Ultragenyx Pharmaceutical (NASDAQ:RARE) Downgraded to Sell at StockNews.com

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley lowered their price objective on Ultragenyx Pharmaceutical from $120.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, February 11th. JPMorgan Chase & Co. raised Ultragenyx Pharmaceutical from a “neutral” rating to an “overweight” rating and set a $132.00 price target on the stock in a report on Friday, February 11th. Zacks Investment Research raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating and set a $75.00 target price on the stock in a research note on Tuesday, February 15th. Finally, Credit Suisse Group raised Ultragenyx Pharmaceutical from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $99.00 to $105.00 in a research note on Wednesday, March 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Buy” and an average price target of $122.27.

Ultragenyx Pharmaceutical stock traded down $4.92 during trading hours on Tuesday, hitting $70.74. The stock had a trading volume of 357,442 shares, compared to its average volume of 430,245. Ultragenyx Pharmaceutical has a 1-year low of $61.21 and a 1-year high of $119.54. The firm has a fifty day simple moving average of $71.79. The company has a market cap of $4.91 billion, a PE ratio of -10.54 and a beta of 1.68.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last released its earnings results on Thursday, February 10th. The biopharmaceutical company reported ($1.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.47). The business had revenue of $83.39 million for the quarter, compared to analysts’ expectations of $83.68 million. Ultragenyx Pharmaceutical had a negative return on equity of 44.24% and a negative net margin of 129.20%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the company posted ($1.34) earnings per share. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.57 earnings per share for the current fiscal year.

In other news, EVP Karah Herdman Parschauer sold 5,140 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $62.95, for a total transaction of $323,563.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas Richard Kassberg sold 10,281 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $67.01, for a total transaction of $688,929.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,421 shares of company stock valued at $1,613,909. Corporate insiders own 6.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Ultragenyx Pharmaceutical by 32.9% during the third quarter. Dimensional Fund Advisors LP now owns 226,256 shares of the biopharmaceutical company’s stock worth $20,401,000 after acquiring an additional 56,065 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Ultragenyx Pharmaceutical by 133.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 43,361 shares of the biopharmaceutical company’s stock worth $3,911,000 after buying an additional 24,799 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Ultragenyx Pharmaceutical by 13.0% during the 4th quarter. Virginia Retirement Systems ET AL now owns 13,900 shares of the biopharmaceutical company’s stock valued at $1,169,000 after purchasing an additional 1,600 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter worth $334,000. Finally, Rock Springs Capital Management LP grew its holdings in Ultragenyx Pharmaceutical by 72.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 801,109 shares of the biopharmaceutical company’s stock worth $72,252,000 after acquiring an additional 336,109 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

About Ultragenyx Pharmaceutical (Get Rating)

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, 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.

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