Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $35.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective upped by Barclays from $32.00 to $35.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

RARE has been the topic of several other research reports. Guggenheim lowered their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 18th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. TD Cowen lowered their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Hold” and a consensus target price of $34.58.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $14.88 on Monday. The firm has a market capitalization of $1.47 billion, a P/E ratio of -2.55 and a beta of 0.31. Ultragenyx Pharmaceutical has a one year low of $12.73 and a one year high of $39.89. The company has a fifty day moving average price of $22.84 and a 200-day moving average price of $24.29.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same quarter last year, the business posted ($1.17) earnings per share. The firm’s revenue was up 28.5% compared to the same quarter last year. On average, analysts expect that Ultragenyx Pharmaceutical will post -3.96 earnings per share for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at approximately $355,746,000. Assenagon Asset Management S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares during the period. Bank of America Corp DE purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $38,347,000. GW&K Investment Management LLC raised its holdings in Ultragenyx Pharmaceutical by 19.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock valued at $31,634,000 after buying an additional 225,238 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at $31,040,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.