Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $19.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price upped by TD Cowen from $18.00 to $19.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on RARE. Wedbush reduced their price objective on shares of Ultragenyx Pharmaceutical from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Barclays raised their target price on shares of Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Jefferies Financial Group reduced their target price on shares of Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Evercore lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price target on the stock. in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.79.

Ultragenyx Pharmaceutical Trading Down 0.9%

Shares of RARE traded down $0.14 during mid-day trading on Wednesday, reaching $15.43. The company’s stock had a trading volume of 4,049,110 shares, compared to its average volume of 3,379,657. Ultragenyx Pharmaceutical has a 1-year low of $12.73 and a 1-year high of $39.89. The business has a 50-day simple moving average of $16.02 and a two-hundred day simple moving average of $22.71. The stock has a market cap of $1.52 billion, a P/E ratio of -2.97 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06). The company had revenue of $173.00 million during the quarter, compared to analyst estimates of $182.49 million. During the same quarter in the previous year, the firm earned ($1.81) earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that Ultragenyx Pharmaceutical will post -3.45 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $15.27, for a total value of $107,897.82. Following the completion of the sale, the chief financial officer owned 89,229 shares of the company’s stock, valued at $1,362,526.83. The trade was a 7.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 8,510 shares of company stock valued at $127,561. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RARE. Versant Capital Management Inc raised its position 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 valued at $38,000 after buying an additional 1,001 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $48,000. Harbor Investment Advisory LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $52,000. Parallel Advisors LLC grew its position 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 buying an additional 1,440 shares in the last quarter. Finally, Leonteq Securities AG grew its position 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 buying an additional 1,333 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Key Ultragenyx Pharmaceutical News

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

• Positive Sentiment: The UK medicines regulator has accepted Ultragenyx’s marketing application for rebi-vec (UX111), its gene therapy for Sanfilippo syndrome Type A, and is reviewing it. This is a step toward a possible UK authorization, but the therapy remains investigational and has not been approved. Company announcement
• Positive Sentiment: H.C. Wainwright and TD Cowen both reiterated Buy ratings, signaling that these analysts see potential despite recent price-target reductions. H.C. Wainwright rating TD Cowen rating
• Negative Sentiment: Several firms have lowered their price targets, reflecting more restrained expectations. Canaccord cut its target from $39 to $34, Citi reduced its target from $32 to $22, and Barclays lowered its target from $35 to $32; all retained Buy or Overweight ratings. The revisions may weigh on sentiment even as analysts remain positive on the shares. Canaccord target revision Citi target revision

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

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