Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $47.00 by Analysts at Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target trimmed by Wedbush from $48.00 to $47.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on RARE. Robert W. Baird upped their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Cantor Fitzgerald reissued an overweight rating and set a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They issued an outperform rating and a $77.00 target price for the company. Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a buy rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $88.00.

Ultragenyx Pharmaceutical Trading Down 1.0 %

NASDAQ RARE traded down $0.45 on Friday, hitting $42.75. 1,143,019 shares of the company’s stock were exchanged, compared to its average volume of 786,481. The stock has a 50-day moving average of $47.25 and a 200-day moving average of $44.08. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -5.32 and a beta of 0.68. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The business had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. During the same period last year, the firm posted ($2.33) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Activity

In other news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now directly owns 14,860 shares of the company’s stock, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the transaction, the director now directly owns 14,860 shares of the company’s stock, valued at $756,076.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Covestor Ltd lifted its stake in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 596 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 329 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Ultragenyx Pharmaceutical by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 400 shares in the last quarter. 97.67% of the stock is owned by 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.