SunTrust Banks Raises Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $88.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target hoisted by SunTrust Banks from $82.00 to $88.00 in a report published on Wednesday, The Fly reports. SunTrust Banks also issued estimates for Ultragenyx Pharmaceutical’s FY2021 earnings at ($5.25) EPS.

Other research analysts also recently issued reports about the stock. Wedbush boosted their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $91.00 and gave the company an outperform rating in a research report on Wednesday. BidaskClub raised shares of Ultragenyx Pharmaceutical from a sell rating to a hold rating in a research report on Friday, June 19th. Credit Suisse Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $60.00 to $64.00 and gave the company a neutral rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Ultragenyx Pharmaceutical from $76.00 to $84.00 and gave the company an overweight rating in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research report on Thursday, April 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $80.00.

NASDAQ:RARE opened at $86.04 on Wednesday. The company has a fifty day moving average of $72.53 and a 200 day moving average of $57.90. Ultragenyx Pharmaceutical has a 52 week low of $31.99 and a 52 week high of $86.11. The company has a current ratio of 4.54, a quick ratio of 4.49 and a debt-to-equity ratio of 0.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.91) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.23). Ultragenyx Pharmaceutical had a negative net margin of 348.78% and a negative return on equity of 60.65%. The firm had revenue of $36.31 million for the quarter, compared to the consensus estimate of $36.74 million. During the same quarter in the prior year, the company earned ($1.82) earnings per share. The company’s quarterly revenue was up 99.8% compared to the same quarter last year. On average, sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.46 EPS for the current year.

In related news, Director Matthew K. Fust sold 1,875 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $65.00, for a total transaction of $121,875.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Theodore Alan Huizenga sold 2,461 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $71.00, for a total transaction of $174,731.00. Following the sale, the senior vice president now directly owns 18,719 shares in the company, valued at $1,329,049. The disclosure for this sale can be found here. Insiders have sold a total of 26,555 shares of company stock worth $1,942,395 over the last three months. 8.20% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors grew its position in Ultragenyx Pharmaceutical by 3.3% during the 1st quarter. Capital Research Global Investors now owns 6,573,960 shares of the biopharmaceutical company’s stock valued at $292,081,000 after purchasing an additional 211,265 shares during the last quarter. Capital International Investors lifted its stake in Ultragenyx Pharmaceutical by 1.5% during the 1st quarter. Capital International Investors now owns 6,132,194 shares of the biopharmaceutical company’s stock valued at $272,453,000 after acquiring an additional 89,619 shares during the period. Federated Hermes Inc. lifted its stake in Ultragenyx Pharmaceutical by 35.2% during the 1st quarter. Federated Hermes Inc. now owns 4,016,760 shares of the biopharmaceutical company’s stock valued at $178,465,000 after acquiring an additional 1,044,752 shares during the period. Capital World Investors lifted its stake in Ultragenyx Pharmaceutical by 36.5% during the 4th quarter. Capital World Investors now owns 3,237,295 shares of the biopharmaceutical company’s stock valued at $138,265,000 after acquiring an additional 865,865 shares during the period. Finally, State Street Corp lifted its stake in Ultragenyx Pharmaceutical by 1.4% during the 1st quarter. State Street Corp now owns 2,229,351 shares of the biopharmaceutical company’s stock valued at $99,050,000 after acquiring an additional 30,604 shares during the period. 99.91% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.

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