Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $88.46 Consensus Target Price from Brokerages

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $88.46.

Several analysts recently weighed in on the company. 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. TD Cowen upped their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s 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 transaction, the chief executive officer now owns 2,195,712 shares in the company, valued at $109,785,600. This trade represents a 0.38 % 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 hyperlink. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position 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. Nordea Investment Management AB increased its position in shares of Ultragenyx Pharmaceutical by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company’s stock valued at $1,658,000 after acquiring an additional 3,246 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after acquiring an additional 76,150 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical in the third quarter worth $83,000. Finally, Geode Capital Management LLC increased its position in Ultragenyx Pharmaceutical by 4.4% in the third 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. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $42.07 on Thursday. The stock has a fifty day moving average price of $46.09 and a 200-day moving average price of $49.50. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -6.50 and a beta of 0.58. 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 announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same period in the prior year, the company earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% on a year-over-year basis. Research analysts predict that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal 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.