HC Wainwright Reaffirms “Buy” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $60.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 142.40% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial reduced their price objective on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Leerink Partners reduced their price target on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, December 30th. Bank of America dropped their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating for the company in a report on Friday, January 2nd. TD Cowen cut their price objective on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Robert W. Baird decreased their target price on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Sixteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $72.29.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $24.75 on Tuesday. Ultragenyx Pharmaceutical has a 1-year low of $18.41 and a 1-year high of $46.50. The company’s fifty day simple moving average is $28.87 and its 200-day simple moving average is $29.98. The stock has a market capitalization of $2.39 billion, a PE ratio of -4.17 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data 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). The company had revenue of $159.93 million for the quarter, compared to the consensus estimate of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.40) earnings per share. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 3,081 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total value of $112,086.78. Following the completion of the sale, the chief financial officer directly owned 95,146 shares in the company, valued at approximately $3,461,411.48. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in RARE. Assetmark Inc. increased its position in Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 1,024 shares in the last quarter. Huntington National Bank increased its holdings in shares of Ultragenyx Pharmaceutical by 56.2% during the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 393 shares in the last quarter. Danske Bank A S purchased a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at approximately $39,000. Elevation Point Wealth Partners LLC acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $55,000. Finally, Smartleaf Asset Management LLC grew its position in Ultragenyx Pharmaceutical by 205.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,169 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other 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 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.