Ultragenyx Pharmaceutical (NASDAQ:RARE – Free Report) had its price objective increased by Piper Sandler from $135.00 to $140.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.
A number of other analysts have also weighed in on RARE. Wells Fargo & Company increased their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Wedbush reiterated a “neutral” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.29.
Read Our Latest Stock Analysis on Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Trading Up 2.4 %
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.23) EPS. On average, sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ultragenyx Pharmaceutical
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $43,000. Values First Advisors Inc. purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $56,000. Wilmington Savings Fund Society FSB purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $83,000. Nomura Asset Management Co. Ltd. purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $93,000. Finally, Capital Performance Advisors LLP purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $107,000. 97.67% of the stock is owned by hedge funds and other institutional investors.
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.
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