Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $47.00 by Analysts at Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price decreased by Wedbush from $48.00 to $47.00 in a research note released on Friday morning, Benzinga reports. Wedbush currently has a neutral rating on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. TD Cowen lifted their price objective on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research report on Monday, March 18th. Royal Bank of Canada began coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They issued an outperform rating and a $77.00 price target on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $87.85.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $43.01 on Friday. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $54.98. The stock has a fifty day simple moving average of $47.10 and a 200 day simple moving average of $44.29.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data 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). Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The company had revenue of $108.83 million for the quarter, compared to the consensus estimate of $116.03 million. During the same quarter last year, the business earned ($2.33) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Ultragenyx Pharmaceutical will post -6.38 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Matthew K. Fust sold 12,195 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the transaction, the director now directly owns 14,860 shares in the company, valued at $756,076.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,116 shares of company stock worth $1,645,983. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its position in Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 596 shares during the last quarter. UMB Bank n.a. grew its position in Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 329 shares during the period. GAMMA Investing LLC increased its holdings in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 865 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Ultragenyx Pharmaceutical by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 903 shares during the period. Finally, Van ECK Associates Corp raised its position 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 worth $75,000 after acquiring an additional 400 shares during the period. 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.