Ultragenyx Pharmaceutical (NASDAQ:RARE) Sees Unusually-High Trading Volume – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares saw an uptick in trading volume on Tuesday . 2,754,421 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 1,448,977 shares.The stock last traded at $21.6150 and had previously closed at $19.72.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RARE shares. Barclays reduced their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Leerink Partners cut their price objective on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial reduced their price objective on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company lowered their target price on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.19.

Ultragenyx Pharmaceutical Stock Up 1.0%

The company’s fifty day moving average price is $33.23 and its 200 day moving average price is $31.94. The company has a market capitalization of $2.22 billion, a P/E ratio of -3.87 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The company had revenue of $159.93 million for the quarter, compared to analyst estimates of $167.42 million. During the same period in the prior year, the company earned ($1.40) EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,942 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $31.51, for a total value of $250,252.42. Following the completion of the transaction, the chief financial officer owned 98,227 shares of the company’s stock, valued at $3,095,132.77. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 11,108 shares of company stock valued at $365,262 in the last quarter. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently bought and sold shares of RARE. Comerica Bank lifted its holdings in shares of Ultragenyx Pharmaceutical by 464.2% during the 1st quarter. Comerica Bank now owns 7,352 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 6,049 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Ultragenyx Pharmaceutical during the first quarter valued at approximately $4,400,000. Adage Capital Partners GP L.L.C. lifted its stake in Ultragenyx Pharmaceutical by 81.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after purchasing an additional 965,919 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Ultragenyx Pharmaceutical by 3.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company’s stock valued at $54,147,000 after purchasing an additional 55,611 shares in the last quarter. Finally, Cinctive Capital Management LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 22.7% in the 1st quarter. Cinctive Capital Management LP now owns 77,261 shares of the biopharmaceutical company’s stock valued at $2,798,000 after purchasing an additional 14,301 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.