HC Wainwright Issues Pessimistic Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target decreased by research analysts at HC Wainwright from $50.00 to $25.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential downside of 5.77% from the company’s current price.

RARE has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wedbush reduced their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company cut shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a research report on Thursday. Cantor Fitzgerald boosted their target price on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Morgan Stanley increased their target price on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.53.

Ultragenyx Pharmaceutical Stock Up 2.8%

NASDAQ:RARE opened at $26.53 on Thursday. The company has a fifty day simple moving average of $28.36 and a two-hundred day simple moving average of $25.08. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -4.54 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period last year, the firm earned ($1.17) earnings per share. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. On average, analysts expect that Ultragenyx Pharmaceutical will post -3.97 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $39,000. Quantbot Technologies LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $48,000. Harbor Investment Advisory LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $52,000. Finally, Parallel Advisors LLC boosted its position 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 during the period. 97.67% of the stock is 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.