Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Has Consensus Target Price of $34.58

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have received an average recommendation of “Hold” from the twenty-one research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $34.58.

A number of research analysts have recently commented on the company. Guggenheim lowered their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Royal Bank Of Canada cut Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Barclays increased their price objective on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. Wells Fargo & Company cut shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $50.00 to $18.00 in a report on Thursday, September 3rd. Finally, Wedbush reduced their target price on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $15.22 on Friday. Ultragenyx Pharmaceutical has a 1 year low of $12.73 and a 1 year high of $39.89. The company has a market cap of $1.50 billion, a P/E ratio of -2.61 and a beta of 0.35. The firm has a 50-day moving average of $20.96 and a 200 day moving average of $23.92.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the firm posted ($1.17) earnings per share. The business’s revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts expect that Ultragenyx Pharmaceutical will post -3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the period. Leonteq Securities AG lifted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,001 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Ultragenyx Pharmaceutical by 573.0% in the 1st 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 last quarter. Finally, Quantbot Technologies LP bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $48,000. Institutional investors 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 diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.