Wedbush Reiterates Neutral Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $48.00 target price on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential upside of 11.09% from the stock’s current price.

RARE has been the subject of several other research reports. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Robert W. Baird upped their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.55.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded up $0.34 during trading on Tuesday, hitting $43.21. 118,532 shares of the company’s stock traded hands, compared to its average volume of 753,233. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -5.19 and a beta of 0.65. The business has a 50 day moving average of $48.22 and a 200-day moving average of $43.39. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. During the same quarter in the prior year, the business posted ($2.16) earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical will post -6.34 EPS for the current year.

Insider Activity

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. Insiders sold a total of 31,974 shares of company stock worth $1,639,721 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently modified their holdings of the business. Covestor Ltd raised its stake in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 596 shares during the period. UMB Bank n.a. raised its position in Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 329 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 865 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 36.6% in the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 240 shares during the period. Finally, Comerica Bank increased its position in shares of Ultragenyx Pharmaceutical by 24.7% during the 4th quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 264 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.