Ultragenyx Pharmaceutical (NASDAQ:RARE) Upgraded at UBS Group

UBS Group upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) to a hold rating in a research report report published on Wednesday morning,Zacks reports.

Several other research firms have also weighed in on RARE. William Blair upgraded shares of Ultragenyx Pharmaceutical to a “hold” rating in a report on Wednesday, September 23rd. Royal Bank Of Canada cut shares of Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.65.

Ultragenyx Pharmaceutical Trading Down 4.2%

Shares of NASDAQ:RARE traded down $0.63 during mid-day trading on Wednesday, reaching $14.54. The stock had a trading volume of 2,924,016 shares, compared to its average volume of 4,951,327. The firm has a market cap of $1.43 billion, a PE ratio of -2.49 and a beta of 0.35. The firm has a 50 day simple moving average of $18.82 and a two-hundred day simple moving average of $23.56. Ultragenyx Pharmaceutical has a twelve month low of $12.73 and a twelve month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same quarter in the prior year, the firm posted ($1.17) EPS. The firm’s revenue for the quarter was up 28.5% compared to the same quarter last year. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of RARE. BlackRock Inc. acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $355,746,000. Assenagon Asset Management S.A. lifted its stake in Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $38,347,000. Candriam S.C.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 37.1% in the first quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company’s stock valued at $22,965,000 after buying an additional 296,798 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $31,040,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.