Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $61.00 at TD Cowen

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target boosted by investment analysts at TD Cowen from $59.00 to $61.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s price target would suggest a potential upside of 37.42% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada began coverage on shares of Ultragenyx Pharmaceutical in a report on Monday. They issued an “outperform” rating and a $77.00 price target on the stock. 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. Wedbush reissued a “neutral” rating and issued a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, April 16th. Finally, Robert W. Baird increased their price target on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Ultragenyx Pharmaceutical Price Performance

RARE traded down $0.72 during trading hours on Wednesday, reaching $44.39. 233,502 shares of the stock traded hands, compared to its average volume of 756,618. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -5.29 and a beta of 0.65. The firm’s fifty day simple moving average is $47.97 and its two-hundred day simple moving average is $43.74.

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

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the sale, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical 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 directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Insiders sold 32,116 shares of company stock worth $1,645,983 in the last 90 days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake 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 purchasing an additional 329 shares during the last quarter. Covestor Ltd raised its holdings in Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 596 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 622.3% in 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 period. Van ECK Associates Corp raised its stake in Ultragenyx Pharmaceutical by 34.0% during the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 400 shares during the period. Finally, International Assets Investment Management LLC raised its position in Ultragenyx Pharmaceutical by 3,182.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 1,623 shares during the period. 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.