HC Wainwright Lowers Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $60.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price decreased by analysts at HC Wainwright from $80.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 157.47% from the company’s previous close.

RARE has been the topic of a number of other research reports. Guggenheim dropped their target price on Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Monday. Barclays decreased their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price objective on Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, December 30th. Finally, Truist Financial lowered their target price on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Sixteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.29.

Ultragenyx Pharmaceutical Trading Down 1.3%

RARE stock traded down $0.30 during midday trading on Monday, hitting $23.30. 1,928,026 shares of the company’s stock were exchanged, compared to its average volume of 2,738,872. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -3.95 and a beta of 0.15. The firm has a 50 day moving average price of $32.82 and a 200-day moving average price of $31.71. Ultragenyx Pharmaceutical has a 12-month low of $18.41 and a 12-month high of $46.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). The firm had revenue of $159.93 million during the quarter, compared to the consensus estimate of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. Ultragenyx Pharmaceutical’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.40) earnings per share. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,942 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $31.51, for a total value of $250,252.42. Following the completion of the sale, the chief financial officer directly owned 98,227 shares of the company’s stock, valued at approximately $3,095,132.77. This represents a 7.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 11,108 shares of company stock valued at $365,262 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP boosted its position in Ultragenyx Pharmaceutical by 2.4% in the third quarter. Hudson Bay Capital Management LP now owns 265,000 shares of the biopharmaceutical company’s stock worth $7,971,000 after purchasing an additional 6,319 shares during the last quarter. Danske Bank A S purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at $39,000. Jacobs Levy Equity Management Inc. raised its position in Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after purchasing an additional 1,864,164 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Ultragenyx Pharmaceutical by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 534 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in Ultragenyx Pharmaceutical in the third quarter worth about $14,516,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.