Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $90.93 Consensus Target Price from Brokerages

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $90.93.

Several equities research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. HC Wainwright reissued a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Morgan Stanley lifted their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the transaction, the executive vice president now directly owns 54,991 shares of the company’s stock, valued at $2,358,014.08. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares in the company, valued at approximately $4,289,227.60. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,405 shares of company stock valued at $5,285,169 over the last three months. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RARE. Adage Capital Partners GP L.L.C. increased its position in Ultragenyx Pharmaceutical by 81.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock valued at $77,815,000 after purchasing an additional 965,919 shares during the period. Norges Bank bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $40,463,000. Vestal Point Capital LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after buying an additional 750,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock valued at $116,559,000 after buying an additional 706,519 shares in the last quarter. Finally, Deep Track Capital LP bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $27,493,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $35.61 on Wednesday. Ultragenyx Pharmaceutical has a 1 year low of $29.59 and a 1 year high of $60.37. The firm has a market cap of $3.37 billion, a PE ratio of -5.62 and a beta of 0.34. The company has a 50 day simple moving average of $36.39 and a two-hundred day simple moving average of $41.64.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) 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 the consensus estimate of $145.98 million. During the same quarter in the previous year, the firm earned ($2.03) earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

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.