J P Morgan Chase & Co reissued their buy rating on shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in a research note published on Sunday, November 5th. J P Morgan Chase & Co currently has a $76.00 price objective on the biopharmaceutical company’s stock.
“RARE’s 3Q report this afternoon was relatively uneventful aside from a few small updates: 1) RARE now has biopsy data from 6 adult patients that are included in the FDA review of burosumab (KRN23); 2) 48 week Phase 3 data for burosumab in adults will be available by YE17; and 3) the DMTX acquisition could close as early as Nov 7 th . Additionally, the company plans on hosting an analyst day in NY on December 4 th during which they plan on sharing some additional details regarding their earlier stage pipeline.”,” the firm’s analyst wrote.
A number of other research firms have also recently weighed in on RARE. Zacks Investment Research cut Ultragenyx Pharmaceutical from a hold rating to a sell rating in a research report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a hold rating and set a $68.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, July 14th. BidaskClub raised Ultragenyx Pharmaceutical from a hold rating to a buy rating in a research report on Tuesday, July 25th. Sanford C. Bernstein started coverage on Ultragenyx Pharmaceutical in a research report on Thursday, July 27th. They set a market perform rating and a $72.00 target price on the stock. Finally, Canaccord Genuity set a $98.00 price objective on Ultragenyx Pharmaceutical and gave the company a buy rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $71.31.
Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at $48.67 on Friday. Ultragenyx Pharmaceutical has a 52-week low of $44.45 and a 52-week high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.87). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same period in the prior year, the firm earned ($1.64) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 81.8% compared to the same quarter last year. analysts forecast that Ultragenyx Pharmaceutical will post -7.24 EPS for the current year.
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In related news, CEO Emil D. Kakkis purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the acquisition, the chief executive officer now owns 430,569 shares in the company, valued at $22,613,483.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Capital Research Global Investors grew its stake in shares of Ultragenyx Pharmaceutical by 1.4% during the second quarter. Capital Research Global Investors now owns 5,183,330 shares of the biopharmaceutical company’s stock valued at $321,937,000 after acquiring an additional 71,811 shares in the last quarter. BlackRock Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 10.4% during the second quarter. BlackRock Inc. now owns 3,497,591 shares of the biopharmaceutical company’s stock valued at $217,237,000 after acquiring an additional 330,911 shares in the last quarter. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 4.5% in the second quarter. Vanguard Group Inc. now owns 3,130,273 shares of the biopharmaceutical company’s stock worth $194,421,000 after purchasing an additional 135,335 shares in the last quarter. Capital International Investors grew its stake in Ultragenyx Pharmaceutical by 9.1% in the second quarter. Capital International Investors now owns 2,374,985 shares of the biopharmaceutical company’s stock worth $147,510,000 after purchasing an additional 198,252 shares in the last quarter. Finally, State Street Corp grew its stake in Ultragenyx Pharmaceutical by 21.4% in the second quarter. State Street Corp now owns 1,536,285 shares of the biopharmaceutical company’s stock worth $95,417,000 after purchasing an additional 270,729 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.
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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