TD Cowen Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $73.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective hoisted by TD Cowen from $61.00 to $73.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on RARE. Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Barclays dropped their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Wedbush lifted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.29.

Ultragenyx Pharmaceutical Stock Up 0.2 %

NASDAQ:RARE opened at $54.82 on Monday. Ultragenyx Pharmaceutical has a twelve month low of $31.62 and a twelve month high of $60.37. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -6.83 and a beta of 0.57. The stock’s 50 day moving average price is $56.03 and its two-hundred day moving average price is $47.76.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. During the same period in the previous year, the company earned ($2.25) earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, analysts anticipate that Ultragenyx Pharmaceutical will post -6.28 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 47,556 shares of company stock valued at $2,519,367. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 acquiring an additional 26,575 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st 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 purchasing an additional 120,175 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after buying an additional 17,362 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after buying an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares in 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.