Ultragenyx Pharmaceutical (NASDAQ:RARE) Rating Lowered to Neutral at Robert W. Baird

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports. They presently have a $16.00 price target on the biopharmaceutical company’s stock. Robert W. Baird’s target price indicates a potential downside of 39.69% from the stock’s current price.

Several other brokerages also recently commented on RARE. Citigroup upped their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Wells Fargo & Company lowered Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a report on Thursday. Finally, Morgan Stanley raised their target price on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.53.

Ultragenyx Pharmaceutical Trading Up 2.8%

NASDAQ RARE opened at $26.53 on Thursday. The stock’s 50-day moving average price is $28.36 and its two-hundred day moving average price is $25.08. The company has a market cap of $2.62 billion, a PE ratio of -4.54 and a beta of 0.31. Ultragenyx Pharmaceutical has a 1 year low of $18.29 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same period in the prior year, the firm earned ($1.17) earnings per share. The business’s quarterly revenue was up 28.5% on a year-over-year basis. Research analysts forecast that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director owned 21,095 shares in the company, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the sale, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently bought and sold shares of RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 29,984 shares in the last quarter. Creative Planning acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $454,000. American Century Companies Inc. acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $366,000. M&T Bank Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 19.7% during the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock valued at $263,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Amundi raised its holdings in shares of Ultragenyx Pharmaceutical by 1,560.4% during the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock valued at $3,913,000 after purchasing an additional 93,189 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.