Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has a $48.00 price objective on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a research report on Monday, March 18th. Cantor Fitzgerald reissued an overweight rating and set a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Finally, 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 report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $91.55.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $43.38 on Tuesday. The firm has a market cap of $3.57 billion, a PE ratio of -5.21 and a beta of 0.65. The firm’s 50 day simple moving average is $48.10 and its 200-day simple moving average is $43.44. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98.

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

Insider Transactions at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,974 shares of company stock valued at $1,639,721. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 329 shares during the period. Covestor Ltd boosted its holdings in Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 36.6% in the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 240 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 865 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Ultragenyx Pharmaceutical by 24.7% in the fourth quarter. Comerica Bank now owns 1,331 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 264 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.