Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $61.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target upped by stock analysts at TD Cowen from $59.00 to $61.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price suggests a potential upside of 39.11% from the company’s current price.

Several other research firms have also issued reports on RARE. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Monday. They issued an “outperform” rating and a $77.00 price objective for the company. 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 research note on Monday, March 18th. Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.08.

Ultragenyx Pharmaceutical Stock Down 1.0 %

Shares of NASDAQ:RARE opened at $43.85 on Wednesday. The firm has a fifty day moving average of $47.94 and a two-hundred day moving average of $43.75. The firm has a market capitalization of $3.61 billion, a P/E ratio of -5.26 and a beta of 0.65. 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 earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.13. The company had revenue of $127.39 million during the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted ($2.16) EPS. Equities research analysts expect that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares in the company, valued at approximately $12,623,452.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Matthew K. Fust sold 12,195 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the transaction, the director now owns 14,860 shares in the company, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares in the company, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock worth $1,645,983 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock valued at $14,143,000 after acquiring an additional 19,487 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $2,745,000 after acquiring an additional 17,000 shares in the last quarter. CHI Advisors LLC boosted its position in shares of Ultragenyx Pharmaceutical by 152.9% during the 3rd quarter. CHI Advisors LLC now owns 215,000 shares of the biopharmaceutical company’s stock valued at $7,665,000 after acquiring an additional 130,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after acquiring an additional 214,666 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Ultragenyx Pharmaceutical by 6.8% during the 3rd quarter. Deutsche Bank AG now owns 947,732 shares of the biopharmaceutical company’s stock valued at $33,787,000 after acquiring an additional 60,001 shares in the last quarter. 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.