Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $47.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target increased by Wells Fargo & Company from $45.00 to $47.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial raised Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Canaccord Genuity Group decreased their price objective on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Wedbush decreased their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.41.

Ultragenyx Pharmaceutical Stock Down 0.0%

Shares of Ultragenyx Pharmaceutical stock opened at $26.12 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $18.29 and a 12 month high of $42.37. The business has a fifty day simple moving average of $22.68 and a 200 day simple moving average of $26.80. The stock has a market cap of $2.57 billion, a PE ratio of -4.27 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 2,272.48% and a negative net margin of 91.03%.The company had revenue of $136.00 million for the quarter, compared to analyst estimates of $158.19 million. During the same period last year, the firm earned ($1.57) earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that Ultragenyx Pharmaceutical will post -4.53 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 54,404 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $1,240,411.20. Following the completion of the transaction, the chief executive officer directly owned 658,994 shares of the company’s stock, valued at approximately $15,025,063.20. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erik Harris sold 10,539 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $240,289.20. Following the completion of the transaction, the executive vice president directly owned 89,515 shares of the company’s stock, valued at approximately $2,040,942. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 111,522 shares of company stock valued at $2,543,214. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 79.1% in the third quarter. Aquatic Capital Management LLC now owns 191,458 shares of the biopharmaceutical company’s stock valued at $5,759,000 after purchasing an additional 84,559 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $3,773,000. Aberdeen Group plc lifted its holdings in shares of Ultragenyx Pharmaceutical by 94.3% in the third quarter. Aberdeen Group plc now owns 973,656 shares of the biopharmaceutical company’s stock valued at $29,288,000 after purchasing an additional 472,600 shares in the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $2,083,000. Finally, WCM Investment Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 36.9% in the third quarter. WCM Investment Management LLC now owns 288,109 shares of the biopharmaceutical company’s stock valued at $8,747,000 after purchasing an additional 77,640 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.