Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $121.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by Canaccord Genuity Group from $109.00 to $121.00 in a research report sent to investors on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other research reports. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. 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 note on Monday, October 21st. Barclays decreased their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group upped their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE traded down $0.07 on Wednesday, reaching $50.36. 1,246,799 shares of the company traded hands, compared to its average volume of 783,398. The stock has a market capitalization of $4.64 billion, a PE ratio of -7.78 and a beta of 0.58. The company’s 50 day moving average is $55.06 and its 200-day moving average is $48.17. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37.

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 business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter last year, the company posted ($2.23) EPS. As a group, analysts expect that Ultragenyx Pharmaceutical will post -6.29 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,465 shares of the firm’s 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 transaction, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 over the last ninety days. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $227,000. GSA Capital Partners LLP acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $493,000. Duality Advisers LP grew its stake in shares of Ultragenyx Pharmaceutical by 1.5% in the first quarter. Duality Advisers LP now owns 39,977 shares of the biopharmaceutical company’s stock worth $1,867,000 after acquiring an additional 606 shares during the last quarter. Finally, Swiss National Bank grew its position in Ultragenyx Pharmaceutical by 3.0% in the 1st quarter. Swiss National Bank now owns 145,852 shares of the biopharmaceutical company’s stock worth $6,810,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors 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.