Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 8.4% – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price shot up 8.4% during trading on Wednesday . The company traded as high as $27.20 and last traded at $26.93. 224,685 shares changed hands during trading, a decline of 89% from the average session volume of 2,079,976 shares. The stock had previously closed at $24.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RARE shares. JPMorgan Chase & Co. decreased their price target on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Wedbush cut their price target on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Truist Financial upgraded shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. The Goldman Sachs Group downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their target price for the company from $61.00 to $25.00 in a research report on Tuesday, March 24th. Finally, Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.56.

Ultragenyx Pharmaceutical Stock Up 2.0%

The company has a market cap of $2.70 billion, a P/E ratio of -4.49 and a beta of 0.37. The firm’s 50 day moving average is $24.26 and its two-hundred day moving average is $24.86.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. During the same quarter in the previous year, the business posted ($1.57) EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,002 shares of company stock worth $575,039. 5.20% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently modified their holdings of RARE. Huntington National Bank grew its position in Ultragenyx Pharmaceutical by 56.2% in the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 393 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 1,706.7% in the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 1,024 shares during the period. Parallel Advisors LLC grew its position in Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,440 shares during the last quarter. Leonteq Securities AG boosted its stake in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares during the period. Finally, Danske Bank A S bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at $39,000. Institutional investors own 97.67% of the company’s stock.

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.