Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $92.29.

Several equities research analysts have weighed in on RARE shares. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. Wedbush restated a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday. Piper Sandler raised their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $40.98 on Thursday. The stock’s fifty day moving average is $45.49 and its 200 day moving average is $49.58. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same period last year, the firm earned ($2.23) EPS. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. On average, analysts predict that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in 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. Alkeon Capital Management LLC increased its position 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 worth $167,301,000 after buying an additional 769,884 shares during the period. Two Sigma Advisers LP raised its stake in Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after buying an additional 545,600 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at $17,468,000. Finally, Ikarian Capital LLC acquired a new position in Ultragenyx Pharmaceutical in the third quarter valued at $9,943,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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.