Ultragenyx Pharmaceutical’s (RARE) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $48.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $46.00.

A number of other research analysts have also issued reports on RARE. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $43.16 on Monday. Ultragenyx Pharmaceutical has a one year low of $37.02 and a one year high of $60.37. The firm’s fifty day moving average is $46.09 and its 200 day moving average is $49.63. The firm has a market cap of $3.99 billion, a PE ratio of -6.67 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period last year, the firm earned ($2.23) EPS. Research analysts predict that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently modified their holdings of RARE. Alkeon Capital Management LLC raised its holdings in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the period. Millennium Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after acquiring an additional 942,529 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock worth $87,553,000 after acquiring an additional 109,567 shares during the last quarter. Geode Capital Management LLC boosted its position 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 purchasing an additional 65,623 shares during the period. Finally, Marshall Wace LLP increased its holdings in Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after purchasing an additional 164,110 shares during the last quarter. 97.67% of the stock is currently 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.