Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by Canaccord Genuity Group from $109.00 to $121.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on the stock. HC Wainwright lifted their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. TD Cowen raised their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Stock Down 0.1 %

RARE traded down $0.07 during trading on Wednesday, reaching $50.36. 1,246,799 shares of the company’s stock were exchanged, compared to its average volume of 783,398. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37. The company has a market capitalization of $4.64 billion, a P/E ratio of -7.78 and a beta of 0.58. The business has a 50 day moving average price of $55.06 and a 200 day moving average price of $48.17.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 197.73%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.23) earnings per share. As a group, research analysts forecast that Ultragenyx Pharmaceutical will post -6.29 EPS for the current year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 in the last ninety days. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth about $1,323,000. Quest Partners LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $119,000. Swiss National Bank grew its stake in Ultragenyx Pharmaceutical by 9.1% in the third quarter. Swiss National Bank now owns 159,152 shares of the biopharmaceutical company’s stock valued at $8,841,000 after purchasing an additional 13,300 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $321,000. Finally, Natixis Advisors LLC raised its stake in shares of Ultragenyx Pharmaceutical by 290.0% during the 3rd quarter. Natixis Advisors LLC now owns 52,562 shares of the biopharmaceutical company’s stock worth $2,920,000 after purchasing an additional 39,086 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.