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Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $91.00 at Canaccord Genuity

Last updated on Thursday, July 2, 2020 | 2020 MarketBeat

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by analysts at Canaccord Genuity from $85.00 to $91.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity's price target points to a potential upside of 7.83% from the company's current price.

A number of other brokerages have also recently commented on RARE. Credit Suisse Group increased their target price on Ultragenyx Pharmaceutical from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $79.00 to $83.00 and gave the stock an "overweight" rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical from a "hold" rating to a "buy" rating and set a $61.00 price target for the company in a report on Thursday, April 16th. Wedbush raised their price target on Ultragenyx Pharmaceutical from $83.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. The stock presently has an average rating of "Buy" and an average target price of $80.00.

NASDAQ:RARE traded down $0.26 during midday trading on Thursday, hitting $84.39. The stock had a trading volume of 5,189 shares, compared to its average volume of 571,925. The company has a quick ratio of 4.49, a current ratio of 4.54 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -11.38 and a beta of 2.28. The stock has a 50-day moving average of $71.73 and a 200 day moving average of $57.47. Ultragenyx Pharmaceutical has a one year low of $31.99 and a one year high of $85.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.91) earnings per share for the quarter, missing the Zacks' consensus estimate of ($1.68) by ($0.23). Ultragenyx Pharmaceutical had a negative return on equity of 60.65% and a negative net margin of 348.78%. The business had revenue of $36.31 million during the quarter, compared to analyst estimates of $36.74 million. During the same period in the previous year, the business earned ($1.82) EPS. The firm's revenue for the quarter was up 99.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.43 earnings per share for the current fiscal year.

In other news, SVP Theodore Alan Huizenga sold 2,461 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $71.00, for a total transaction of $174,731.00. Following the completion of the transaction, the senior vice president now owns 18,719 shares of the company's stock, valued at $1,329,049. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 1,875 shares of the company's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $65.00, for a total transaction of $121,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,555 shares of company stock worth $1,942,395. Company insiders own 8.20% of the company's stock.

A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Ultragenyx Pharmaceutical by 1,976.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 706 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 672 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $39,000. Advisor Group Holdings Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $43,000. First Mercantile Trust Co. increased its stake in Ultragenyx Pharmaceutical by 14.5% in the 1st quarter. First Mercantile Trust Co. now owns 2,161 shares of the biopharmaceutical company's stock valued at $96,000 after buying an additional 274 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 189.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,248 shares of the biopharmaceutical company's stock valued at $100,000 after buying an additional 1,471 shares during the period. 99.91% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.

Read More: SEC Filing

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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