Guggenheim Has Lowered Expectations for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price decreased by investment analysts at Guggenheim from $64.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s target price suggests a potential upside of 120.34% from the company’s previous close.

Other equities analysts have also issued research reports about the company. TD Cowen cut their target price on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Leerink Partners cut their price objective on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Barclays reduced their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, September 9th. Finally, Truist Financial cut their price target on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Sixteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $23.60 on Monday. The firm has a 50-day simple moving average of $32.82 and a 200-day simple moving average of $31.71. Ultragenyx Pharmaceutical has a one year low of $18.41 and a one year high of $46.50. The firm has a market cap of $2.28 billion, a P/E ratio of -3.97 and a beta of 0.15.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The business had revenue of $159.93 million during the quarter, compared to the consensus estimate of $167.42 million. During the same period last year, the firm earned ($1.40) EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts predict that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity

In related news, CFO Howard Horn sold 7,942 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $31.51, for a total transaction of $250,252.42. Following the completion of the sale, the chief financial officer owned 98,227 shares of the company’s stock, valued at $3,095,132.77. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 11,108 shares of company stock valued at $365,262 in the last three months. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 1,061.9% in the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 669 shares during the last quarter. Assetmark Inc. lifted its position in Ultragenyx Pharmaceutical by 1,706.7% during the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,024 shares during the period. Huntington National Bank lifted its position in Ultragenyx Pharmaceutical by 56.2% during the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 393 shares during the period. Danske Bank A S purchased a new stake in Ultragenyx Pharmaceutical in the third quarter valued at $39,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Ultragenyx Pharmaceutical in the second quarter valued at $55,000. 97.67% of the stock is owned by hedge funds and other 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.