Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) gapped up before the market opened on Thursday . The stock had previously closed at $51.21, but opened at $51.76. Ultragenyx Pharmaceutical shares last traded at $52.66, with a volume of 455,661 shares changing hands.

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed a “hold” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, June 8th. Canaccord Genuity reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, May 10th. Piper Jaffray Cos. assumed coverage on Ultragenyx Pharmaceutical in a report on Thursday. They set an “overweight” rating and a $70.00 price objective on the stock. JMP Securities reaffirmed a “buy” rating and set a $84.00 price objective (up from $80.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, June 8th. Finally, Leerink Swann reaffirmed a “buy” rating and set a $80.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, May 10th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Ultragenyx Pharmaceutical presently has an average rating of “Buy” and an average target price of $99.32.

The firm’s market capitalization is $2.08 billion. The company’s 50 day moving average is $60.21 and its 200 day moving average is $67.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Monday, May 9th. The biopharmaceutical company reported ($1.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by $0.06. During the same period in the prior year, the company earned ($0.63) EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post ($5.84) earnings per share for the current fiscal year.

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, April 15th. The shares were sold at an average price of $70.33, for a total value of $1,406,600.00. Following the transaction, the chief executive officer now directly owns 552,729 shares of the company’s stock, valued at $38,873,430.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sunil Agarwal sold 650 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $54.16, for a total transaction of $35,204.00. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in RARE. Trexquant Investment LP purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $1,010,000. Paradigm Asset Management Co. LLC boosted its position in shares of Ultragenyx Pharmaceutical by 39.0% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 9,450 shares of the biopharmaceutical company’s stock worth $1,060,000 after buying an additional 2,650 shares during the period. GSA Capital Partners LLP boosted its position in shares of Ultragenyx Pharmaceutical by 12.2% in the fourth quarter. GSA Capital Partners LLP now owns 11,188 shares of the biopharmaceutical company’s stock worth $1,255,000 after buying an additional 1,218 shares during the period. Russell Frank Co boosted its position in shares of Ultragenyx Pharmaceutical by 425.8% in the fourth quarter. Russell Frank Co now owns 13,523 shares of the biopharmaceutical company’s stock worth $1,529,000 after buying an additional 10,951 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Ultragenyx Pharmaceutical by 6.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,007 shares of the biopharmaceutical company’s stock worth $2,469,000 after buying an additional 1,390 shares during the period.

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. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment.

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