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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective decreased by analysts at Barclays from $35.00 to $32.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price target would suggest a potential upside of 107.39% from the stock’s current price.

RARE has been the topic of several other research reports. UBS Group began coverage on shares of Ultragenyx Pharmaceutical in a research note on Thursday, October 15th. They issued a “neutral” rating and a $16.00 price target on the stock. William Blair upgraded shares of Ultragenyx Pharmaceutical to a “hold” rating in a research note on Wednesday, September 23rd. Wedbush reduced their target price on shares of Ultragenyx Pharmaceutical from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 target price on the stock. in a research report on Thursday, September 3rd. Finally, TD Cowen lifted their price target on shares of Ultragenyx Pharmaceutical from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Hold” and an average target price of $29.79.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded down $0.14 during mid-day trading on Thursday, hitting $15.43. The company’s stock had a trading volume of 4,049,110 shares, compared to its average volume of 3,379,657. The company has a 50 day moving average of $16.02 and a 200-day moving average of $22.71. Ultragenyx Pharmaceutical has a one year low of $12.73 and a one year high of $39.89. The stock has a market cap of $1.52 billion, a PE ratio of -2.97 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.06). The firm had revenue of $173.00 million during the quarter, compared to analyst estimates of $182.49 million. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted ($1.81) EPS. On average, equities research analysts forecast that Ultragenyx Pharmaceutical will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $15.27, for a total transaction of $107,897.82. Following the transaction, the chief financial officer directly owned 89,229 shares in the company, valued at $1,362,526.83. This represents a 7.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 8,510 shares of company stock valued at $127,561 over the last ninety days. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RARE. Parallel Advisors LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 102.4% during the third quarter. Sterling Capital Management LLC now owns 2,475 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,252 shares in the last quarter. Leonteq Securities AG boosted its stake in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares in the last quarter. Versant Capital Management Inc increased its holdings in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,001 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 1,845 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

More Ultragenyx Pharmaceutical News

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: The UK medicines regulator has accepted Ultragenyx’s marketing application for rebi-vec (UX111), its gene therapy for Sanfilippo syndrome Type A, and is reviewing it. This is a step toward a possible UK authorization, but the therapy remains investigational and has not been approved. Company announcement
• Positive Sentiment: H.C. Wainwright and TD Cowen both reiterated Buy ratings, signaling that these analysts see potential despite recent price-target reductions. H.C. Wainwright rating TD Cowen rating
• Negative Sentiment: Several firms have lowered their price targets, reflecting more restrained expectations. Canaccord cut its target from $39 to $34, Citi reduced its target from $32 to $22, and Barclays lowered its target from $35 to $32; all retained Buy or Overweight ratings. The revisions may weigh on sentiment even as analysts remain positive on the shares. Canaccord target revision Citi target revision

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.