Ultragenyx Pharmaceutical (NASDAQ:RARE) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Tuesday morning,Benzinga reports. They currently have a $95.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on RARE. JPMorgan Chase & Co. cut their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. TD Cowen raised their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $43.75 on Tuesday. The firm has a 50 day simple moving average of $49.28 and a 200 day simple moving average of $49.37. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The company has a market cap of $4.04 billion, a price-to-earnings ratio of -6.76 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly 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. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the business posted ($2.23) EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. As a group, analysts expect that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $83,000. Geode Capital Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after buying an additional 65,623 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 8.1% during the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock worth $388,000 after buying an additional 525 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its stake in Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after buying an additional 208,715 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.