Ultragenyx Pharmaceutical (NASDAQ:RARE) Given a $80.00 Price Target by Canaccord Genuity Analysts

Ultragenyx Pharmaceutical (NASDAQ:RARE) has been assigned a $80.00 target price by Canaccord Genuity in a research note issued to investors on Tuesday, December 5th. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price points to a potential upside of 72.49% from the company’s previous close.

A number of other brokerages have also recently issued reports on RARE. HC Wainwright reissued a “neutral” rating and issued a $75.00 target price (up from $72.00) on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 8th. Evercore ISI began coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $63.00 target price for the company. Morgan Stanley reissued an “equal weight” rating and issued a $69.00 target price (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price (down from $95.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $83.00 price objective (down from $89.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Ultragenyx Pharmaceutical has an average rating of “Hold” and a consensus price target of $72.40.

Shares of Ultragenyx Pharmaceutical (RARE) traded down $0.59 during midday trading on Tuesday, hitting $46.38. The company had a trading volume of 289,040 shares, compared to its average volume of 484,722. The firm has a market cap of $1,980.00, a PE ratio of -6.65 and a beta of 1.83. Ultragenyx Pharmaceutical has a 1 year low of $43.14 and a 1 year high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.87). The firm had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.02 million. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period last year, the company earned ($1.64) earnings per share. research analysts predict that Ultragenyx Pharmaceutical will post -7.29 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of RARE. Capital International Investors raised its stake in shares of Ultragenyx Pharmaceutical by 21.9% during the 3rd quarter. Capital International Investors now owns 2,895,481 shares of the biopharmaceutical company’s stock worth $154,213,000 after buying an additional 520,496 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 10.4% during the 2nd quarter. BlackRock Inc. now owns 3,497,591 shares of the biopharmaceutical company’s stock worth $217,237,000 after buying an additional 330,911 shares in the last quarter. State Street Corp raised its stake in shares of Ultragenyx Pharmaceutical by 21.4% during the 2nd quarter. State Street Corp now owns 1,536,285 shares of the biopharmaceutical company’s stock worth $95,417,000 after buying an additional 270,729 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Ultragenyx Pharmaceutical by 933.2% during the 2nd quarter. Royal Bank of Canada now owns 224,261 shares of the biopharmaceutical company’s stock worth $13,929,000 after buying an additional 202,556 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Ultragenyx Pharmaceutical by 41.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 589,211 shares of the biopharmaceutical company’s stock worth $31,729,000 after buying an additional 173,433 shares in the last quarter. 94.10% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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