Ultragenyx Pharmaceutical (RARE) Price Target Raised to $72.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price lifted by Bank of America from $61.00 to $72.00 in a report issued on Tuesday morning.

RARE has been the subject of several other reports. BidaskClub cut shares of Ultragenyx Pharmaceutical from a hold rating to a sell rating in a research report on Friday, February 9th. Zacks Investment Research cut shares of Ultragenyx Pharmaceutical from a hold rating to a sell rating in a research report on Tuesday, January 30th. Morgan Stanley reiterated an equal weight rating and set a $60.00 price objective (up from $57.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 21st. Credit Suisse Group assumed coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 17th. They set an outperform rating and a $67.00 price objective for the company. Finally, Piper Jaffray reiterated an overweight rating and set a $67.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Thursday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $69.76.

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Shares of NASDAQ RARE opened at $53.87 on Tuesday. Ultragenyx Pharmaceutical has a 52-week low of $41.67 and a 52-week high of $71.99. The company has a market capitalization of $2,723.86, a price-to-earnings ratio of -7.18 and a beta of 1.83.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported ($2.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.00) by ($0.27). The business had revenue of $2.41 million for the quarter, compared to analysts’ expectations of $0.75 million. During the same period in the prior year, the business posted ($1.75) EPS. equities research analysts predict that Ultragenyx Pharmaceutical will post -6.13 earnings per share for the current year.

A number of large investors have recently bought and sold shares of RARE. Bank of New York Mellon Corp grew its holdings in Ultragenyx Pharmaceutical by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 182,572 shares of the biopharmaceutical company’s stock worth $9,723,000 after purchasing an additional 6,736 shares during the period. Russell Investments Group Ltd. grew its holdings in Ultragenyx Pharmaceutical by 28.7% in the third quarter. Russell Investments Group Ltd. now owns 40,120 shares of the biopharmaceutical company’s stock worth $2,137,000 after purchasing an additional 8,936 shares during the period. SG Americas Securities LLC acquired a new stake in Ultragenyx Pharmaceutical in the third quarter worth $156,000. Legal & General Group Plc grew its holdings in Ultragenyx Pharmaceutical by 18.9% in the third quarter. Legal & General Group Plc now owns 17,925 shares of the biopharmaceutical company’s stock worth $957,000 after purchasing an additional 2,843 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Ultragenyx Pharmaceutical in the third quarter worth $372,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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About Ultragenyx Pharmaceutical

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.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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