Ultragenyx Pharmaceutical (NASDAQ:RARE) PT Lowered to $109.00 at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target trimmed by Canaccord Genuity Group from $111.00 to $109.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They issued an outperform rating and a $77.00 target price for the company. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a neutral rating on the stock in a report on Friday, May 3rd. TD Cowen upped their target price on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a research note on Monday, March 18th. 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, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of Moderate Buy and a consensus price target of $87.85.

Ultragenyx Pharmaceutical Trading Down 1.0 %

Shares of Ultragenyx Pharmaceutical stock opened at $41.56 on Monday. 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 $3.46 billion, a P/E ratio of -5.18 and a beta of 0.68. The company’s fifty day simple moving average is $46.65 and its two-hundred day simple moving average is $44.33.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The company had revenue of $108.83 million for the quarter, compared to analysts’ expectations of $116.03 million. During the same quarter in the prior year, the firm earned ($2.33) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Ultragenyx Pharmaceutical will post -6.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the transaction, the director now directly owns 14,860 shares of the company’s stock, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the completion of the transaction, the director now owns 14,860 shares in the company, valued at $756,076.80. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 in the last three months. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 596 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the 1st quarter valued at $28,000. UMB Bank n.a. increased its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Ultragenyx Pharmaceutical by 97.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 903 shares in the last quarter. 97.67% of the stock is currently 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.