Ultragenyx Pharmaceutical (NASDAQ:RARE) PT Raised to $99.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective boosted by analysts at Barclays from $87.00 to $99.00 in a report released on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective indicates a potential upside of 26.66% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Robert W. Baird boosted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler boosted their price target on shares of Ultragenyx Pharmaceutical from $70.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. restated a “buy” rating and issued a $84.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 28th. Canaccord Genuity boosted their price target on shares of Ultragenyx Pharmaceutical from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Citigroup boosted their price target on shares of Ultragenyx Pharmaceutical from $53.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Ultragenyx Pharmaceutical has a consensus rating of “Buy” and a consensus price target of $81.07.

RARE traded up $0.56 during trading on Friday, reaching $78.16. 557,188 shares of the company’s stock were exchanged, compared to its average volume of 371,439. Ultragenyx Pharmaceutical has a one year low of $31.99 and a one year high of $91.77. The company has a current ratio of 4.54, a quick ratio of 4.49 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $79.63 and a two-hundred day moving average price of $63.43.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results 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 56.80% and a negative net margin of 188.51%. The business had revenue of $36.31 million for the quarter, compared to the consensus estimate of $36.74 million. During the same period in the previous year, the firm earned ($1.82) earnings per share. The company’s revenue was up 99.8% compared to the same quarter last year. As a group, research analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

In other Ultragenyx Pharmaceutical news, CFO Shalini Sharp sold 7,128 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $73.32, for a total transaction of $522,624.96. Following the transaction, the chief financial officer now owns 122,929 shares in the company, valued at $9,013,154.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Theodore Alan Huizenga sold 2,638 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $91.00, for a total transaction of $240,058.00. Following the transaction, the senior vice president now owns 16,582 shares in the company, valued at approximately $1,508,962. The disclosure for this sale can be found here. Insiders have sold a total of 81,110 shares of company stock worth $6,667,359 in the last quarter. 8.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. Federated Hermes Inc. raised its holdings in Ultragenyx Pharmaceutical by 35.2% during the first quarter. Federated Hermes Inc. now owns 4,016,760 shares of the biopharmaceutical company’s stock worth $178,465,000 after buying an additional 1,044,752 shares during the last quarter. Norges Bank acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $21,892,000. Bank of New York Mellon Corp raised its holdings in Ultragenyx Pharmaceutical by 205.2% during the first quarter. Bank of New York Mellon Corp now owns 704,416 shares of the biopharmaceutical company’s stock worth $31,297,000 after buying an additional 473,598 shares during the last quarter. First Trust Advisors LP raised its holdings in Ultragenyx Pharmaceutical by 23.8% during the second quarter. First Trust Advisors LP now owns 1,171,709 shares of the biopharmaceutical company’s stock worth $91,651,000 after buying an additional 225,205 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Ultragenyx Pharmaceutical by 154.8% during the fourth quarter. Franklin Resources Inc. now owns 370,650 shares of the biopharmaceutical company’s stock worth $15,830,000 after buying an additional 225,200 shares during the last quarter. Hedge funds and other institutional investors own 99.90% of the company’s stock.

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.

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Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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