Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Down to $47.00

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $47.00, but opened at $44.54. Ultragenyx Pharmaceutical shares last traded at $43.99, with a volume of 328,367 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on RARE. Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wedbush restated a “neutral” rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday. Robert W. Baird raised their price target on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.55.

Ultragenyx Pharmaceutical Price Performance

The stock’s 50 day simple moving average is $48.22 and its 200-day simple moving average is $43.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.65) by $0.13. The firm had revenue of $127.39 million during the quarter, compared to analysts’ expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.16) earnings per share. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.36 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $201,922.56. Following the completion of the sale, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at $3,620,198.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,974 shares of company stock worth $1,639,721. 6.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Ultragenyx Pharmaceutical by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. RTW Investments LP raised its stake in Ultragenyx Pharmaceutical by 27.4% during the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Wellington Management Group LLP raised its stake in Ultragenyx Pharmaceutical by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock valued at $185,233,000 after purchasing an additional 18,359 shares during the last quarter. BlackRock Inc. raised its stake in Ultragenyx Pharmaceutical by 4.0% during the 2nd quarter. BlackRock Inc. now owns 5,067,027 shares of the biopharmaceutical company’s stock valued at $233,742,000 after purchasing an additional 193,671 shares during the last quarter. Finally, Sands Capital Management LLC raised its stake in Ultragenyx Pharmaceutical by 59.8% during the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after purchasing an additional 1,540,791 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

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.