Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price lowered by Canaccord Genuity from $90.00 to $75.00 in a research report sent to investors on Wednesday, The Fly reports. Canaccord Genuity currently has a buy rating on the biopharmaceutical company’s stock.
RARE has been the topic of several other reports. Zacks Investment Research lowered Ultragenyx Pharmaceutical from a buy rating to a hold rating in a research report on Monday, October 8th. ValuEngine lowered Ultragenyx Pharmaceutical from a buy rating to a hold rating in a research report on Monday, October 29th. JPMorgan Chase & Co. set a $68.00 target price on Ultragenyx Pharmaceutical and gave the stock a buy rating in a research report on Saturday, October 27th. Wedbush increased their target price on Ultragenyx Pharmaceutical from $71.00 to $80.00 and gave the stock an outperform rating in a research report on Monday, August 6th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $92.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Ultragenyx Pharmaceutical has an average rating of Buy and an average price target of $75.95.
NASDAQ RARE traded down $2.45 during trading hours on Wednesday, hitting $52.24. The company had a trading volume of 420,730 shares, compared to its average volume of 703,085. Ultragenyx Pharmaceutical has a fifty-two week low of $41.67 and a fifty-two week high of $90.98. The firm has a market capitalization of $2.71 billion, a PE ratio of -6.97 and a beta of 2.34.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.94) by $0.20. Ultragenyx Pharmaceutical had a negative return on equity of 40.10% and a negative net margin of 508.70%. The firm had revenue of $11.80 million for the quarter, compared to analyst estimates of $11.97 million. During the same period last year, the company earned ($1.87) earnings per share. The firm’s revenue for the quarter was up 5800.0% on a year-over-year basis. On average, equities research analysts predict that Ultragenyx Pharmaceutical will post -3.99 earnings per share for the current year.
In other news, EVP Karah Herdman Parschauer sold 5,000 shares of the firm’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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Aliski sold 6,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $55.67, for a total value of $334,020.00. Following the transaction, the director now directly owns 72,610 shares in the company, valued at $4,042,198.70. The disclosure for this sale can be found here. Insiders have sold 37,250 shares of company stock worth $2,747,319 over the last three months. Corporate insiders own 8.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth about $181,000. Janney Montgomery Scott LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth about $313,000. Xact Kapitalforvaltning AB grew its holdings in Ultragenyx Pharmaceutical by 49.7% during the first quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock worth $338,000 after acquiring an additional 2,200 shares during the period. JBF Capital Inc. acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth about $384,000. Finally, Strs Ohio grew its holdings in Ultragenyx Pharmaceutical by 358.3% during the second quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock worth $422,000 after acquiring an additional 4,300 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
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.
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