Wedbush Reaffirms “Neutral” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Wedbush reissued their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $48.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on RARE. Cantor Fitzgerald restated an overweight rating and set a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Robert W. Baird boosted their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a report on Monday, March 18th. Finally, Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $91.55.

Ultragenyx Pharmaceutical Trading Down 1.7 %

NASDAQ RARE opened at $43.38 on Tuesday. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $54.98. The firm has a market cap of $3.57 billion, a PE ratio of -5.21 and a beta of 0.65. The stock has a 50-day moving average of $48.10 and a 200-day moving average of $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. During the same quarter in the previous year, the business earned ($2.16) EPS. Ultragenyx Pharmaceutical’s revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. Insiders have sold a total of 31,974 shares of company stock valued at $1,639,721 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Raymond James & Associates lifted its position in Ultragenyx Pharmaceutical by 46.0% in the 1st quarter. Raymond James & Associates now owns 13,882 shares of the biopharmaceutical company’s stock valued at $1,008,000 after acquiring an additional 4,373 shares in the last quarter. US Bancorp DE lifted its position in Ultragenyx Pharmaceutical by 14.6% in the 1st quarter. US Bancorp DE now owns 8,611 shares of the biopharmaceutical company’s stock valued at $625,000 after acquiring an additional 1,097 shares in the last quarter. Bank of Montreal Can lifted its position in Ultragenyx Pharmaceutical by 22.7% in the 1st quarter. Bank of Montreal Can now owns 40,319 shares of the biopharmaceutical company’s stock valued at $2,927,000 after acquiring an additional 7,469 shares in the last quarter. MetLife Investment Management LLC bought a new position in Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $252,000. Finally, Dimensional Fund Advisors LP lifted its position in Ultragenyx Pharmaceutical by 44.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 463,996 shares of the biopharmaceutical company’s stock valued at $33,693,000 after acquiring an additional 141,945 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.