Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They presently have a $48.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 8.82% from the company’s previous close.

RARE has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective 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. Robert W. Baird increased their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Canaccord Genuity Group increased 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $91.55.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $44.11 on Tuesday. Ultragenyx Pharmaceutical has a 52-week low of $31.52 and a 52-week high of $54.98. The firm has a 50 day moving average price of $48.14 and a two-hundred day moving average price of $43.44. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -5.30 and a beta of 0.65.

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

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the firm’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 $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the transaction, the executive vice president now directly owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. Insiders have sold 31,974 shares of company stock worth $1,639,721 over the last ninety days. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its position in Ultragenyx Pharmaceutical by 40.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 49,537 shares of the biopharmaceutical company’s stock worth $2,313,000 after buying an additional 14,159 shares during the last quarter. Woodstock Corp lifted its holdings in Ultragenyx Pharmaceutical by 38.0% in the 1st quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company’s stock worth $519,000 after purchasing an additional 3,064 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $47,000 after purchasing an additional 865 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after purchasing an additional 1,440,264 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Ultragenyx Pharmaceutical by 19.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 32,910 shares of the biopharmaceutical company’s stock worth $1,574,000 after acquiring an additional 5,359 shares in the last quarter. 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.