Royal Bank of Canada Reiterates Outperform Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $77.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 35.37% from the stock’s current price.

A number of other equities analysts also recently issued reports on RARE. The Goldman Sachs Group upped their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wedbush increased their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price target on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Bank of America lowered their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Barclays cut their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Trading Up 0.2 %

Shares of RARE traded up $0.12 during trading hours on Thursday, hitting $56.88. The company had a trading volume of 4,769 shares, compared to its average volume of 783,399. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $60.37. The company’s fifty day moving average price is $52.79 and its two-hundred day moving average price is $46.59. The company has a market capitalization of $5.24 billion, a PE ratio of -7.08 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.64) by $0.12. The business had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.25) earnings per share. Analysts forecast that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the sale, the chief executive officer now owns 2,243,985 shares of the company’s stock, valued at approximately $112,580,727.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,675 shares of company stock worth $2,149,446 over the last quarter. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at $28,000. nVerses Capital LLC purchased a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $33,000. UMB Bank n.a. lifted its position in shares of Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 352 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Ultragenyx Pharmaceutical by 67.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 1,339 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.