Ultragenyx Pharmaceutical (NASDAQ:RARE) PT Lowered to $47.00

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Free Report) had its price objective reduced by research analysts at Wedbush from $48.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential upside of 9.94% from the stock’s previous close.

Several other research firms have also recently weighed in on RARE. Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. TD Cowen lifted their price target on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They set an “outperform” rating and a $77.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Read Our Latest Report on RARE

Ultragenyx Pharmaceutical Stock Down 1.0 %

Shares of NASDAQ RARE opened at $42.75 on Friday. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -5.32 and a beta of 0.68. The business has a fifty day simple moving average of $47.25 and a 200-day simple moving average of $44.14.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The firm had revenue of $108.83 million for the quarter, compared to analysts’ expectations of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.33) earnings per share. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -6.38 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the transaction, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the completion of the sale, the director now owns 14,860 shares in the company, valued at $756,076.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RARE. UMB Bank n.a. lifted its holdings in Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 329 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Ultragenyx Pharmaceutical by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 20,163 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 441 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Ultragenyx Pharmaceutical by 38.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 548 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Receive News & Ratings for Ultragenyx Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.