Pharmaceutical Ultragenyx (NASDAQ: RARE – Get a rating) was upgraded by research analysts Robert W. Baird from a “neutral” rating to an “outperforming” rating in a note to investors released Thursday, Fly reports. The company currently has a target price of $50.00 on shares of the biopharmaceutical company. Robert W. Baird’s target price would suggest a potential upside of 23.18% from the current stock price.
A number of other brokerages have also published reports on RARE. Evercore ISI reduced its target price on shares of Ultragenyx Pharmaceutical to $60.00 in a Tuesday, August 9 research report. Cowen lowered his target price on shares of Ultragenyx Pharmaceutical from $86.00 to $65.00 in a research report on Thursday. Citigroup cut its price target on shares of Ultragenyx Pharmaceutical from $146.00 to $142.00 in a Wednesday, August 3, report. Guggenheim moved shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and set a price target of $50.00 for the company in a Thursday, October 13 report. To finish, StockNews.com downgraded shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Thursday, October 20. One analyst rated the stock with a sell rating, two issued a hold rating and seven assigned the company a buy rating. Based on MarketBeat data, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $99.23.
Ultragenyx Pharmaceutical Stock Performance
Ultragenyx Pharmaceutical Action opened at $40.59 on Thursday. The company has a 50-day simple moving average of $42.85 and a 200-day simple moving average of $51.80. The company has a market capitalization of $2.84 billion, a P/E ratio of -5.55 and a beta of 1.20. Ultragenyx Pharmaceutical has a 1-year low of $36.67 and a 1-year high of $89.56.
In other news, CFO Tuesday sold 3,484 shares of the company in a trade dated Wednesday, October 12. The stock was sold at an average price of $38.22, for a total value of $133,158.48. Following the transaction, the CFO now owns 68,324 shares of the company, valued at approximately $2,611,343.28. The sale was disclosed in a filing with the Securities & Exchange Commission, available via the SEC website. 6.70% of the shares are held by company insiders.
Hedge funds weigh on Ultragenyx Pharmaceutical
Hedge funds have recently increased or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new position in Ultragenyx Pharmaceutical in the first quarter worth approximately $44,000. China Universal Asset Management Co.Ltd. acquired a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $27,000. Lazard Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 36.6% in the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company worth $64,000 after buying an additional 240 shares in the last quarter. High Net Worth Advisory Group LLC increased its stake in Ultragenyx Pharmaceutical by 650.0% in the third quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the biopharmaceutical company worth $62,000 after buying an additional 1,300 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Ultragenyx Pharmaceutical in the first quarter worth approximately $169,000. Institutional investors and hedge funds hold 88.27% of the company’s shares.
Ultragenyx Pharmaceutical Company Profile
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, is focused on the identification, acquisition, development and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Europe and internationally . Its biologics include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with mucopolysaccharidosis VII; Dojolvi for the treatment of long chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.
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