Guggenheim Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $35.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective reduced by Guggenheim from $43.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on RARE. Wells Fargo & Company raised their target price on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target 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. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Barclays lowered their price objective on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.82.

Ultragenyx Pharmaceutical Stock Up 3.6%

Shares of NASDAQ RARE opened at $25.82 on Tuesday. Ultragenyx Pharmaceutical has a 12 month low of $18.29 and a 12 month high of $39.89. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -4.42 and a beta of 0.35. The business has a fifty day simple moving average of $27.85 and a 200-day simple moving average of $24.79.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.Ultragenyx Pharmaceutical’s revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.17) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -4.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Shehnaaz Suliman sold 5,740 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the completion of the sale, the director directly owned 27,951 shares in the company, valued at approximately $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Howard Horn sold 4,653 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. This represents a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,292 shares of company stock worth $351,644. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after acquiring an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Ultragenyx Pharmaceutical by 614.1% in 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 in the last quarter. Norges Bank purchased a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at about $29,004,000. Eagle Health Investments LP acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter worth about $18,522,000. Finally, Millennium Management LLC increased its position in Ultragenyx Pharmaceutical by 787.6% in the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock worth $20,255,000 after purchasing an additional 781,431 shares during the last quarter. 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.