Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives New Coverage from Analysts at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $77.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 81.73% from the company’s previous close.

A number of other equities research analysts have also recently commented on RARE. Robert W. Baird lifted their price target on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Wedbush reiterated a “neutral” rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Canaccord Genuity Group lifted their price objective 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 reiterated an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.33.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $42.37 on Monday. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The company has a market cap of $3.49 billion, a PE ratio of -5.09 and a beta of 0.65. The stock has a 50-day moving average of $48.01 and a 200-day moving average of $43.55.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The firm had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. During the same quarter last year, the firm earned ($2.16) EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Analysts expect that Ultragenyx Pharmaceutical will post -6.36 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now directly owns 14,860 shares of the company’s stock, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now directly owns 14,860 shares of the company’s stock, valued at approximately $756,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical 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 sale, 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. In the last ninety days, insiders sold 32,116 shares of company stock valued at $1,645,983. Insiders own 6.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in Ultragenyx Pharmaceutical by 3.5% in the fourth quarter. US Bancorp DE now owns 6,753 shares of the biopharmaceutical company’s stock worth $323,000 after purchasing an additional 227 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 36.6% in the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 240 shares during the last quarter. Comerica Bank lifted its stake in Ultragenyx Pharmaceutical by 24.7% in the fourth quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 264 shares during the last quarter. UMB Bank n.a. lifted its stake in Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Ultragenyx Pharmaceutical by 1.2% in the second quarter. Treasurer of the State of North Carolina now owns 29,553 shares of the biopharmaceutical company’s stock worth $1,363,000 after purchasing an additional 360 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

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.