Ultragenyx Pharmaceutical (NASDAQ:RARE) Sets New 12-Month Low – What’s Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $36.71 and last traded at $37.08, with a volume of 184337 shares trading hands. The stock had previously closed at $38.69.

Wall Street Analysts Forecast Growth

RARE has been the topic of several research reports. Piper Sandler reduced their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Wedbush reissued a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group upped their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.71.

Ultragenyx Pharmaceutical Stock Down 4.1 %

The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -5.85 and a beta of 0.67. The company has a 50 day simple moving average of $41.78 and a 200-day simple moving average of $47.15.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The company had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $3,091,571.40. Following the completion of the sale, the chief executive officer now owns 641,731 shares in the company, valued at $27,016,875.10. This represents a 10.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Richard Pinion sold 14,439 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $607,881.90. Following the transaction, the insider now owns 107,766 shares in the company, valued at approximately $4,536,948.60. This trade represents a 11.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,370 shares of company stock valued at $5,751,499. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in shares of Ultragenyx Pharmaceutical by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 78,051 shares of the biopharmaceutical company’s stock valued at $3,284,000 after purchasing an additional 268 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 294 shares during the period. Motley Fool Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 0.3% during the third quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock valued at $8,005,000 after acquiring an additional 360 shares in the last quarter. Finally, BOKF NA increased its holdings in Ultragenyx Pharmaceutical by 5.0% during the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company’s stock worth $336,000 after acquiring an additional 382 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.