Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $72.2941.

Several equities analysts have recently weighed in on RARE shares. Guggenheim reduced their price target on Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Wells Fargo & Company cut their target price on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, December 30th. Leerink Partners decreased their price target on Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Truist Financial lowered 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. Finally, Barclays cut 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 report on Monday, November 24th.

Ultragenyx Pharmaceutical Stock Up 3.5%

NASDAQ RARE opened at $24.21 on Monday. The firm has a market cap of $2.34 billion, a P/E ratio of -4.08 and a beta of 0.15. The company’s 50 day moving average is $29.84 and its 200-day moving average is $30.30. Ultragenyx Pharmaceutical has a 12-month low of $18.41 and a 12-month high of $46.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $167.42 million. During the same quarter in the prior year, the firm posted ($1.40) earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 3,081 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $36.38, for a total value of $112,086.78. Following the transaction, the chief financial officer owned 95,146 shares of the company’s stock, valued at approximately $3,461,411.48. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Covestor Ltd raised its holdings in shares of Ultragenyx Pharmaceutical by 26.0% in the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 369 shares in the last quarter. Huntington National Bank increased its position in shares of 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 purchasing an additional 393 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Ultragenyx Pharmaceutical by 1.8% in the second quarter. Teacher Retirement System of Texas now owns 22,773 shares of the biopharmaceutical company’s stock valued at $828,000 after purchasing an additional 404 shares in the last quarter. Xponance Inc. lifted its position in Ultragenyx Pharmaceutical by 3.1% during the third quarter. Xponance Inc. now owns 13,494 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 406 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Ultragenyx Pharmaceutical by 2.3% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,988 shares of the biopharmaceutical company’s stock worth $690,000 after buying an additional 434 shares in the last quarter. 97.67% of the stock is currently 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.