Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target increased by stock analysts at Raymond James from $53.00 to $57.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Raymond James’ target price indicates a potential upside of 6.32% from the stock’s previous close.
Several other research analysts have also recently commented on the stock. ValuEngine cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Wedbush decreased their target price on shares of Ultragenyx Pharmaceutical from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, October 29th. Citigroup decreased their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $46.00 and set a “sell” rating for the company in a report on Monday, October 29th. Morgan Stanley set a $70.00 target price on shares of Ultragenyx Pharmaceutical and gave the stock a “hold” rating in a report on Monday, October 29th. Finally, Credit Suisse Group reduced their price target on shares of Ultragenyx Pharmaceutical from $78.00 to $59.00 and set a “hold” rating for the company in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.95.
Shares of RARE opened at $53.61 on Tuesday. Ultragenyx Pharmaceutical has a one year low of $41.67 and a one year high of $90.98. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -7.15 and a beta of 2.34.
In other news, Director William Aliski sold 19,550 shares of the stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $72.49, for a total value of $1,417,179.50. Following the completion of the sale, the director now directly owns 72,610 shares of the company’s stock, valued at $5,263,498.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shalini Sharp sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $90.07, for a total transaction of $603,469.00. Following the transaction, the chief financial officer now directly owns 56,828 shares in the company, valued at approximately $5,118,497.96. The disclosure for this sale can be found here. Insiders sold 31,250 shares of company stock valued at $2,413,299 over the last three months. 8.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $181,000. Janney Montgomery Scott LLC bought a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $313,000. Xact Kapitalforvaltning AB raised its position in Ultragenyx Pharmaceutical by 49.7% during the first quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock valued at $338,000 after acquiring an additional 2,200 shares in the last quarter. JBF Capital Inc. bought a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $384,000. Finally, Strs Ohio raised its position in Ultragenyx Pharmaceutical by 358.3% during the second quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock valued at $422,000 after acquiring an additional 4,300 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
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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