Piper Jaffray Reiterates a Buy Rating on Ultragenyx

By Austin Angelo

In a report released today, Steven Breazzano from Piper Jaffray reiterated a Buy rating on Ultragenyx (NASDAQ: RARE), with a price target of $96. The company’s shares opened today at $85.

According to TipRanks.com, Breazzano is a 4-star analyst with an average return of 19.1% and a 91.7% success rate. Breazzano covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Mirati Therapeutics, and Bavarian Nordic A/S.

Ultragenyx has an analyst consensus of Strong Buy, with a price target consensus of $95.20.

Based on Ultragenyx’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $111K and GAAP net loss of $64.91 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $39.23 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Theodore Alan Huizenga, the Controller and PAO of RARE sold 2,000 shares for a total of $159,460.

Ultragenyx Pharmaceutical, Inc. is a clinical-stage biotechnology company that is focused on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare diseases, with an initial focus on serious, debilitating metabolic genetic diseases. It intends to build therapies to address these clinically underserved diseases. The company was founded by Emil D. Kakkis on April 22, 2010 and is headquartered in Novato, CA.