Cowen and Company Reaffirms “Buy” Rating for Ultragenyx Pharmaceutical Inc. (RARE)

Cowen and Company reiterated their buy rating on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a report published on Wednesday morning.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Ultragenyx Pharmaceutical from a sell rating to a hold rating in a research note on Wednesday, November 8th. J P Morgan Chase & Co reiterated a buy rating and set a $76.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Sunday, November 5th. Robert W. Baird dropped their price target on Ultragenyx Pharmaceutical from $85.00 to $80.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Morgan Stanley reiterated an equal weight rating and set a $71.00 price target (up previously from $69.00) on shares of Ultragenyx Pharmaceutical in a research note on Friday, October 6th. Finally, Wedbush upgraded Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 price target on the stock in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Ultragenyx Pharmaceutical currently has a consensus rating of Hold and a consensus target price of $71.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down $0.11 during trading on Wednesday, reaching $48.11. The company’s stock had a trading volume of 549,088 shares, compared to its average volume of 434,245. Ultragenyx Pharmaceutical has a twelve month low of $44.02 and a twelve month high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($1.87). The firm had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.02 million. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.64) EPS. equities research analysts forecast that Ultragenyx Pharmaceutical will post -7.24 earnings per share for the current year.

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In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis purchased 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price of $52.52 per share, with a total value of $393,900.00. Following the acquisition, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in Ultragenyx Pharmaceutical by 5.8% in the 1st quarter. Prudential Financial Inc. now owns 3,660 shares of the biopharmaceutical company’s stock worth $248,000 after purchasing an additional 200 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Ultragenyx Pharmaceutical by 7.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,474 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 248 shares during the period. Tocqueville Asset Management L.P. raised its holdings in Ultragenyx Pharmaceutical by 8.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 250 shares during the period. Aperio Group LLC raised its holdings in Ultragenyx Pharmaceutical by 8.4% in the 2nd quarter. Aperio Group LLC now owns 3,851 shares of the biopharmaceutical company’s stock worth $239,000 after purchasing an additional 299 shares during the period. Finally, Amalgamated Bank raised its holdings in Ultragenyx Pharmaceutical by 7.6% in the 2nd quarter. Amalgamated Bank now owns 4,980 shares of the biopharmaceutical company’s stock worth $309,000 after purchasing an additional 352 shares during the period. 95.97% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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