Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $47.00 by Analysts at Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective reduced by Wedbush from $48.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 9.94% from the company’s previous close.

RARE has been the subject of a number of other research reports. Robert W. Baird boosted their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They set an “outperform” rating and a $77.00 price objective for the company. Finally, TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Ultragenyx Pharmaceutical Stock Down 1.0 %

Shares of Ultragenyx Pharmaceutical stock opened at $42.75 on Friday. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.98. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -5.32 and a beta of 0.68. The firm’s 50-day moving average price is $47.25 and its two-hundred day moving average price is $44.14.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The firm had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.33) EPS. On average, sell-side analysts expect that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction on Friday, March 1st. The stock was 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 directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Richard Pinion sold 4,173 shares of the company’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 value of $224,340.48. Following the sale, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,116 shares of company stock worth $1,645,983. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Ultragenyx Pharmaceutical by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock worth $14,143,000 after purchasing an additional 19,487 shares during the period. DekaBank Deutsche Girozentrale grew 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 worth $2,745,000 after buying an additional 17,000 shares during the period. CHI Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 152.9% in 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. lifted 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 during the period. Finally, Deutsche Bank AG boosted its stake in Ultragenyx Pharmaceutical by 6.8% during the third quarter. Deutsche Bank AG now owns 947,732 shares of the biopharmaceutical company’s stock worth $33,787,000 after acquiring an additional 60,001 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.