Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $88.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price increased by stock analysts at Wells Fargo & Company from $75.00 to $88.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 99.00% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. TD Cowen increased their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.46.

Ultragenyx Pharmaceutical Stock Up 1.7 %

RARE stock opened at $44.22 on Friday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -6.83 and a beta of 0.56. Ultragenyx Pharmaceutical has a twelve month low of $37.02 and a twelve month high of $60.37. The business’s fifty day simple moving average is $49.53 and its two-hundred day simple moving average is $49.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter last year, the business posted ($2.23) EPS. Research analysts expect that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total transaction of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated 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. This represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in Ultragenyx Pharmaceutical in the second quarter valued at $33,000. UMB Bank n.a. lifted its holdings in 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 during the period. True Wealth Design LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $43,000. Values First Advisors Inc. purchased a new stake in Ultragenyx Pharmaceutical during the third quarter worth $56,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Ultragenyx Pharmaceutical during the third quarter valued at $83,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.