Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $87.43 Average Price Target from Brokerages

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $87.43.

RARE has been the subject of several recent research reports. Cantor Fitzgerald lifted their price objective on Ultragenyx Pharmaceutical from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Barclays decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th.

Ultragenyx Pharmaceutical Trading Up 2.7 %

Shares of RARE opened at $57.83 on Friday. The firm has a market capitalization of $4.81 billion, a P/E ratio of -7.20 and a beta of 0.56. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $58.73. The firm has a fifty day moving average price of $49.76 and a 200-day moving average price of $46.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. The firm had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business’s revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.25) earnings per share. Analysts predict that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 40,675 shares of company stock worth $2,149,446 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Ultragenyx Pharmaceutical by 513.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after buying an additional 424,476 shares during the last quarter. Franklin Resources Inc. boosted its position in Ultragenyx Pharmaceutical by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after buying an additional 25,144 shares during the last quarter. Clearbridge Investments LLC boosted its position in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Ultragenyx Pharmaceutical by 21.2% in the fourth quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after buying an additional 38,859 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.