Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $136.00 Price Target at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target lifted by investment analysts at Canaccord Genuity Group from $121.00 to $136.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 220.08% from the stock’s previous close.

Several other brokerages have also issued reports on RARE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, January 22nd. TD Cowen upped their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wedbush reissued a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Finally, Piper Sandler raised their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Trading Down 2.4 %

Shares of RARE stock opened at $42.49 on Tuesday. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -6.57 and a beta of 0.60. The stock has a 50-day moving average of $43.46 and a 200-day moving average of $49.59.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Sell-side analysts forecast that Ultragenyx Pharmaceutical will post -6.12 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC grew its holdings in Ultragenyx Pharmaceutical by 46.9% during the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after purchasing an additional 23,580 shares during the period. Bamco Inc. NY bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth $2,666,000. Principal Financial Group Inc. increased its holdings in Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares during the last quarter. Cerity Partners LLC bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $1,773,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 294 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

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.