HC Wainwright Lowers Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $60.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by equities researchers at HC Wainwright from $80.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 157.47% from the stock’s current price.

Several other equities analysts have also commented on RARE. Truist Financial decreased their price target on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wells Fargo & Company lowered their target price on shares of Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, December 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. Leerink Partners cut their target price on Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, December 30th. Finally, Jefferies Financial Group lowered their target price on Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, December 30th. Sixteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $72.29.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded down $0.30 during mid-day trading on Monday, hitting $23.30. The company’s stock had a trading volume of 1,928,026 shares, compared to its average volume of 2,738,872. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -3.95 and a beta of 0.15. Ultragenyx Pharmaceutical has a 1 year low of $18.41 and a 1 year high of $46.50. The business’s fifty day moving average is $32.82 and its two-hundred day moving average is $31.71.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.58). The firm had revenue of $159.93 million for the quarter, compared to analysts’ expectations of $167.42 million. Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.40) earnings per share. Analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Horn sold 3,081 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total transaction of $112,086.78. Following the sale, the chief financial officer owned 95,146 shares of the company’s stock, valued at approximately $3,461,411.48. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 11,108 shares of company stock valued at $365,262 over the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of RARE. Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at $35,765,000. Hsbc Holdings PLC increased its position in shares of Ultragenyx Pharmaceutical by 88.6% during the second quarter. Hsbc Holdings PLC now owns 97,197 shares of the biopharmaceutical company’s stock valued at $3,554,000 after acquiring an additional 45,665 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Ultragenyx Pharmaceutical by 108.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 67,720 shares of the biopharmaceutical company’s stock worth $2,462,000 after purchasing an additional 35,185 shares during the period. Frazier Life Sciences Management L.P. raised its position in Ultragenyx Pharmaceutical by 49.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 983,715 shares of the biopharmaceutical company’s stock worth $35,768,000 after acquiring an additional 325,000 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Ultragenyx Pharmaceutical by 27.2% in the 2nd quarter. Schroder Investment Management Group now owns 336,173 shares of the biopharmaceutical company’s stock worth $12,223,000 after purchasing an additional 71,888 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.