Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Up – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price gapped up before the market opened on Monday . The stock had previously closed at $36.38, but opened at $39.00. Ultragenyx Pharmaceutical shares last traded at $37.3420, with a volume of 230,360 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RARE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, September 5th. Wells Fargo & Company started coverage on Ultragenyx Pharmaceutical in a report on Monday, October 20th. They set an “overweight” rating and a $65.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. Truist Financial decreased their price objective on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Barclays lowered their target price on Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.23.

Ultragenyx Pharmaceutical Trading Down 0.4%

The firm has a market capitalization of $3.50 billion, a P/E ratio of -6.11 and a beta of 0.16. The firm has a 50 day moving average price of $33.13 and a 200-day moving average price of $32.38.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. The company had revenue of $159.93 million for the quarter, compared to the consensus estimate of $167.42 million. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.40) EPS. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,942 shares of the stock in a transaction on Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the sale, the chief financial officer owned 98,227 shares of the company’s stock, valued at approximately $3,095,132.77. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the completion of the sale, the executive vice president owned 73,271 shares of the company’s stock, valued at $2,283,857.07. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,456 shares of company stock worth $328,486. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RARE. Danske Bank A S bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $39,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after acquiring an additional 1,864,164 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Ultragenyx Pharmaceutical by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 534 shares during the period. Voloridge Investment Management LLC purchased a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at $14,516,000. Finally, Vestal Point Capital LP bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at $22,560,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.