Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading Up 1.9%

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) were up 1.9% during mid-day trading on Tuesday . The company traded as high as $43.71 and last traded at $43.67. Approximately 27,646 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 752,133 shares. The stock had previously closed at $42.87.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RARE shares. JPMorgan Chase & Co. upped their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Robert W. Baird increased their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Wedbush reissued a “neutral” rating and set a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.55.

Ultragenyx Pharmaceutical Trading Up 2.4 %

The company’s fifty day moving average is $48.22 and its 200 day moving average is $43.39. The company has a market capitalization of $3.61 billion, a P/E ratio of -5.19 and a beta of 0.65.

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 net margin of 139.70% and a negative return on equity of 369.54%. The business had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. During the same period in the prior year, the company posted ($2.16) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.34 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its position in Ultragenyx Pharmaceutical by 392.1% in the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 596 shares during the period. UMB Bank n.a. raised its position in Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares during the period. GAMMA Investing LLC raised its position in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the period. Lazard Asset Management LLC raised its position in 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 raised its position in Ultragenyx Pharmaceutical by 24.7% in the 4th quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.