Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $77.00 price target on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on RARE. Stifel Nicolaus upped their price objective on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a buy rating in a report on Friday, May 31st. Cantor Fitzgerald restated an overweight rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, September 16th. Bank of America lowered their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a buy rating for the company in a report on Friday, May 31st. Wedbush increased their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a neutral rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an overweight rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of Moderate Buy and an average price target of $87.43.

Ultragenyx Pharmaceutical Trading Down 1.4 %

RARE opened at $54.43 on Thursday. The company’s fifty day moving average price is $53.28 and its two-hundred day moving average price is $46.69. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $60.37. The company has a market cap of $5.02 billion, a price-to-earnings ratio of -6.78 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. During the same quarter in the prior year, the company posted ($2.25) earnings per share. The business’s revenue was up 35.7% on a year-over-year basis. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 40,675 shares of company stock worth $2,149,446. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. Norges Bank bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $36,846,000. Franklin Resources Inc. boosted its position in Ultragenyx Pharmaceutical by 13.3% during the fourth quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock worth $10,269,000 after purchasing an additional 25,144 shares during the period. TD Asset Management Inc boosted its position in Ultragenyx Pharmaceutical by 7.8% during the fourth quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock worth $10,585,000 after purchasing an additional 16,000 shares during the period. Treasurer of the State of North Carolina boosted its position in Ultragenyx Pharmaceutical by 17.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 34,853 shares of the biopharmaceutical company’s stock worth $1,667,000 after purchasing an additional 5,150 shares during the period. Finally, Sands Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 59.8% during the fourth quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after purchasing an additional 1,540,791 shares during the period. Institutional investors 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.