Ultragenyx Pharmaceutical’s (RARE) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $95.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages have also recently commented on RARE. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen boosted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.46.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $43.75 on Tuesday. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37. The firm’s 50-day simple moving average is $49.28 and its 200 day simple moving average is $49.37. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -6.76 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results 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 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 firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the business earned ($2.23) earnings per share. Sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 8,273 shares of the company’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 in the company, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $33,000. UMB Bank n.a. increased its stake 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 purchasing an additional 352 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at about $43,000. Values First Advisors Inc. bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth about $56,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $83,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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.