Ultragenyx Pharmaceutical’s (RARE) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note released on Tuesday, Benzinga reports. Wedbush currently has a $48.00 price target on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other research reports. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a buy rating in a research note on Wednesday, February 21st. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research note on Monday, March 18th. Finally, Robert W. Baird raised their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $91.55.

Ultragenyx Pharmaceutical Stock Down 1.3 %

NASDAQ:RARE opened at $42.31 on Tuesday. The company has a market cap of $3.48 billion, a P/E ratio of -5.08 and a beta of 0.65. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The firm’s 50 day moving average is $48.22 and its two-hundred day moving average is $43.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. The company had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. Ultragenyx Pharmaceutical’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted ($2.16) earnings per share. Research analysts forecast that Ultragenyx Pharmaceutical will post -6.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the sale, the insider now owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The disclosure for this sale can be found here. Insiders have sold 31,974 shares of company stock valued at $1,639,721 in the last quarter. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 329 shares in the last quarter. Covestor Ltd grew its holdings in Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 596 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Ultragenyx Pharmaceutical by 36.6% during the 1st quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 240 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 865 shares in the last quarter. Finally, Comerica Bank grew its holdings in Ultragenyx Pharmaceutical by 24.7% during the 4th quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 264 shares in the last quarter. 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.