Canaccord Genuity Group Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by Canaccord Genuity Group from $109.00 to $121.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group increased their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. HC Wainwright raised their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wedbush lifted their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Ultragenyx Pharmaceutical Trading Down 3.2 %

Shares of RARE opened at $50.52 on Wednesday. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37. The stock has a market capitalization of $4.66 billion, a P/E ratio of -6.92 and a beta of 0.58. The business’s 50-day moving average price is $55.32 and its 200 day moving average price is $48.11.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the business earned ($2.23) earnings per share. The firm’s revenue was up 42.3% compared to the same quarter last year. On average, research analysts predict that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock worth $1,515,967 over the last three months. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $28,000. nVerses Capital LLC acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at $33,000. UMB Bank n.a. boosted its holdings in Ultragenyx Pharmaceutical by 58.1% in the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares during the period. Values First Advisors Inc. acquired a new stake in Ultragenyx Pharmaceutical in the 3rd quarter worth $56,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth about $107,000. 97.67% of the stock is owned by institutional investors.

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.