Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $65.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective raised by Morgan Stanley from $64.00 to $65.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the company. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Wedbush restated a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.93.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $35.16 on Friday. The business’s 50 day simple moving average is $36.77 and its 200-day simple moving average is $42.24. Ultragenyx Pharmaceutical has a 1 year low of $29.59 and a 1 year high of $60.37. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -5.55 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $139.29 million for the quarter, compared to analysts’ expectations of $145.98 million. During the same quarter in the previous year, the company posted ($2.03) EPS. The business’s quarterly revenue was up 28.0% on a year-over-year basis. On average, sell-side analysts expect that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Thomas Richard Kassberg sold 6,028 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $253,778.80. Following the transaction, the executive vice president now owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. This represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,405 shares of company stock valued at $5,285,169. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth $59,000. Deutsche Bank AG boosted its position in Ultragenyx Pharmaceutical by 0.5% during the first quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock valued at $61,611,000 after purchasing an additional 8,385 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Ultragenyx Pharmaceutical by 231.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,737 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 1,911 shares in the last quarter. Bayforest Capital Ltd boosted its position in Ultragenyx Pharmaceutical by 192.3% during the first quarter. Bayforest Capital Ltd now owns 9,190 shares of the biopharmaceutical company’s stock valued at $333,000 after purchasing an additional 6,046 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in Ultragenyx Pharmaceutical by 182.5% during the first quarter. XTX Topco Ltd now owns 31,780 shares of the biopharmaceutical company’s stock valued at $1,151,000 after purchasing an additional 20,532 shares in the last quarter. Institutional investors 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.