Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $80.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on RARE. Wedbush reduced their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 14th. William Blair started coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an “outperform” rating and a $65.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Morgan Stanley dropped their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, July 14th. Finally, Wells Fargo & Company decreased their price target on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.57.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $27.61 on Monday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -4.70 and a beta of 0.26. The stock has a fifty day moving average price of $34.65 and a two-hundred day moving average price of $37.54. Ultragenyx Pharmaceutical has a 52-week low of $25.81 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). The business had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted ($2.03) earnings per share. As a group, research analysts predict that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the completion of the sale, the director owned 15,344 shares of the company’s stock, valued at approximately $573,712.16. This represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its stake in Ultragenyx Pharmaceutical by 81.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after buying an additional 965,919 shares during the period. Norges Bank bought a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter worth about $40,463,000. Assenagon Asset Management S.A. raised its position in shares of Ultragenyx Pharmaceutical by 439.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,163,755 shares of the biopharmaceutical company’s stock worth $42,314,000 after purchasing an additional 947,865 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock valued at $116,559,000 after purchasing an additional 706,519 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

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.