Wedbush Reiterates “Neutral” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Wedbush reiterated their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Monday morning,Benzinga reports. Wedbush currently has a $48.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $46.00.

A number of other analysts also recently weighed in on RARE. Wells Fargo & Company increased their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $40.98 on Monday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -6.33 and a beta of 0.58. The firm’s 50 day simple moving average is $45.49 and its 200 day simple moving average is $49.58. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same period last year, the company posted ($2.23) EPS. Equities research analysts expect that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total transaction of $413,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently made changes to their positions in the business. Alkeon Capital Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after acquiring an additional 769,884 shares in the last quarter. Millennium Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after buying an additional 109,567 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after buying an additional 65,623 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Ultragenyx Pharmaceutical by 16.9% in the second quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after buying an additional 164,110 shares in the last quarter. 97.67% of the stock is owned by 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.