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.
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.
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.
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