HC Wainwright Reaffirms Buy Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $95.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 123.58% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wedbush restated a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Piper Sandler upped their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 22nd. Canaccord Genuity Group restated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.43.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $42.49 on Friday. The company has a fifty day moving average of $43.60 and a two-hundred day moving average of $49.57. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -6.57 and a beta of 0.60. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

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

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in shares of Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 294 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 0.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after buying an additional 360 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 493 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Ultragenyx Pharmaceutical by 24.5% in the 3rd quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 506 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.