Ultragenyx Pharmaceutical (NASDAQ:RARE) Reaches New 12-Month Low – Should You Sell?

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $35.53 and last traded at $36.21, with a volume of 958437 shares trading hands. The stock had previously closed at $37.82.

Wall Street Analyst Weigh In

RARE has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their target price on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Stock Up 4.5 %

The company has a fifty day simple moving average of $41.26 and a 200-day simple moving average of $46.37. The firm has a market cap of $3.32 billion, a P/E ratio of -5.58 and a beta of 0.61.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $3,091,571.40. Following the completion of the transaction, the chief executive officer now owns 641,731 shares of the company’s stock, valued at $27,016,875.10. This represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,643 shares of company stock worth $5,256,268 over the last three months. 5.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth $40,463,000. Vestal Point Capital LP increased its holdings in Ultragenyx Pharmaceutical by 100.0% in the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after acquiring an additional 750,000 shares during the last quarter. Deep Track Capital LP purchased a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth $27,493,000. Pictet Asset Management Holding SA boosted its holdings in shares of Ultragenyx Pharmaceutical by 125.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after purchasing an additional 653,088 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares in the last quarter. 97.67% of the stock is currently owned by 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.