Ultragenyx Pharmaceutical’s (RARE) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note released on Monday morning,Benzinga reports. The firm currently has a $48.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $46.00.

A number of other equities research analysts have also issued reports on RARE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. TD Cowen boosted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, HC Wainwright restated a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $92.29.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $43.16 on Monday. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The company has a 50 day moving average price of $46.09 and a 200 day moving average price of $49.63. The stock has a market capitalization of $3.99 billion, a P/E ratio of -6.67 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.23) earnings per share. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 8,273 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC lifted its position in Ultragenyx Pharmaceutical by 46.9% during the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after acquiring an additional 23,580 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $17,468,000. Bamco Inc. NY purchased a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at $2,666,000. Clearline Capital LP acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $1,355,000. Finally, Principal Financial Group Inc. raised its position in Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after buying an additional 76,150 shares during the last quarter. Hedge funds and other 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.