Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Buy Rating from Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They presently have a $121.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 145.34% from the stock’s previous close.

RARE has been the topic of several other research reports. Wells Fargo & Company raised their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. HC Wainwright upped their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, TD Cowen boosted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Trading Down 2.8 %

Ultragenyx Pharmaceutical stock traded down $1.41 during mid-day trading on Tuesday, hitting $49.32. The company had a trading volume of 132,521 shares, compared to its average volume of 781,692. Ultragenyx Pharmaceutical has a 12 month low of $34.06 and a 12 month high of $60.37. The stock’s 50 day moving average price is $54.94 and its two-hundred day moving average price is $48.27. The company has a market capitalization of $4.55 billion, a PE ratio of -7.55 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same period last year, the business earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue was up 42.3% compared to the same quarter last year. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.21 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently modified their holdings of RARE. Vanguard Group Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after acquiring an additional 26,575 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after buying an additional 120,175 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after purchasing an additional 17,362 shares during the period. Federated Hermes Inc. lifted its stake in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after acquiring an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares in the last quarter. 97.67% of the stock is currently 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.