Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns Buy Rating from HC Wainwright

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $95.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 116.55% from the stock’s current price.

Several other equities research analysts have also recently weighed in on RARE. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $88.46.

Ultragenyx Pharmaceutical Stock Down 0.8 %

Shares of RARE opened at $43.87 on Tuesday. The business has a 50-day simple moving average of $49.28 and a two-hundred day simple moving average of $49.37. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The stock has a market cap of $4.05 billion, a PE ratio of -6.78 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm 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 company posted ($2.23) EPS. The business’s revenue was up 42.3% on a year-over-year basis. On average, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated 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 owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 8,273 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,195,712 shares in the company, valued at approximately $109,785,600. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings in Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares in the last quarter. Peregrine Capital Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 24.7% in the second quarter. Peregrine Capital Management LLC now owns 148,813 shares of the biopharmaceutical company’s stock worth $6,116,000 after purchasing an additional 29,474 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Ultragenyx Pharmaceutical by 63.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock valued at $34,128,000 after buying an additional 323,280 shares during the period. Pinnacle Associates Ltd. grew its position in Ultragenyx Pharmaceutical by 34.9% during the second quarter. Pinnacle Associates Ltd. now owns 161,020 shares of the biopharmaceutical company’s stock worth $6,618,000 after buying an additional 41,633 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth about $33,000. 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.