TD Cowen Raises Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $61.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective hoisted by TD Cowen from $59.00 to $61.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

RARE has been the topic of several other research reports. Wedbush restated a neutral rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Cantor Fitzgerald restated an overweight rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Canaccord Genuity Group upped their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a buy rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada started coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They set an outperform rating and a $77.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $88.08.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $44.24 on Wednesday. Ultragenyx Pharmaceutical has a 52-week low of $31.52 and a 52-week high of $54.98. The firm has a market capitalization of $3.64 billion, a PE ratio of -5.31 and a beta of 0.65. The business’s 50-day simple moving average is $47.89 and its 200 day simple moving average is $43.75.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The business had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. During the same quarter in the prior year, the company posted ($2.16) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 $4,799,047.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ultragenyx Pharmaceutical news, 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 value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock valued at $1,645,983 over the last 90 days. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock valued at $14,143,000 after purchasing an additional 19,487 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $2,745,000 after acquiring an additional 17,000 shares in the last quarter. CHI Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 152.9% during the 3rd quarter. CHI Advisors LLC now owns 215,000 shares of the biopharmaceutical company’s stock valued at $7,665,000 after acquiring an additional 130,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after acquiring an additional 214,666 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Ultragenyx Pharmaceutical by 6.8% during the 3rd quarter. Deutsche Bank AG now owns 947,732 shares of the biopharmaceutical company’s stock valued at $33,787,000 after acquiring an additional 60,001 shares in the last quarter. Institutional investors and hedge funds 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.