Brokerages Set Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) PT at $91.71

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $92.79.

Several research firms recently issued reports on RARE. Wedbush reissued a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler decreased their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. HC Wainwright reiterated a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday.

Insiders Place Their Bets

In other news, CAO Theodore Alan Huizenga sold 967 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now directly owns 50,265 shares in the company, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the transaction, the chief executive officer now directly owns 641,731 shares of the company’s stock, valued at approximately $27,016,875.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,370 shares of company stock worth $5,751,499. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Ultragenyx Pharmaceutical by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 78,051 shares of the biopharmaceutical company’s stock worth $3,284,000 after purchasing an additional 268 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 valued at $928,000 after acquiring an additional 294 shares during the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 0.3% in the third quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock valued at $8,005,000 after acquiring an additional 360 shares in the last quarter. Finally, BOKF NA boosted its stake in shares of Ultragenyx Pharmaceutical by 5.0% in the fourth quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company’s stock worth $336,000 after acquiring an additional 382 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $38.89 on Tuesday. Ultragenyx Pharmaceutical has a fifty-two week low of $36.71 and a fifty-two week high of $60.37. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -6.13 and a beta of 0.67. The stock’s 50-day simple moving average is $41.68 and its 200-day simple moving average is $47.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results 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 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

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.