Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report released on Tuesday morning, Benzinga reports. They currently have a $48.00 price objective on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research note on Monday, March 18th. Robert W. Baird boosted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $91.55.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $42.37 on Tuesday. The firm’s fifty day simple moving average is $48.01 and its 200-day simple moving average is $43.49. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -5.09 and a beta of 0.65. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.13. The business had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($2.16) EPS. Analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Matthew K. Fust sold 12,195 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now directly owns 14,860 shares in the company, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business’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 sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. Insiders have sold a total of 32,116 shares of company stock valued at $1,645,983 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in RARE. Raymond James & Associates boosted its position in shares of Ultragenyx Pharmaceutical by 46.0% in the 1st quarter. Raymond James & Associates now owns 13,882 shares of the biopharmaceutical company’s stock worth $1,008,000 after buying an additional 4,373 shares in the last quarter. US Bancorp DE boosted its position in shares of Ultragenyx Pharmaceutical by 14.6% in the 1st quarter. US Bancorp DE now owns 8,611 shares of the biopharmaceutical company’s stock worth $625,000 after buying an additional 1,097 shares in the last quarter. Bank of Montreal Can lifted its holdings in Ultragenyx Pharmaceutical by 22.7% in the 1st quarter. Bank of Montreal Can now owns 40,319 shares of the biopharmaceutical company’s stock valued at $2,927,000 after purchasing an additional 7,469 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Ultragenyx Pharmaceutical in the 1st quarter valued at about $252,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Ultragenyx Pharmaceutical by 44.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 463,996 shares of the biopharmaceutical company’s stock valued at $33,693,000 after purchasing an additional 141,945 shares in 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, 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.