Ultragenyx Pharmaceutical Inc. (RARE) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Ultragenyx Pharmaceutical Inc. is involved in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases, with an initial focus on serious, debilitating metabolic genetic diseases. The Company’s product pipeline include KRN23 (UX023) for the treatment of XLH, rhGUS (UX003) for the treatment of MPS 7, rhPPCA (UX004) for the treatment of galactosialidosis, Triheptanoin (UX007) for the treatment of LC-FAOD, Triheptanoin (UX007) for the treatment of Glut1 DS and SA-ER (UX001) for the treatment of HIBM which are in different clinical phases. Ultragenyx Pharmaceutical Inc. is headquartered in Novato, California. “

Several other research analysts also recently weighed in on the stock. Barclays PLC started coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, September 6th. They issued an equal weight rating and a $60.00 target price for the company. Wedbush raised shares of Ultragenyx Pharmaceutical from a neutral rating to an outperform rating and set a $62.00 target price for the company in a report on Thursday, September 14th. Stifel Nicolaus reaffirmed a buy rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, June 30th. Canaccord Genuity reaffirmed a buy rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 12th. Finally, Cowen and Company reaffirmed an outperform rating on shares of Ultragenyx Pharmaceutical in a report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $71.94.

Shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) traded down 3.69% during midday trading on Wednesday, hitting $45.90. The company had a trading volume of 631,764 shares. The stock has a 50 day moving average price of $52.86 and a 200 day moving average price of $58.87. Ultragenyx Pharmaceutical has a 1-year low of $45.04 and a 1-year high of $91.35. The firm’s market capitalization is $1.95 billion.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.73) by $0.01. During the same quarter in the prior year, the company posted ($1.46) EPS. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post ($7.14) EPS for the current fiscal year.

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In related news, CEO Emil D. Kakkis acquired 7,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was acquired at an average price of $52.52 per share, with a total value of $393,900.00. Following the acquisition, the chief executive officer now directly owns 430,569 shares of the company’s stock, valued at $22,613,483.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 9.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Ltd. boosted its holdings in shares of Ultragenyx Pharmaceutical by 27.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 750,407 shares of the biopharmaceutical company’s stock valued at $39,967,000 after purchasing an additional 161,196 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ultragenyx Pharmaceutical by 2.8% during the 3rd quarter. First Trust Advisors LP now owns 525,878 shares of the biopharmaceutical company’s stock valued at $28,008,000 after buying an additional 14,138 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at about $213,000. Ameritas Investment Partners Inc. raised its position in shares of Ultragenyx Pharmaceutical by 7.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,474 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 248 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Ultragenyx Pharmaceutical by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,864 shares of the biopharmaceutical company’s stock valued at $1,917,000 after buying an additional 2,212 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

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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