Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Up – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.85, but opened at $15.48. Ultragenyx Pharmaceutical shares last traded at $15.8020, with a volume of 1,993,318 shares traded.

Key Ultragenyx Pharmaceutical News

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: Some analysts still see substantial long-term value. Jefferies, Citi, TD Cowen, Cantor Fitzgerald and HC Wainwright retained buy or overweight ratings, while their revised targets remain above the current price. Why Wall Street Isn’t Giving Up Yet
• Positive Sentiment: Unusually heavy call-option activity suggests that some traders are positioning for a rebound following the selloff. The company’s existing commercial rare-disease portfolio also remains an important potential support for valuation. Ultragenyx Stock Sinks on Drug Trial Failure
• Neutral Sentiment: Analysts sharply cut their assumptions but generally left some upside potential: Baird and Evercore moved to neutral or in-line, Wells Fargo to equal weight, and Bank of America to neutral. Royal Bank of Canada subsequently downgraded Ultragenyx to hold. Baird Downgrade
• Negative Sentiment: Ultragenyx said its Phase 3 Aspire trial of apazunersen in Angelman syndrome failed to meet both the primary cognitive endpoint and a key secondary multidomain-response endpoint. The result undermines one of the company’s major growth opportunities and has raised uncertainty about the program’s future. Ultragenyx’s Rare Disease Drug Fails in Late-Stage Trial
• Negative Sentiment: The setback triggered widespread target cuts, including reductions from $80 to $36 at JPMorgan, $50 to $18 at Wells Fargo and $40 to $16 at Baird. Ultragenyx is also considering significant cost reductions, highlighting potential pressure on its research pipeline and operations. Ultragenyx to Weigh Significant Cost Cuts

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays reduced their price objective on Ultragenyx Pharmaceutical from $43.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday. Cantor Fitzgerald dropped their target price on shares of Ultragenyx Pharmaceutical from $103.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Robert W. Baird lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $40.00 to $16.00 in a report on Thursday. Royal Bank Of Canada cut shares of Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.95.

Ultragenyx Pharmaceutical Stock Performance

The stock’s fifty day moving average is $28.07 and its two-hundred day moving average is $25.04. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -2.67 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The firm’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.17) EPS. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its holdings in Ultragenyx Pharmaceutical by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 534 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Ultragenyx Pharmaceutical by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 549 shares during the last quarter. Tidal Investments LLC increased its position in shares of Ultragenyx Pharmaceutical by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 564 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 0.4% in the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock valued at $3,612,000 after purchasing an additional 577 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 43.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 751 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.