Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Royal Bank of Canada

Analysts at Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $77.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 70.69% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. boosted their price objective 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. 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. Finally, Robert W. Baird boosted their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.33.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $45.11 on Monday. The firm has a market cap of $3.71 billion, a PE ratio of -5.42 and a beta of 0.65. The firm’s 50 day moving average price is $47.95 and its 200 day moving average price is $43.68. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.65) by $0.13. The firm 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 revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned ($2.16) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew K. Fust sold 12,195 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now directly owns 14,860 shares in the company, valued at approximately $756,076.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. RTW Investments LP grew its holdings in shares of Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock worth $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ultragenyx Pharmaceutical by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock worth $185,233,000 after purchasing an additional 18,359 shares during the last quarter. Sands Capital Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 59.8% in the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after purchasing an additional 1,540,791 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 11.4% in the 4th quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company’s stock worth $116,992,000 after purchasing an additional 250,000 shares during the last quarter. 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.