Ultragenyx Pharmaceutical (NASDAQ:RARE) Downgraded to “Neutral” Rating by The Goldman Sachs Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday,Finviz reports. They presently have a $25.00 price objective on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 23.33% from the company’s previous close.

Several other equities research analysts have also weighed in on RARE. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Leerink Partners reduced their target price on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, December 30th. Canaccord Genuity Group lowered their price target on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Wedbush restated a “neutral” rating and set a $25.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group cut their price objective on shares of Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, December 30th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.47.

Ultragenyx Pharmaceutical Trading Up 2.0%

Ultragenyx Pharmaceutical stock opened at $20.27 on Tuesday. Ultragenyx Pharmaceutical has a 12 month low of $18.41 and a 12 month high of $42.37. The business’s 50 day simple moving average is $22.70 and its 200 day simple moving average is $28.39. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -3.47 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The firm had revenue of $207.28 million during the quarter, compared to analysts’ expectations of $199.60 million. During the same period in the prior year, the business earned ($1.39) earnings per share. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 1,632 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $37,209.60. Following the completion of the transaction, the chief accounting officer owned 48,670 shares in the company, valued at $1,109,676. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 54,404 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $1,240,411.20. Following the transaction, the chief executive officer directly owned 658,994 shares of the company’s stock, valued at $15,025,063.20. The trade was a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,958 shares of company stock worth $2,394,858 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after purchasing an additional 1,864,164 shares in the last quarter. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $29,004,000. Millennium Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 787.6% during the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock valued at $20,255,000 after purchasing an additional 781,431 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $22,560,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Ultragenyx Pharmaceutical by 599.2% in the third quarter. Russell Investments Group Ltd. now owns 840,451 shares of the biopharmaceutical company’s stock worth $25,281,000 after purchasing an additional 720,256 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 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.