Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note released on Wednesday,Benzinga reports. The firm currently has a $77.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages have also weighed in on RARE. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wedbush boosted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Shares of NASDAQ RARE opened at $50.36 on Wednesday. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37. The company has a 50-day moving average of $55.06 and a two-hundred day moving average of $48.19. The company has a market cap of $4.65 billion, a PE ratio of -7.78 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted 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 firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.23) EPS. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current year.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the business’s 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 sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred 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 $4,869,800.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 over the last quarter. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. Allspring Global Investments Holdings LLC boosted its position in Ultragenyx Pharmaceutical by 67.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 1,339 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the 1st quarter worth approximately $227,000. GSA Capital Partners LLP acquired a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $493,000. Duality Advisers LP grew its stake in shares of Ultragenyx Pharmaceutical by 1.5% in the first quarter. Duality Advisers LP now owns 39,977 shares of the biopharmaceutical company’s stock valued at $1,867,000 after buying an additional 606 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Ultragenyx Pharmaceutical by 3.0% during the first quarter. Swiss National Bank now owns 145,852 shares of the biopharmaceutical company’s stock worth $6,810,000 after buying an additional 4,300 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

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.