Ultragenyx Pharmaceutical (NASDAQ:RARE) Downgraded to “Sell” at StockNews.com

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other equities research analysts also recently issued reports on RARE. Piper Sandler reduced their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $114.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 25th. HC Wainwright reiterated a “buy” rating and set a $82.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, August 1st. Wedbush reduced their price target on shares of Ultragenyx Pharmaceutical from $49.00 to $47.00 in a research report on Friday, August 4th. Finally, Morgan Stanley cut their price objective on Ultragenyx Pharmaceutical from $90.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $0.62 during midday trading on Monday, reaching $39.35. 603,654 shares of the company traded hands, compared to its average volume of 700,376. The firm’s 50 day simple moving average is $36.06 and its two-hundred day simple moving average is $41.51. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $54.98. The firm has a market cap of $3.23 billion, a PE ratio of -4.39 and a beta of 0.72.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 970 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $37.15, for a total value of $36,035.50. Following the completion of the transaction, the chief accounting officer now directly owns 23,777 shares in the company, valued at approximately $883,315.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 970 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $37.15, for a total value of $36,035.50. Following the completion of the transaction, the chief accounting officer now directly owns 23,777 shares in the company, valued at approximately $883,315.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 47,853 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $33.52, for a total transaction of $1,604,032.56. Following the sale, the chief executive officer now directly owns 599,743 shares of the company’s stock, valued at $20,103,385.36. The disclosure for this sale can be found here. In the last three months, insiders sold 96,864 shares of company stock worth $3,263,279. Insiders own 6.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently made changes to their positions in the stock. Sands Capital Management LLC purchased a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth $123,335,000. Norges Bank purchased a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth $33,526,000. BlackRock Inc. boosted its position in Ultragenyx Pharmaceutical by 12.4% during the 1st quarter. BlackRock Inc. now owns 4,873,356 shares of the biopharmaceutical company’s stock worth $195,422,000 after purchasing an additional 536,513 shares during the period. State Street Corp boosted its position in Ultragenyx Pharmaceutical by 26.1% during the 2nd quarter. State Street Corp now owns 2,457,308 shares of the biopharmaceutical company’s stock worth $146,603,000 after purchasing an additional 508,624 shares during the period. Finally, Wellington Management Group LLP boosted its position in Ultragenyx Pharmaceutical by 17.1% during the 1st quarter. Wellington Management Group LLP now owns 3,370,245 shares of the biopharmaceutical company’s stock worth $244,747,000 after purchasing an additional 492,842 shares during the period. 96.37% of the stock is owned by hedge funds and other institutional investors.

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.