Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 11.5% – Should You Buy?

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) rose 11.5% during mid-day trading on Thursday . The stock traded as high as $14.24 and last traded at $14.3560. 4,669,826 shares changed hands during trading, an increase of 83% from the average session volume of 2,545,771 shares. The stock had previously closed at $12.88.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RARE shares. Royal Bank Of Canada downgraded Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Robert W. Baird cut Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $16.00 in a research note on Thursday, September 3rd. Jefferies Financial Group lowered their price target on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Barclays dropped their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, September 4th. Finally, William Blair lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Ultragenyx Pharmaceutical Stock Performance

The stock has a fifty day simple moving average of $24.67 and a 200 day simple moving average of $24.55. The firm has a market cap of $1.41 billion, a P/E ratio of -2.45 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period last year, the firm posted ($1.17) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.98 earnings per share for the current year.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares during the last quarter. Leonteq Securities AG boosted its stake in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,333 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,001 shares during the period. EverSource Wealth Advisors LLC increased its position in Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 1,845 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Ultragenyx Pharmaceutical during the second quarter valued at $48,000. 97.67% of the stock is currently owned by institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.