Brokerages Set Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Price Target at $87.00

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $87.00.

A number of research firms recently issued reports on RARE. Morgan Stanley boosted their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. William Blair began coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They set an “outperform” rating and a $65.00 target price on the stock. Guggenheim reiterated a “buy” rating and set a $64.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. JPMorgan Chase & Co. upped their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, March 17th.

Ultragenyx Pharmaceutical Stock Down 0.7%

Ultragenyx Pharmaceutical stock opened at $39.19 on Thursday. Ultragenyx Pharmaceutical has a 12-month low of $29.59 and a 12-month high of $60.37. The firm’s fifty day moving average is $36.72 and its 200 day moving average is $39.01. The company has a market capitalization of $3.71 billion, a PE ratio of -6.66 and a beta of 0.26.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The company had revenue of $139.29 million for the quarter, compared to analyst estimates of $145.98 million. During the same quarter in the previous year, the firm earned ($2.03) EPS. The firm’s revenue was up 28.0% on a year-over-year basis. Sell-side analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the transaction, the director owned 15,344 shares in the company, valued at approximately $573,712.16. This represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 3,167 shares of company stock worth $118,824 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the company. Deep Track Capital LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at about $27,493,000. Dark Forest Capital Management LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at about $459,000. First Light Asset Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company’s stock valued at $32,125,000 after purchasing an additional 8,505 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 13.5% in the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company’s stock valued at $1,001,000 after purchasing an additional 2,835 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock valued at $60,570,000 after purchasing an additional 269,733 shares during 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.