Morgan Stanley Reiterates $70.00 Price Target for Ultragenyx Pharmaceutical (RARE)

Morgan Stanley set a $70.00 price target on Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Monday, The Fly reports. The firm currently has a hold rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Credit Suisse Group lowered their target price on Ultragenyx Pharmaceutical from $78.00 to $59.00 and set a hold rating for the company in a report on Monday. Wedbush increased their price objective on Ultragenyx Pharmaceutical from $71.00 to $80.00 and gave the company an outperform rating in a report on Monday, August 6th. JPMorgan Chase & Co. reiterated a buy rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, August 29th. Raymond James set a $70.00 price objective on Ultragenyx Pharmaceutical and gave the company a buy rating in a report on Friday, October 26th. Finally, SunTrust Banks decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $54.00 and set a buy rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. Ultragenyx Pharmaceutical presently has an average rating of Buy and an average target price of $77.00.

Ultragenyx Pharmaceutical stock opened at $48.45 on Monday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -6.46 and a beta of 1.95. Ultragenyx Pharmaceutical has a twelve month low of $41.67 and a twelve month high of $90.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.08) by $1.02. The company had revenue of $12.79 million during the quarter, compared to analyst estimates of $5.63 million. Ultragenyx Pharmaceutical had a negative return on equity of 44.09% and a negative net margin of 703.27%. During the same quarter in the prior year, the business earned ($1.72) earnings per share. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -4.36 EPS for the current year.

In related news, Director William Aliski sold 19,550 shares of the firm’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $72.49, for a total value of $1,417,179.50. Following the completion of the transaction, the director now owns 72,610 shares in the company, valued at approximately $5,263,498.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shalini Sharp sold 6,700 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $90.07, for a total value of $603,469.00. Following the completion of the transaction, the chief financial officer now owns 56,828 shares of the company’s stock, valued at approximately $5,118,497.96. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $2,700,774 in the last 90 days. 8.40% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth $181,000. Xact Kapitalforvaltning AB raised its stake in Ultragenyx Pharmaceutical by 49.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock worth $338,000 after acquiring an additional 2,200 shares during the last quarter. JBF Capital Inc. purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth $384,000. Strs Ohio raised its stake in Ultragenyx Pharmaceutical by 358.3% in the 2nd quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock worth $422,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Pier 88 Investment Partners LLC purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth $446,000. Institutional investors own 96.12% of the company’s stock.

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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The Fly

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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