Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) dropped 5.5% during trading on Tuesday . The stock traded as low as $68.00 and last traded at $68.32. Approximately 613,533 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 629,627 shares. The stock had previously closed at $72.26.
RARE has been the subject of several research analyst reports. Zacks Investment Research raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, December 18th. Raymond James downgraded Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 2nd. Credit Suisse Group set a $59.00 target price on Ultragenyx Pharmaceutical and gave the stock a “hold” rating in a research note on Friday, January 4th. Cowen reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 7th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $76.84.
The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -9.24 and a beta of 2.22.
In other news, CFO Shalini Sharp sold 14,800 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $70.00, for a total transaction of $1,036,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Meeder Asset Management Inc. raised its position in Ultragenyx Pharmaceutical by 321.1% in the 1st quarter. Meeder Asset Management Inc. now owns 598 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. Exane Derivatives acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at about $36,000. Bank of Montreal Can raised its position in shares of Ultragenyx Pharmaceutical by 100.9% during the 4th quarter. Bank of Montreal Can now owns 1,079 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $55,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 16.6% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,924 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 274 shares in the last quarter. Institutional investors and hedge funds own 98.62% of the company’s stock.
Ultragenyx Pharmaceutical Company Profile (NASDAQ:RARE)
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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