HC Wainwright Reaffirms Buy Rating for Ultragenyx Pharmaceutical Inc (RARE)

HC Wainwright restated their buy rating on shares of Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) in a research report released on Thursday morning.

RARE has been the subject of several other research reports. Cowen and Company reaffirmed a buy rating on shares of Ultragenyx Pharmaceutical in a report on Friday, February 17th. Wedbush reaffirmed an outperform rating and issued a $92.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 30th. Piper Jaffray Companies reaffirmed a buy rating and issued a $96.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 30th. Jefferies Group LLC reaffirmed a buy rating and issued a $109.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, February 17th. Finally, Zacks Investment Research downgraded shares of Ultragenyx Pharmaceutical from a hold rating to a sell rating in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $87.62.

Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at 69.98 on Thursday. The stock’s market cap is $2.92 billion. Ultragenyx Pharmaceutical has a 12-month low of $46.52 and a 12-month high of $91.35. The stock has a 50 day moving average price of $80.02 and a 200 day moving average price of $73.61.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, February 16th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.72) by $0.03. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.05 million. The business’s revenue for the quarter was up 4900.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.42) earnings per share. On average, analysts forecast that Ultragenyx Pharmaceutical will post ($7.11) earnings per share for the current fiscal year.

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In other news, insider Theodore Alan Huizenga sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $86.34, for a total transaction of $215,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shalini Sharp sold 12,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $90.10, for a total transaction of $1,081,200.00. Following the transaction, the chief financial officer now owns 67,887 shares in the company, valued at $6,116,618.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock worth $2,258,730. Insiders own 10.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its position in Ultragenyx Pharmaceutical by 1.1% in the third quarter. Capital Research Global Investors now owns 4,830,859 shares of the biopharmaceutical company’s stock worth $342,701,000 after buying an additional 52,690 shares in the last quarter. BlackRock Fund Advisors increased its position in Ultragenyx Pharmaceutical by 5.8% in the third quarter. BlackRock Fund Advisors now owns 1,471,171 shares of the biopharmaceutical company’s stock worth $104,365,000 after buying an additional 80,186 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Ultragenyx Pharmaceutical by 3.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 907,553 shares of the biopharmaceutical company’s stock worth $64,382,000 after buying an additional 28,552 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Ultragenyx Pharmaceutical by 6.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 678,500 shares of the biopharmaceutical company’s stock worth $48,133,000 after buying an additional 40,000 shares in the last quarter. Finally, Capital Guardian Trust Co. increased its position in Ultragenyx Pharmaceutical by 15.7% in the fourth quarter. Capital Guardian Trust Co. now owns 570,321 shares of the biopharmaceutical company’s stock worth $40,099,000 after buying an additional 77,421 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.

5 Day Chart for NASDAQ:RARE

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