Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $43.00 Price Target at Guggenheim

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective decreased by Guggenheim from $52.00 to $43.00 in a research report sent to investors on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the biopharmaceutical company’s stock.

RARE has been the topic of several other research reports. HC Wainwright lowered their target price on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial upgraded Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group decreased their price objective on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $61.00 to $25.00 in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.41.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $26.12 on Friday. Ultragenyx Pharmaceutical has a fifty-two week low of $18.29 and a fifty-two week high of $42.37. The firm has a market capitalization of $2.57 billion, a PE ratio of -4.27 and a beta of 0.39. The stock’s 50-day simple moving average is $22.68 and its 200-day simple moving average is $26.80.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 2,272.48%. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. During the same period in the previous year, the firm posted ($1.57) EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -4.53 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Karah Herdman Parschauer sold 8,135 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $185,478.00. Following the completion of the transaction, the executive vice president owned 76,346 shares in the company, valued at approximately $1,740,688.80. This trade represents a 9.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 4,683 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the completion of the transaction, the chief financial officer owned 110,342 shares of the company’s stock, valued at approximately $2,747,515.80. The trade was a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 111,522 shares of company stock worth $2,543,214 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock worth $236,068,000 after buying an additional 131,087 shares in the last quarter. State Street Corp raised its stake in shares of Ultragenyx Pharmaceutical by 16.5% in the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after buying an additional 610,559 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Ultragenyx Pharmaceutical by 26.6% in the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock worth $56,624,000 after buying an additional 516,781 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after buying an additional 1,864,164 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

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.