Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $77.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the company. Wedbush restated a neutral rating and issued a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Cantor Fitzgerald restated an overweight rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Canaccord Genuity Group increased their price target on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target 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, Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $90.33.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $43.69 on Monday. The company has a market cap of $3.60 billion, a PE ratio of -5.24 and a beta of 0.65. The company has a 50-day simple moving average of $48.01 and a 200-day simple moving average of $43.61. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. During the same period in the previous year, the firm posted ($2.16) EPS. Ultragenyx Pharmaceutical’s revenue was up 23.3% on a year-over-year basis. On average, analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now owns 89,268 shares in the company, valued at approximately $4,799,047.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 in the last 90 days. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in RARE. Covestor Ltd increased its stake in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 596 shares during the last quarter. UMB Bank n.a. grew its holdings in Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 329 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st 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 last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Ultragenyx Pharmaceutical by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Ultragenyx Pharmaceutical by 34.0% during the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.