Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading Up 7.2% – What’s Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares traded up 7.2% on Tuesday . The stock traded as high as $45.89 and last traded at $45.75. 173,408 shares traded hands during trading, a decline of 86% from the average session volume of 1,260,775 shares. The stock had previously closed at $42.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RARE shares. JPMorgan Chase & Co. decreased their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. TD Cowen raised their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.46.

Ultragenyx Pharmaceutical Trading Up 5.6 %

The firm has a 50 day moving average price of $46.74 and a 200 day moving average price of $49.53. The stock has a market capitalization of $4.16 billion, a PE ratio of -6.97 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the prior year, the company posted ($2.23) earnings per share. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. On average, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total transaction of $413,650.00. Following the transaction, the chief executive officer now owns 2,195,712 shares in the company, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,465 shares of company stock worth $1,302,735. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Ultragenyx Pharmaceutical by 8.9% during the 4th quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company’s stock valued at $1,658,000 after acquiring an additional 3,246 shares during the period. Principal Financial Group Inc. increased its stake in Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after buying an additional 76,150 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $83,000. Geode Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after buying an additional 65,623 shares during the period. Finally, M&T Bank Corp increased its position in shares of Ultragenyx Pharmaceutical by 8.1% during the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock worth $388,000 after acquiring an additional 525 shares during the period. 97.67% of the stock is owned by hedge funds and other 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.