Ultragenyx Pharmaceutical (RARE) Received its Third Buy in a Row

After Cowen & Co. and J.P. Morgan gave Ultragenyx Pharmaceutical (NASDAQ: RARE) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Jeffrey Hung maintained a Buy rating on Ultragenyx Pharmaceutical today and set a price target of $77.00. The company’s shares closed last Monday at $59.83.

According to TipRanks.com, Hung is a 5-star analyst with an average return of 27.7% and a 70.3% success rate. Hung covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics, Prevail Therapeutics, and Acceleron Pharma.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ultragenyx Pharmaceutical with a $70.00 average price target, representing a 13.4% upside. In a report issued on January 9, Cowen & Co. also maintained a Buy rating on the stock with a $59.00 price target.

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Based on Ultragenyx Pharmaceutical’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $113 million. In comparison, last year the company had a GAAP net loss of $87.83 million.

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Ultragenyx Pharmaceutical, Inc. is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita.