Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report issued on Wednesday, January 17th, Marketbeat reports. The firm set an “outperform” rating and a $67.00 price target on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 50.97% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Jefferies Group upgraded Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $72.00 in a report on Monday, December 4th. Canaccord Genuity set a $80.00 target price on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, November 16th. Cowen restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 15th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $76.00 price target on shares of Ultragenyx Pharmaceutical in a report on Sunday, November 5th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Ultragenyx Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $72.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE) opened at $44.38 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $41.67 and a 12 month high of $91.35. The stock has a market capitalization of $2,084.50, a price-to-earnings ratio of -6.37 and a beta of 1.89.

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its position in Ultragenyx Pharmaceutical by 83.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,570 shares of the biopharmaceutical company’s stock valued at $346,000 after buying an additional 2,538 shares during the last quarter. The Manufacturers Life Insurance Company increased 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 worth $1,917,000 after purchasing an additional 2,212 shares during the last quarter. Capital Guardian Trust Co. increased its position in shares of Ultragenyx Pharmaceutical by 1.7% during the 3rd quarter. Capital Guardian Trust Co. now owns 521,035 shares of the biopharmaceutical company’s stock worth $27,750,000 after purchasing an additional 8,605 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Ultragenyx Pharmaceutical by 85.0% during the 2nd quarter. Prudential Financial Inc. now owns 6,770 shares of the biopharmaceutical company’s stock worth $420,000 after purchasing an additional 3,110 shares during the last quarter. Finally, State Street Corp increased its position 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 purchasing an additional 270,729 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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About Ultragenyx Pharmaceutical

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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