Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) dropped 5.2% during trading on Tuesday . The stock traded as low as $50.77 and last traded at $50.77, with a volume of 408,600 shares trading hands. The stock had previously closed at $53.53.

RARE has been the subject of several research reports. 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. Jefferies Group reaffirmed a “buy” rating and set a $109.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, June 8th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $101.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 25th. Canaccord Genuity reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, May 10th. 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 equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Ultragenyx Pharmaceutical currently has an average rating of “Buy” and an average target price of $98.09.

The stock’s 50 day moving average price is $57.57 and its 200-day moving average price is $64.01. The stock’s market capitalization is $1.97 billion.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by $0.06. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.63) earnings per share. On average, analysts forecast that Ultragenyx Pharmaceutical Inc. will post ($5.84) EPS for the current year.

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $59.95, for a total transaction of $1,199,000.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Sunil Agarwal sold 649 shares of the stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $70.53, for a total value of $45,773.97. Following the transaction, 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.

Other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 33,497 shares of the biopharmaceutical company’s stock worth $3,758,000 after buying an additional 497 shares during the last quarter. Swiss National Bank increased its stake in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Swiss National Bank now owns 35,367 shares of the biopharmaceutical company’s stock worth $3,967,000 after buying an additional 500 shares during the period. GSA Capital Partners LLP increased 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. State Board of Administration of Florida Retirement System increased 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. Finally, Rhumbline Advisers increased its stake in shares of Ultragenyx Pharmaceutical by 9.1% in the fourth quarter. Rhumbline Advisers now owns 39,116 shares of the biopharmaceutical company’s stock worth $4,388,000 after buying an additional 3,266 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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