Ultragenyx Pharmaceutical (NASDAQ:RARE) Reaches New 12-Month Low – Here’s Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $20.00 and last traded at $19.0140, with a volume of 541199 shares traded. The stock had previously closed at $34.19.

Wall Street Analyst Weigh In

A number of research analysts have commented on RARE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. TD Cowen dropped their price objective on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They set an “overweight” rating and a $65.00 price objective on the stock. Barclays decreased their target price on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.23.

Ultragenyx Pharmaceutical Stock Performance

The stock’s 50-day simple moving average is $33.95 and its two-hundred day simple moving average is $32.25. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -3.39 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data 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 business had revenue of $159.93 million during the quarter, compared to the consensus estimate of $167.42 million. During the same period in the prior year, the company posted ($1.40) earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,942 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $31.51, for a total transaction of $250,252.42. Following the transaction, the chief financial officer owned 98,227 shares in the company, valued at approximately $3,095,132.77. The trade was a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its stake in Ultragenyx Pharmaceutical by 614.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Ultragenyx Pharmaceutical by 81.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after buying an additional 965,919 shares during the period. Wellington Management Group LLP boosted its stake in Ultragenyx Pharmaceutical by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,945,129 shares of the biopharmaceutical company’s stock valued at $58,509,000 after buying an additional 73,309 shares in the last quarter. Geode Capital Management LLC raised its position in Ultragenyx Pharmaceutical by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,712,931 shares of the biopharmaceutical company’s stock worth $62,291,000 after purchasing an additional 66,394 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Ultragenyx Pharmaceutical by 3.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company’s stock worth $54,147,000 after buying an additional 55,611 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

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.