Ultragenyx Pharmaceutical (NASDAQ:RARE) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other research firms have also recently weighed in on RARE. Morgan Stanley upped their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Wedbush cut their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Guggenheim decreased their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Ultragenyx Pharmaceutical from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $57.82.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $25.91 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of -4.44 and a beta of 0.35. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $39.89. The firm’s 50 day moving average price is $27.89 and its two-hundred day moving average price is $24.80.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.17) EPS. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -4.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shehnaaz Suliman sold 5,740 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the completion of the transaction, the director directly owned 27,951 shares of the company’s stock, valued at $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,292 shares of company stock worth $351,644 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $355,746,000. Pallas Capital Advisors LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $287,000. Deutsche Bank AG acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $5,503,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $348,000. Finally, Bank of New York Mellon Corp bought a new position in Ultragenyx Pharmaceutical during the second quarter worth about $15,717,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.