Ultragenyx Pharmaceutical’s (RARE) “Buy” Rating Reiterated at Wedbush

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Wedbush reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $75.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on RARE. Barclays reissued a buy rating and issued a $87.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Sunday, August 4th. Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $79.00 and set an overweight rating for the company in a research note on Friday, August 2nd. Cowen reissued a buy rating on shares of Ultragenyx Pharmaceutical in a research note on Thursday. ValuEngine raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating and set a $73.00 price objective for the company in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Ultragenyx Pharmaceutical currently has a consensus rating of Buy and a consensus target price of $75.93.

Shares of NASDAQ RARE opened at $58.65 on Thursday. The firm has a fifty day moving average price of $60.22 and a 200-day moving average price of $62.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.32 and a quick ratio of 9.14. The stock has a market cap of $3.28 billion, a PE ratio of -7.94 and a beta of 2.16. Ultragenyx Pharmaceutical has a 1 year low of $37.44 and a 1 year high of $90.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.73) by $0.01. The firm had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $22.16 million. Ultragenyx Pharmaceutical had a negative net margin of 527.49% and a negative return on equity of 49.84%. The company’s revenue for the quarter was up 88.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.06) earnings per share. On average, research analysts expect that Ultragenyx Pharmaceutical will post -7.04 EPS for the current year.

In related news, EVP Karah Herdman Parschauer sold 1,226 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $61.50, for a total transaction of $75,399.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth $25,000. Cutler Group LP bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth $31,000. Meeder Asset Management Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 321.1% during the first quarter. Meeder Asset Management Inc. now owns 598 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 456 shares during the last quarter. First Mercantile Trust Co. lifted its position in Ultragenyx Pharmaceutical by 101.0% during the first quarter. First Mercantile Trust Co. now owns 985 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 495 shares during the last quarter. Finally, Smith Asset Management Group LP lifted its position in Ultragenyx Pharmaceutical by 22.6% during the second quarter. Smith Asset Management Group LP now owns 1,680 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

About Ultragenyx Pharmaceutical

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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Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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