Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 8.6% – Should You Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares traded up 8.6% during mid-day trading on Tuesday . The company traded as high as $32.40 and last traded at $33.3250. 595,851 shares changed hands during trading, a decline of 73% from the average session volume of 2,238,524 shares. The stock had previously closed at $30.68.

Analysts Set New Price Targets

RARE has been the subject of several research reports. The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $61.00 to $25.00 in a research report on Tuesday, March 24th. Weiss Ratings lowered shares of Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th. Morgan Stanley increased their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Finally, Wells Fargo & Company raised their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.56.

Ultragenyx Pharmaceutical Stock Up 10.4%

The business has a 50-day simple moving average of $24.99 and a two-hundred day simple moving average of $24.55. The stock has a market capitalization of $3.34 billion, a P/E ratio of -5.54 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The company had revenue of $136.00 million for the quarter, compared to analyst estimates of $158.19 million. During the same quarter in the prior year, the company earned ($1.57) earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Shehnaaz Suliman sold 5,740 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the sale, the director directly owned 27,951 shares of the company’s stock, valued at approximately $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 24,002 shares of company stock worth $575,039. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently bought and sold shares of RARE. Huntington National Bank increased its holdings in Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 393 shares in the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical in the third quarter worth $39,000. Parallel Advisors LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the last quarter. Leonteq Securities AG grew its holdings in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 573.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 1,845 shares in the last quarter. 97.67% of the stock is currently 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.