current fiscal year.
In other news, CFO Shalini Sharp sold 6,700 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $80.07, for a total value of $536,469.00. Following the transaction, the chief financial officer now owns 60,178 shares of the company’s stock, valued at $4,818,452.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Karah Herdman Parschauer sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $78.53, for a total transaction of $392,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,969 shares of company stock valued at $1,500,989. Company insiders own 8.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 207,662 shares of the biopharmaceutical company’s stock worth $15,963,000 after buying an additional 3,903 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $181,000. Cowen Inc. purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $1,537,000. Orbimed Advisors LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $5,197,000. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 6.9% in the second quarter. MetLife Investment Advisors LLC now owns 21,505 shares of the biopharmaceutical company’s stock worth $1,653,000 after buying an additional 1,383 shares in the last quarter. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
Ultragenyx Pharmaceutical Company Profile
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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