Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Wedbush

Wedbush restated their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note released on Tuesday, Benzinga reports. They currently have a $48.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on RARE. Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a report on Monday, March 18th. Finally, Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $91.55.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $42.31 on Tuesday. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The company has a 50 day moving average of $48.22 and a 200-day moving average of $43.39. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -5.08 and a beta of 0.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company had revenue of $127.39 million during the quarter, compared to analysts’ expectations of $119.38 million. During the same quarter in the previous year, the company earned ($2.16) EPS. Ultragenyx Pharmaceutical’s revenue was up 23.3% on a year-over-year basis. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.34 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $201,922.56. Following the completion of the sale, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,974 shares of company stock worth $1,639,721 over the last ninety days. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently modified their holdings of the business. Woodstock Corp lifted its position in Ultragenyx Pharmaceutical by 38.0% during the first quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company’s stock worth $519,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC lifted its position in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the period. Vanguard Group Inc. lifted its position in Ultragenyx Pharmaceutical by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after purchasing an additional 1,440,264 shares during the period. Public Employees Retirement System of Ohio lifted its position in Ultragenyx Pharmaceutical by 19.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,910 shares of the biopharmaceutical company’s stock worth $1,574,000 after purchasing an additional 5,359 shares during the period. Finally, Blue Owl Capital Holdings LP bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth about $12,588,000. Institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.