TD Cowen Boosts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $73.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price increased by TD Cowen from $61.00 to $73.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on RARE. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays dropped their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $88.29.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $54.69 on Monday. The stock has a market capitalization of $5.04 billion, a P/E ratio of -7.49 and a beta of 0.57. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $60.37. The business has a 50-day moving average of $55.97 and a 200-day moving average of $47.71.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. The firm had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business’s revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.25) EPS. Equities analysts expect that Ultragenyx Pharmaceutical will post -6.28 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,556 shares of company stock valued at $2,519,367 in the last quarter. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after acquiring an additional 1,440,264 shares during the period. GAMMA Investing LLC boosted its holdings in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 865 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Ultragenyx Pharmaceutical by 40.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 49,537 shares of the biopharmaceutical company’s stock worth $2,313,000 after purchasing an additional 14,159 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 67.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares during the period. Finally, Privium Fund Management B.V. raised its position in shares of Ultragenyx Pharmaceutical by 29.2% in the first quarter. Privium Fund Management B.V. now owns 215,102 shares of the biopharmaceutical company’s stock valued at $10,043,000 after buying an additional 48,596 shares in 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.