Ultragenyx Pharmaceutical’s (RARE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report released on Thursday morning, Benzinga reports. They currently have a $77.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald restated an overweight rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Monday, September 16th. Robert W. Baird boosted their target price on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an outperform rating in a research report on Friday, May 31st. Wedbush boosted their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a neutral rating in a research report on Friday, August 2nd. 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 research report on Friday, May 31st. Finally, Barclays lowered their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an overweight rating for the company in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of Moderate Buy and an average target price of $87.43.

Ultragenyx Pharmaceutical Stock Down 1.4 %

Shares of Ultragenyx Pharmaceutical stock opened at $54.43 on Thursday. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $60.37. The company has a 50-day simple moving average of $53.28 and a two-hundred day simple moving average of $46.69. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -6.78 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.64) by $0.12. The company had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.25) EPS. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 40,675 shares of company stock valued at $2,149,446 in the last ninety days. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Ultragenyx Pharmaceutical by 513.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after purchasing an additional 424,476 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 13.3% in the 4th quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after purchasing an additional 25,144 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 0.7% in the 1st 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 last quarter. Rafferty Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 21.2% in the 4th quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after purchasing an additional 38,859 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after purchasing an additional 120,175 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

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.