TD Cowen Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $61.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by TD Cowen from $59.00 to $61.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective indicates a potential upside of 39.11% from the company’s current price.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Robert W. Baird upped their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a research note on Monday. They issued an “outperform” rating and a $77.00 target price on the stock. Finally, Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.08.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $43.85 on Wednesday. The business’s 50 day simple moving average is $47.94 and its 200-day simple moving average is $43.75. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -5.26 and a beta of 0.65. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The business had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. During the same quarter in the previous year, the company earned ($2.16) EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now directly owns 14,860 shares in the company, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 in the last ninety days. Insiders own 6.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd increased its holdings in Ultragenyx Pharmaceutical by 392.1% in the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares in the last quarter. UMB Bank n.a. increased its holdings in Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Ultragenyx Pharmaceutical by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 400 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.