Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $73.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Ultragenyx is encouraged by the growing demand for Crysvita from both children and adults, with X-linked hypophosphatemia (XLH) in the United States. The company looks forward to expand the global commercial reach of its approved therapies in 2019. It also expects to file for potential approval of its third therapy, UX007 in fatty acid oxidation disorders in the year. Ultragenyx continues to advance the two gene therapy clinical programs — DTX401 for glycogen storage disease type Ia and DTX301 for ornithine transcarbamylase deficiency — with additional data expected to be released in 2019. However, Since Ultragenyx is a newly commercial company with lower revenues, development or regulatory setbacks could result in higher operating expenses and the need for additional capital. Loss estimates have widened ahead of the Q1 earnings results. The company has a positive record of earnings surprises in recent quarters.”
Other equities analysts have also recently issued research reports about the stock. Raymond James reaffirmed an outperform rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 22nd. BidaskClub cut shares of Ultragenyx Pharmaceutical from a buy rating to a hold rating in a report on Wednesday, March 6th. Credit Suisse Group reissued a hold rating and issued a $59.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 20th. ValuEngine raised shares of Ultragenyx Pharmaceutical from a buy rating to a strong-buy rating in a report on Friday, March 1st. Finally, Wedbush reissued an outperform rating and issued a $88.00 target price on shares of Ultragenyx Pharmaceutical in a report on Monday, January 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $78.39.
Shares of RARE stock opened at $67.79 on Tuesday. Ultragenyx Pharmaceutical has a one year low of $37.44 and a one year high of $90.98. The stock has a market cap of $3.40 billion, a PE ratio of -9.17 and a beta of 2.22.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, February 19th. The biopharmaceutical company reported ($1.73) EPS for the quarter, topping the consensus estimate of ($1.74) by $0.01. Ultragenyx Pharmaceutical had a negative net margin of 383.75% and a negative return on equity of 35.26%. The business had revenue of $16.26 million for the quarter, compared to analysts’ expectations of $13.30 million. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -6.65 EPS for the current fiscal year.
In other Ultragenyx Pharmaceutical news, CFO Shalini Sharp sold 14,800 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $70.00, for a total value of $1,036,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the business. Strs Ohio increased its stake in shares of Ultragenyx Pharmaceutical by 235.3% in the first quarter. Strs Ohio now owns 5,700 shares of the biopharmaceutical company’s stock valued at $395,000 after purchasing an additional 4,000 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 321.1% in the first quarter. Meeder Asset Management Inc. now owns 598 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Virtu Financial LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $432,000. Woodstock Corp acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $778,000. Finally, Capital Impact Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 31.7% in the fourth quarter. Capital Impact Advisors LLC now owns 37,858 shares of the biopharmaceutical company’s stock valued at $1,585,000 after purchasing an additional 9,112 shares during the period. Institutional investors own 98.62% of the company’s stock.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.
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