UBS Group Begins Coverage on Ultragenyx Pharmaceutical (NASDAQ:RARE)

Analysts at UBS Group assumed coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set a “neutral” rating and a $16.00 price target on the biopharmaceutical company’s stock. UBS Group’s price objective indicates a potential upside of 7.38% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Bank of America downgraded shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. Robert W. Baird downgraded shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $16.00 in a research note on Thursday, September 3rd. William Blair raised shares of Ultragenyx Pharmaceutical to a “hold” rating in a research note on Wednesday, September 23rd. Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 18th. Finally, TD Cowen lowered their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.65.

Ultragenyx Pharmaceutical Trading Down 0.1%

Ultragenyx Pharmaceutical stock opened at $14.90 on Thursday. The stock has a market cap of $1.47 billion, a PE ratio of -2.55 and a beta of 0.35. The stock has a 50-day moving average price of $19.26 and a 200 day moving average price of $23.65. Ultragenyx Pharmaceutical has a 52 week low of $12.73 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.17) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -3.95 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RARE. Versant Capital Management Inc grew its holdings in Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,001 shares during the period. GAMMA Investing LLC increased its position in Ultragenyx Pharmaceutical by 149.5% during the second quarter. GAMMA Investing LLC now owns 1,919 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,150 shares during the last quarter. Leonteq Securities AG raised its stake in Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares during the period. Quantbot Technologies LP purchased a new position in Ultragenyx Pharmaceutical during the second quarter worth approximately $48,000. Finally, Parallel Advisors LLC raised its stake in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.