Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading 8.6% Higher

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) traded up 8.6% on Wednesday . The stock traded as high as $45.09 and last traded at $44.97. 711,930 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 751,268 shares. The stock had previously closed at $41.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their price target on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. The Goldman Sachs Group raised shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $67.00 in a research report on Thursday, June 6th. Bank of America reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a report on Friday, May 31st. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They set an “outperform” rating and a $77.00 price objective on the stock. Finally, TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $86.71.

Ultragenyx Pharmaceutical Trading Up 7.8 %

The company has a 50-day moving average of $43.06 and a 200-day moving average of $45.12. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -5.54 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The company had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned ($2.33) EPS. On average, research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.49 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the sale, the director now directly owns 7,248 shares of the company’s stock, valued at $297,892.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently modified their holdings of RARE. Headlands Technologies LLC acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter worth approximately $28,000. UMB Bank n.a. increased its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 329 shares during the period. Covestor Ltd lifted its position in Ultragenyx Pharmaceutical by 392.1% during the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares during the period. GAMMA Investing LLC boosted its holdings in Ultragenyx Pharmaceutical by 622.3% in the first 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 last quarter. Finally, Van ECK Associates Corp grew its position in Ultragenyx Pharmaceutical by 34.0% during the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares during the period. 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.