Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) rose 6.4% during mid-day trading on Tuesday . The stock traded as high as $57.07 and last traded at $56.29, with a volume of 663,759 shares traded. The stock had previously closed at $52.88.

RARE has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Monday, April 4th. Leerink Swann restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Thursday, June 16th. Jefferies Group restated a “buy” rating and issued a $109.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, May 10th. Wedbush restated an “outperform” rating and issued a $92.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, June 28th. Finally, Piper Jaffray Cos. started coverage on shares of Ultragenyx Pharmaceutical in a research note on Thursday, July 7th. They issued an “overweight” rating and a $70.00 target price for the company. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $99.32.

The firm has a 50 day moving average price of $59.57 and a 200-day moving average price of $65.83. The stock’s market cap is $2.12 billion.

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

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $59.95, for a total value of $1,199,000.00. Following the completion of the sale, the chief executive officer now directly owns 526,704 shares of the company’s stock, valued at approximately $31,575,904.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sunil Agarwal sold 649 shares of the company’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $70.53, for a total value of $45,773.97. Following the completion of the sale, the insider now directly owns 9,216 shares of the company’s stock, valued at $650,004.48. The disclosure for this sale can be found here.

Several hedge funds recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth approximately $1,010,000. Paradigm Asset Management Co. LLC boosted its stake 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 stake 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 stake 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 stake 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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