Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Increased to $75.00 by Analysts at Wells Fargo & Company

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by Wells Fargo & Company from $72.00 to $75.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

RARE has been the topic of several other reports. TD Cowen increased their price target on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Robert W. Baird raised their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an outperform rating in a report on Friday, May 31st. Wedbush raised their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a neutral rating in a report on Friday. The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a buy rating in a report on Friday. Finally, Cantor Fitzgerald raised their price objective on Ultragenyx Pharmaceutical from $115.00 to $116.00 and gave the stock an overweight rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $87.92.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $50.47 on Friday. The business’s 50 day moving average price is $42.00 and its 200-day moving average price is $44.48. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $54.56. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -6.29 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 392.36% and a negative net margin of 121.57%. The firm had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. During the same period in the prior year, the business posted ($2.25) earnings per share. The company’s revenue for the quarter was up 35.7% on a year-over-year basis. Sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.45 earnings per share for the current year.

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now owns 7,248 shares of the company’s stock, valued at approximately $297,892.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now owns 7,248 shares of the company’s stock, valued at approximately $297,892.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the completion of the sale, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,127 shares of company stock worth $536,593. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently made changes to their positions in RARE. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth about $28,000. UMB Bank n.a. lifted its position in Ultragenyx Pharmaceutical by 118.8% during the 4th 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. nVerses Capital LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $33,000. GAMMA Investing LLC lifted its position in Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 865 shares during the period. Finally, Van ECK Associates Corp lifted 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 acquiring 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.