Canaccord Genuity Group Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price lifted by Canaccord Genuity Group from $121.00 to $136.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. Piper Sandler upped their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wedbush reaffirmed a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. 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 research note on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Stock Up 2.7 %

Shares of NASDAQ:RARE opened at $43.62 on Tuesday. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -6.74 and a beta of 0.60. The company has a 50 day moving average of $43.46 and a two-hundred day moving average of $49.59.

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

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 8,273 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction 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 $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds have recently modified their holdings of RARE. Vanguard Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock valued at $422,167,000 after buying an additional 89,389 shares in the last quarter. Alkeon Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Ultragenyx Pharmaceutical by 1.5% in the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock valued at $71,509,000 after purchasing an additional 25,487 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after acquiring an additional 81,667 shares during the period. Finally, Baker BROS. Advisors LP lifted its stake in Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after buying an additional 109,567 shares during the period. Institutional investors own 97.67% of the company’s stock.

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.