Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $15.84 and traded as high as $16.51. Ultragenyx Pharmaceutical shares last traded at $16.41, with a volume of 2,669,008 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 6th. TD Cowen boosted their price objective on Ultragenyx Pharmaceutical from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. UBS Group started coverage on Ultragenyx Pharmaceutical in a research note on Thursday, October 15th. They set a “neutral” rating and a $16.00 target price for the company. HC Wainwright dropped their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Finally, Guggenheim dropped their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.79.

Ultragenyx Pharmaceutical Stock Performance

The stock has a fifty day simple moving average of $15.84 and a 200-day simple moving average of $22.68. The stock has a market cap of $1.62 billion, a P/E ratio of -3.16 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06). The firm had revenue of $173.00 million during the quarter, compared to the consensus estimate of $182.49 million. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.81) EPS. On average, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.21 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the sale, the chief financial officer owned 89,229 shares in the company, valued at approximately $1,362,526.83. The trade was a 7.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 8,510 shares of company stock valued at $127,561. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently made changes to their positions in RARE. Versant Capital Management Inc boosted its holdings in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $48,000. Harbor Investment Advisory LLC bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $52,000. Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 1,440 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Ultragenyx Pharmaceutical in the second quarter valued at $62,000. 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 treatments for rare and ultra-rare genetic diseases. Founded in 2010 and headquartered in Novato, California, the company works on therapies for conditions with limited treatment options, including enzyme deficiencies and metabolic disorders.

Its marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Mepsevii (vestronidase alfa), for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), for long-chain fatty acid oxidation disorders.