Canaccord Genuity Group Forecasts Strong Price Appreciation for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price hoisted by Canaccord Genuity Group from $121.00 to $136.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, January 22nd. TD Cowen raised their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Trading Up 2.7 %

Ultragenyx Pharmaceutical stock opened at $43.62 on Tuesday. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The company has a market cap of $4.03 billion, a P/E ratio of -6.74 and a beta of 0.60. The company has a fifty day simple moving average of $43.46 and a 200 day simple moving average of $49.59.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. On average, equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.12 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the transaction, the chief executive officer now owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. raised its holdings in shares of Ultragenyx Pharmaceutical by 3.9% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 658,715 shares of the biopharmaceutical company’s stock valued at $27,712,000 after purchasing an additional 25,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ultragenyx Pharmaceutical by 13.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,376 shares of the biopharmaceutical company’s stock valued at $8,514,000 after buying an additional 24,620 shares during the last quarter. Woodline Partners LP lifted its position in shares of Ultragenyx Pharmaceutical by 0.7% during the 4th quarter. Woodline Partners LP now owns 269,556 shares of the biopharmaceutical company’s stock worth $11,340,000 after buying an additional 2,001 shares in the last quarter. Vestal Point Capital LP lifted its position 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 worth $63,105,000 after buying an additional 750,000 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $3,702,000. 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.