Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a $111.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Wedbush reissued a neutral rating and set a $45.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, July 18th. Stifel Nicolaus lifted their target price on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a buy rating in a research note on Friday, May 31st. The Goldman Sachs Group raised Ultragenyx Pharmaceutical from a neutral rating to a buy rating and lifted their target price for the company from $56.00 to $67.00 in a research note on Thursday, June 6th. Bank of America reduced their price objective on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a buy rating on the stock in a research note on Friday, May 31st. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $115.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of Moderate Buy and an average target price of $86.50.

Ultragenyx Pharmaceutical Stock Down 0.4 %

NASDAQ RARE opened at $44.86 on Tuesday. The stock’s 50-day moving average price is $41.41 and its 200-day moving average price is $44.53. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.56. The company has a market capitalization of $3.73 billion, a P/E ratio of -5.59 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The business had revenue of $108.83 million for the quarter, compared to the consensus estimate of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted ($2.33) EPS. Research analysts anticipate that Ultragenyx Pharmaceutical will post -6.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $41.10, for a total transaction of $71,390.70. Following the completion of the sale, the director now directly owns 7,248 shares in the company, valued at approximately $297,892.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now directly owns 7,248 shares in the company, valued at $297,892.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total value of $441,270.00. Following the completion of the sale, the executive vice president now owns 57,981 shares of the company’s stock, valued at $2,609,145. The disclosure for this sale can be found here. Insiders sold 12,127 shares of company stock worth $536,593 in the last three months. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares during the last quarter. US Bancorp DE raised its stake in shares of Ultragenyx Pharmaceutical by 5.8% in the first quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 390 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock worth $284,000 after purchasing an additional 486 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Ultragenyx Pharmaceutical by 38.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 548 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other 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.