Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Upgraded by HC Wainwright

Ultragenyx Pharmaceutical (NASDAQ:RARE) was upgraded by stock analysts at HC Wainwright to a “buy” rating in a report issued on Monday, MarketBeat Ratings reports. The firm presently has a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 187.61% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company cut their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Guggenheim reaffirmed a “buy” rating and issued a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Wedbush cut their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 14th. Morgan Stanley cut their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, July 14th. Finally, William Blair initiated coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an “outperform” rating and a $65.00 target price on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.57.

Ultragenyx Pharmaceutical Trading Up 0.7%

RARE traded up $0.21 during midday trading on Monday, hitting $27.82. The company’s stock had a trading volume of 625,228 shares, compared to its average volume of 1,238,708. The firm has a market cap of $2.63 billion, a P/E ratio of -4.73 and a beta of 0.26. The firm has a 50-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 posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). The business had revenue of $139.29 million for the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 186.49% and a negative net margin of 93.04%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the company posted ($2.03) EPS. On average, equities analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the sale, the director directly owned 15,344 shares of the company’s stock, valued at $573,712.16. This trade represents a 13.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 purchasing an additional 965,919 shares in the last quarter. Norges Bank bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $40,463,000. Assenagon Asset Management S.A. raised its position in Ultragenyx Pharmaceutical by 439.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,163,755 shares of the biopharmaceutical company’s stock valued at $42,314,000 after purchasing an additional 947,865 shares during the last quarter. Vestal Point Capital LP raised its position in Ultragenyx Pharmaceutical by 100.0% in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Ultragenyx Pharmaceutical by 28.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock worth $116,559,000 after acquiring an additional 706,519 shares during the last quarter. Institutional investors and hedge funds 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.