Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $50.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by Wells Fargo & Company from $46.00 to $50.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on RARE. Weiss Ratings raised Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Guggenheim dropped their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.44.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $25.61 on Friday. The business’s 50 day moving average is $28.55 and its two-hundred day moving average is $25.04. Ultragenyx Pharmaceutical has a 52-week low of $18.29 and a 52-week high of $39.89. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -4.39 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $183.08 million. During the same period last year, the business posted ($1.17) earnings per share. The company’s quarterly revenue was up 28.5% on a year-over-year basis. Analysts anticipate that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in RARE. Parallel Advisors LLC raised its holdings in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 1,440 shares in the last quarter. Leonteq Securities AG lifted its stake in Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,333 shares during the last quarter. Versant Capital Management Inc grew its holdings in Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,001 shares in the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 1,845 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.