Ultragenyx Pharmaceutical (NASDAQ:RARE) Rating Reiterated by Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating)‘s stock had its “buy” rating reissued by Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $90.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 116.87% from the company’s previous close.

RARE has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $82.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, December 30th. Cowen decreased their target price on shares of Ultragenyx Pharmaceutical from $86.00 to $65.00 in a research note on Thursday, November 3rd. Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $109.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Robert W. Baird upgraded shares of Ultragenyx Pharmaceutical from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $63.00 to $50.00 in a research report on Thursday, November 3rd. Finally, Credit Suisse Group reduced their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $96.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Ultragenyx Pharmaceutical Stock Down 2.6 %

Shares of NASDAQ:RARE opened at $41.50 on Wednesday. The firm’s 50 day moving average price is $41.06 and its 200-day moving average price is $45.20. Ultragenyx Pharmaceutical has a twelve month low of $33.36 and a twelve month high of $85.53. The stock has a market capitalization of $2.91 billion, a PE ratio of -4.26 and a beta of 1.01.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($2.43) earnings per share for the quarter, missing the consensus estimate of ($2.29) by ($0.14). Ultragenyx Pharmaceutical had a negative return on equity of 84.14% and a negative net margin of 197.47%. The business had revenue of $90.70 million during the quarter, compared to the consensus estimate of $98.76 million. Analysts expect that Ultragenyx Pharmaceutical will post -8.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 2,031 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $43.96, for a total transaction of $89,282.76. Following the completion of the transaction, the chief accounting officer now directly owns 16,197 shares of the company’s stock, valued at $712,020.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RARE. Signaturefd LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 151.0% during the third quarter. Signaturefd LLC now owns 600 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 361 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Ultragenyx Pharmaceutical during the third quarter valued at $27,000. High Net Worth Advisory Group LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 650.0% during the third quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,300 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 36.6% during the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 240 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 25.5% during the second quarter. Harbor Capital Advisors Inc. now owns 2,918 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 592 shares during the period. 93.17% of the stock is owned by hedge funds and other 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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