Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading 9.1% Higher – Here’s Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price rose 9.1% during mid-day trading on Wednesday . The company traded as high as $43.74 and last traded at $43.65. Approximately 208,892 shares traded hands during trading, a decline of 83% from the average daily volume of 1,206,187 shares. The stock had previously closed at $40.02.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. JPMorgan Chase & Co. dropped their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Wedbush reissued a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $92.29.

Ultragenyx Pharmaceutical Price Performance

The company has a market cap of $3.69 billion, a price-to-earnings ratio of -6.18 and a beta of 0.58. The stock has a 50 day simple moving average of $45.30 and a two-hundred day simple moving average of $49.52.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same quarter last year, the company earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% compared to the same quarter last year. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares during the period. Alkeon Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after purchasing an additional 545,600 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at $17,468,000. Finally, Ikarian Capital LLC bought a new stake in Ultragenyx Pharmaceutical in the third quarter valued at about $9,943,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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.