Ultragenyx Pharmaceutical (RARE) Sets New 52-Week High at $87.85

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Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $87.85 and last traded at $87.56, with a volume of 17171 shares. The stock had previously closed at $82.52.

Several research firms have issued reports on RARE. BidaskClub upgraded Ultragenyx Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. credit lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $67.00 to $80.00 in a research note on Thursday, June 21st. Wedbush increased their price objective on Ultragenyx Pharmaceutical from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 30th. ValuEngine upgraded Ultragenyx Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. Finally, Credit Suisse Group lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $67.00 to $80.00 in a research note on Thursday, June 21st. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.71.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.08) by $1.02. Ultragenyx Pharmaceutical had a negative return on equity of 44.09% and a negative net margin of 703.27%. The company had revenue of $12.79 million during the quarter, compared to analyst estimates of $5.63 million. During the same period last year, the company posted ($1.72) earnings per share. equities research analysts predict that Ultragenyx Pharmaceutical Inc will post -4.53 earnings per share for the current fiscal year.

In related news, VP Theodore Alan Huizenga sold 1,338 shares of Ultragenyx Pharmaceutical stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $76.97, for a total value of $102,985.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 5,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $78.53, for a total value of $392,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,269 shares of company stock valued at $964,520. 8.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 3,903 shares during the period. Advisors Asset Management Inc. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $181,000. Cowen Inc. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $1,537,000. Orbimed Advisors LLC acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $5,197,000. Finally, MetLife Investment Advisors LLC increased its position in 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 purchasing an additional 1,383 shares during the period. Hedge funds and other institutional investors own 96.25% of the company’s stock.

About Ultragenyx Pharmaceutical (NASDAQ:RARE)

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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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