Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Up – What’s Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) gapped up before the market opened on Monday . The stock had previously closed at $36.38, but opened at $39.00. Ultragenyx Pharmaceutical shares last traded at $37.3420, with a volume of 230,360 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on RARE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, October 8th. Barclays lowered their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Wells Fargo & Company assumed coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They set an “overweight” rating and a $65.00 target price on the stock. Truist Financial reduced their price target on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 9th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $80.23.

Ultragenyx Pharmaceutical Stock Down 0.1%

The firm has a market capitalization of $3.51 billion, a PE ratio of -6.12 and a beta of 0.16. The company’s 50-day simple moving average is $32.89 and its 200 day simple moving average is $32.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.The firm had revenue of $159.93 million for the quarter, compared to the consensus estimate of $167.42 million. During the same quarter last year, the firm earned ($1.40) EPS. The company’s revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,450 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the transaction, the executive vice president directly owned 73,271 shares of the company’s stock, valued at $2,283,857.07. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 7,942 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the completion of the sale, the chief financial officer owned 98,227 shares of the company’s stock, valued at approximately $3,095,132.77. This trade represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,456 shares of company stock valued at $328,486. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of Ultragenyx Pharmaceutical by 1,061.9% in the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 669 shares during the last quarter. Assetmark Inc. increased its stake in Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,024 shares in the last quarter. Huntington National Bank increased its stake in Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 393 shares in the last quarter. Danske Bank A S purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $39,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $55,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.