Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Raised to Hold at UBS Group

UBS Group upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) to a hold rating in a research report report published on Wednesday,Zacks reports.

A number of other research firms have also recently commented on RARE. Morgan Stanley lifted their price target on Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 18th. Royal Bank Of Canada downgraded Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Guggenheim reduced their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. William Blair upgraded shares of Ultragenyx Pharmaceutical to a “hold” rating in a report on Wednesday, September 23rd. Finally, Barclays lifted their target price on shares of Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.65.

Ultragenyx Pharmaceutical Price Performance

RARE stock traded down $0.63 during trading hours on Wednesday, reaching $14.54. The stock had a trading volume of 2,924,016 shares, compared to its average volume of 4,951,327. The stock has a market capitalization of $1.43 billion, a PE ratio of -2.49 and a beta of 0.35. The stock has a 50-day simple moving average of $18.82 and a 200 day simple moving average of $23.56. Ultragenyx Pharmaceutical has a fifty-two week low of $12.73 and a fifty-two week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. The business’s revenue was up 28.5% on a year-over-year basis. During the same period last year, the business earned ($1.17) EPS. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in Ultragenyx Pharmaceutical by 295.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 477,869 shares of the biopharmaceutical company’s stock worth $7,182,000 after purchasing an additional 357,005 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Ultragenyx Pharmaceutical by 121.9% during the 3rd quarter. Versant Capital Management Inc now owns 2,556 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,404 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $311,000. IFP Advisors Inc grew its position in shares of Ultragenyx Pharmaceutical by 191.7% during the 2nd quarter. IFP Advisors Inc now owns 2,313 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Ultragenyx Pharmaceutical by 130.9% during the second quarter. Allworth Financial LP now owns 4,699 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 2,664 shares during the period. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

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.