Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Up to $42.50

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RAREGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $42.50, but opened at $44.46. Ultragenyx Pharmaceutical shares last traded at $43.86, with a volume of 699 shares.

Wall Street Analysts Forecast Growth

RARE has been the subject of a number of research analyst reports. StockNews.com lowered Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Saturday, November 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $82.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, December 30th. Robert W. Baird raised Ultragenyx Pharmaceutical from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $63.00 to $50.00 in a research report on Thursday, November 3rd. Finally, Guggenheim raised Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Ultragenyx Pharmaceutical Stock Performance

The stock has a fifty day moving average price of $41.06 and a 200-day moving average price of $45.20. The firm has a market capitalization of $2.91 billion, a PE ratio of -4.26 and a beta of 1.01.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last announced its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.29) by ($0.14). Ultragenyx Pharmaceutical had a negative return on equity of 84.14% and a negative net margin of 197.47%. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $98.76 million. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -8.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Theodore Alan Huizenga sold 2,031 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $43.96, for a total transaction of $89,282.76. Following the transaction, the chief accounting officer now directly owns 16,197 shares in the company, valued at approximately $712,020.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 6.70% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Ultragenyx Pharmaceutical by 151.0% during the 3rd quarter. Signaturefd LLC now owns 600 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 361 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $27,000. Lazard Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 36.6% during the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 240 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in Ultragenyx Pharmaceutical by 650.0% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Ultragenyx Pharmaceutical by 25.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,918 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

(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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