Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Given Average Rating of “Moderate Buy” by Brokerages

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $87.46.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. HC Wainwright raised their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $43.47 on Friday. The stock has a market cap of $4.01 billion, a P/E ratio of -6.72 and a beta of 0.56. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The firm has a fifty day moving average price of $49.96 and a 200 day moving average price of $49.27.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share 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 business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.23) earnings per share. Sell-side analysts expect that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares in the company, valued at $109,785,600. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, 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 company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently bought and sold shares of RARE. Alkeon Capital Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Ultragenyx Pharmaceutical by 8.7% in the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after purchasing an additional 168,345 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Ultragenyx Pharmaceutical by 7.5% during the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock worth $87,553,000 after buying an additional 109,567 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after buying an additional 65,623 shares during the last quarter. Institutional investors and hedge funds 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.