Wedbush Reaffirms Neutral Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Monday,Benzinga reports. They currently have a $48.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $46.00. Wedbush’s price objective indicates a potential upside of 14.23% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. Wells Fargo & Company raised their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE traded down $0.05 during trading on Monday, reaching $42.02. 219,553 shares of the company’s stock traded hands, compared to its average volume of 1,097,906. The company has a 50 day moving average of $46.09 and a 200-day moving average of $49.63. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37. The stock has a market capitalization of $3.88 billion, a P/E ratio of -6.49 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its 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. The company had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same period last year, the business posted ($2.23) earnings per share. Equities research analysts predict that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 294 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 0.3% in the third quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock valued at $8,005,000 after buying an additional 360 shares in the last quarter. KBC Group NV increased its position in shares of Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 506 shares in the last quarter. M&T Bank Corp lifted its position in Ultragenyx Pharmaceutical by 8.1% in the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 525 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Ultragenyx Pharmaceutical by 13.4% during the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 696 shares during the last quarter. Institutional investors and hedge funds 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.