Barclays Trims Ultragenyx Pharmaceutical (NASDAQ:RARE) Target Price to $105.00

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) had its target price decreased by Barclays from $141.00 to $105.00 in a report published on Friday morning, The Fly reports.

RARE has been the subject of several other reports. StockNews.com downgraded Ultragenyx Pharmaceutical from a hold rating to a sell rating in a report on Tuesday, June 21st. The Goldman Sachs Group reduced their price objective on Ultragenyx Pharmaceutical from $139.00 to $101.00 and set a neutral rating for the company in a report on Tuesday, May 24th. Piper Sandler reduced their price objective on Ultragenyx Pharmaceutical from $135.00 to $130.00 and set an overweight rating for the company in a report on Thursday, July 28th. Cowen reduced their price objective on Ultragenyx Pharmaceutical from $124.00 to $99.00 in a report on Friday, May 6th. Finally, Cowen reduced their price objective on Ultragenyx Pharmaceutical from $124.00 to $99.00 in a report on Friday, May 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $104.69.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $50.63 on Friday. Ultragenyx Pharmaceutical has a 1-year low of $45.20 and a 1-year high of $104.38. The business has a fifty day moving average price of $55.06 and a 200-day moving average price of $63.75. The company has a market capitalization of $3.54 billion, a PE ratio of -6.92 and a beta of 1.22.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($2.26) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($0.54). Ultragenyx Pharmaceutical had a negative net margin of 151.34% and a negative return on equity of 57.22%. The company had revenue of $89.34 million for the quarter, compared to the consensus estimate of $87.33 million. During the same quarter in the previous year, the business earned ($1.45) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -7.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 12.4% during the 4th quarter. Victory Capital Management Inc. now owns 7,438 shares of the biopharmaceutical company’s stock valued at $625,000 after purchasing an additional 823 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Ultragenyx Pharmaceutical by 0.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 86,652 shares of the biopharmaceutical company’s stock valued at $7,287,000 after buying an additional 439 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 75.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,830 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 1,218 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Ultragenyx Pharmaceutical by 13.1% during the 4th quarter. Alliancebernstein L.P. now owns 1,308,156 shares of the biopharmaceutical company’s stock valued at $110,003,000 after buying an additional 152,002 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in shares of Ultragenyx Pharmaceutical by 13.0% during the 4th quarter. Virginia Retirement Systems ET AL now owns 13,900 shares of the biopharmaceutical company’s stock valued at $1,169,000 after buying an additional 1,600 shares in the last quarter. 97.49% of the stock is currently owned by institutional investors.

About Ultragenyx Pharmaceutical

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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, 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.

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