Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $59.56 Average PT from Analysts

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $59.5625.

RARE has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Truist Financial raised Ultragenyx Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and decreased their price target for the company from $61.00 to $25.00 in a research note on Tuesday, March 24th. Finally, Cantor Fitzgerald raised their price objective on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st.

Insider Activity

In related news, Director Shehnaaz Suliman sold 5,740 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the completion of the transaction, the director owned 27,951 shares of the company’s stock, valued at $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the transaction, the chief financial officer owned 105,689 shares in the company, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 24,002 shares of company stock worth $575,039. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 79.1% in the 3rd quarter. Aquatic Capital Management LLC now owns 191,458 shares of the biopharmaceutical company’s stock valued at $5,759,000 after acquiring an additional 84,559 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $2,083,000. Aberdeen Group plc boosted its holdings in Ultragenyx Pharmaceutical by 94.3% in the third quarter. Aberdeen Group plc now owns 973,656 shares of the biopharmaceutical company’s stock worth $29,288,000 after acquiring an additional 472,600 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Ultragenyx Pharmaceutical in the fourth quarter worth approximately $10,973,000. Finally, Rafferty Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 93.0% in the third quarter. Rafferty Asset Management LLC now owns 156,484 shares of the biopharmaceutical company’s stock valued at $4,707,000 after acquiring an additional 75,388 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Up 1.2%

Shares of RARE stock opened at $29.11 on Thursday. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $42.37. The stock’s fifty day simple moving average is $24.67 and its 200 day simple moving average is $24.68. The firm has a market capitalization of $2.87 billion, a P/E ratio of -4.76 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. Ultragenyx Pharmaceutical’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.57) earnings per share. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -4.53 EPS for the current fiscal year.

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.