Barclays Boosts Ultragenyx Pharmaceutical (RARE) Price Target to $62.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective upped by equities research analysts at Barclays from $60.00 to $62.00 in a report issued on Tuesday. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays’ target price would suggest a potential upside of 19.78% from the company’s previous close.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Canaccord Genuity restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, September 12th. Cowen restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 15th. Morgan Stanley restated an “equal weight” rating and issued a $71.00 price target (up from $69.00) on shares of Ultragenyx Pharmaceutical in a research note on Friday, October 6th. Finally, SunTrust Banks cut Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating and cut their price target for the company from $105.00 to $55.00 in a research note on Wednesday, August 23rd. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Ultragenyx Pharmaceutical currently has an average rating of “Hold” and an average price target of $72.40.

Ultragenyx Pharmaceutical (RARE) traded up $0.06 during trading hours on Tuesday, reaching $51.76. The company had a trading volume of 979,500 shares, compared to its average volume of 434,677. Ultragenyx Pharmaceutical has a 52-week low of $44.02 and a 52-week high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($1.87). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.02 million. The company’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.64) earnings per share. research analysts anticipate that Ultragenyx Pharmaceutical will post -7.26 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of RARE. Sei Investments Co. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $125,000. SG Americas Securities LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $156,000. Tocqueville Asset Management L.P. increased its position in shares of Ultragenyx Pharmaceutical by 8.0% during the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 250 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Ultragenyx Pharmaceutical by 12.0% during the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 365 shares in the last quarter. Finally, Kazazian Asset Management LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $213,000. Institutional investors and hedge funds own 94.13% of the company’s stock.

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Ultragenyx Pharmaceutical Company Profile

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.

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