Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $88.00 Consensus Price Target from Analysts

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $87.85.

A number of research analysts recently commented on the company. Royal Bank of Canada assumed coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price target for the company. Canaccord Genuity Group cut their target price on shares of Ultragenyx Pharmaceutical from $111.00 to $109.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Robert W. Baird raised their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Wedbush decreased their target price on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $43.01 on Friday. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The stock has a market cap of $3.57 billion, a P/E ratio of -5.36 and a beta of 0.68. The stock’s fifty day moving average is $47.10 and its 200 day moving average is $44.29.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The business had revenue of $108.83 million during the quarter, compared to analysts’ expectations of $116.03 million. Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.33) EPS. Analysts predict that Ultragenyx Pharmaceutical will post -6.38 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares in the company, valued at approximately $12,623,452.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the transaction, the executive vice president now 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 a total of 32,116 shares of company stock worth $1,645,983 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew its holdings 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. Van ECK Associates Corp raised its stake in Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System boosted its holdings in Ultragenyx Pharmaceutical by 2.2% in the third quarter. Arizona State Retirement System now owns 20,163 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 441 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Ultragenyx Pharmaceutical by 38.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 548 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Ultragenyx Pharmaceutical by 392.1% during the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.