Canaccord Genuity Group Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $121.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lifted by Canaccord Genuity Group from $109.00 to $121.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 136.93% from the stock’s current price.

RARE has been the subject of several other reports. Barclays lowered their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. HC Wainwright upped their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE traded down $1.11 during midday trading on Wednesday, hitting $51.07. The company’s stock had a trading volume of 756,175 shares, compared to its average volume of 777,281. The business’s fifty day simple moving average is $55.47 and its two-hundred day simple moving average is $48.09. Ultragenyx Pharmaceutical has a 1 year low of $34.06 and a 1 year high of $60.37. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of -6.98 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.23) EPS. Analysts anticipate that Ultragenyx Pharmaceutical will post -6.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,556 shares of company stock valued at $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock worth $23,677,000 after acquiring an additional 424,476 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Ultragenyx Pharmaceutical by 0.7% during the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after acquiring an additional 17,362 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Ultragenyx Pharmaceutical in the first quarter valued at about $1,074,000. Finally, Vanguard Group Inc. increased its holdings in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after buying an additional 26,575 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.