Ultragenyx Pharmaceutical (RARE) PT Raised to $72.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by Bank of America from $61.00 to $72.00 in a research note issued on Tuesday. Bank of America’s price objective indicates a potential upside of 31.70% from the company’s current price.

RARE has been the subject of several other research reports. BidaskClub lowered shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Friday, February 9th. Zacks Investment Research lowered shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price target (up previously from $57.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 21st. Credit Suisse Group assumed coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, January 17th. They issued an “outperform” rating and a $67.00 price target for the company. Finally, Piper Jaffray reissued an “overweight” rating and issued a $67.00 price target on shares of Ultragenyx Pharmaceutical in a report on Thursday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.41.

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Shares of NASDAQ RARE traded up $0.85 during mid-day trading on Tuesday, hitting $54.67. 852,195 shares of the stock were exchanged, compared to its average volume of 553,407. The firm has a market cap of $2,635.06, a price-to-earnings ratio of -7.31 and a beta of 1.82. Ultragenyx Pharmaceutical has a twelve month low of $41.67 and a twelve month high of $71.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, February 20th. The biopharmaceutical company reported ($2.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.00) by ($0.27). The firm had revenue of $2.41 million for the quarter, compared to the consensus estimate of $0.75 million. During the same period last year, the firm posted ($1.75) earnings per share. research analysts expect that Ultragenyx Pharmaceutical will post -6.03 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $205,000. Pier Capital LLC bought a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $5,831,000. MetLife Investment Advisors LLC bought a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $849,000. Jane Street Group LLC boosted its stake in Ultragenyx Pharmaceutical by 26.1% in the fourth quarter. Jane Street Group LLC now owns 8,821 shares of the biopharmaceutical company’s stock valued at $409,000 after acquiring an additional 1,828 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Ultragenyx Pharmaceutical by 43.1% in the fourth quarter. Millennium Management LLC now owns 123,835 shares of the biopharmaceutical company’s stock valued at $5,743,000 after acquiring an additional 37,315 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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