Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Down 1.8%

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price dropped 1.8% during mid-day trading on Wednesday . The company traded as low as $40.22 and last traded at $40.24. Approximately 33,023 shares traded hands during trading, a decline of 96% from the average daily volume of 818,535 shares. The stock had previously closed at $40.96.

Analysts Set New Price Targets

RARE has been the subject of a number of research reports. TD Cowen increased their price objective on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Bank of America decreased their price target on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, The Goldman Sachs Group upgraded Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $67.00 in a research note on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $86.71.

Ultragenyx Pharmaceutical Price Performance

The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -5.01 and a beta of 0.56. The stock has a 50-day moving average price of $41.00 and a 200-day moving average price of $44.93.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share 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 425.63% and a negative net margin of 138.58%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted ($2.33) earnings per share. Equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.46 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 9,806 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the sale, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $41.10, for a total transaction of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,269 shares of company stock valued at $542,855. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Ultragenyx Pharmaceutical by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after acquiring an additional 26,575 shares during the period. RTW Investments LP increased its stake in shares of Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Ultragenyx Pharmaceutical by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock valued at $185,233,000 after purchasing an additional 18,359 shares during the last quarter. Sands Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 59.8% in the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after purchasing an additional 1,540,791 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after purchasing an additional 120,175 shares during 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.