Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 1.9%

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price rose 1.9% during mid-day trading on Tuesday . The company traded as high as $43.71 and last traded at $43.67. Approximately 27,646 shares traded hands during trading, a decline of 96% from the average daily volume of 752,133 shares. The stock had previously closed at $42.87.

Analyst Upgrades and Downgrades

RARE has been the topic of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and set a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday. Robert W. Baird increased their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.55.

Ultragenyx Pharmaceutical Stock Performance

The business has a 50-day moving average of $48.14 and a 200-day moving average of $43.44. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -5.30 and a beta of 0.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. The firm had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned ($2.16) EPS. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the completion of the transaction, the executive vice president now directly owns 67,340 shares in the company, valued at approximately $3,620,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karah Herdman Parschauer sold 3,756 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the transaction, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,974 shares of company stock valued at $1,639,721. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in RARE. Covestor Ltd boosted its stake in shares of Ultragenyx Pharmaceutical by 392.1% in the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 596 shares during the period. UMB Bank n.a. boosted its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 329 shares during the period. GAMMA Investing LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 865 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 36.6% in the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 240 shares during the period. Finally, Comerica Bank boosted its stake in shares of Ultragenyx Pharmaceutical by 24.7% in the 4th quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.