Royal Bank Of Canada Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by stock analysts at Royal Bank Of Canada from $35.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 11.22% from the stock’s previous close.

Several other brokerages have also recently weighed in on RARE. Barclays lowered their price target on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $61.00 to $25.00 in a report on Tuesday, March 24th. Weiss Ratings cut Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Finally, Truist Financial upgraded Ultragenyx Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.41.

Ultragenyx Pharmaceutical Trading Up 6.7%

Shares of Ultragenyx Pharmaceutical stock traded up $2.27 during trading on Tuesday, hitting $35.97. 1,737,389 shares of the stock traded hands, compared to its average volume of 2,273,831. The stock’s fifty day simple moving average is $25.87 and its 200 day simple moving average is $24.46. The firm has a market cap of $3.54 billion, a P/E ratio of -5.87 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52-week low of $18.29 and a 52-week high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. During the same period last year, the company earned ($1.57) earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that Ultragenyx Pharmaceutical will post -4.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares in the company, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,319 shares of company stock valued at $476,837. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. Parallel Advisors LLC raised its position in shares of Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 shares during the last quarter. Leonteq Securities AG grew its position in Ultragenyx Pharmaceutical by 288.5% during the 1st 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. Versant Capital Management Inc increased its stake in Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,001 shares in the last quarter. Danske Bank A S purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $39,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,845 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.