Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $88.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by Wells Fargo & Company from $75.00 to $88.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on RARE. HC Wainwright increased their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen increased their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 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 price objective on shares of Ultragenyx Pharmaceutical in a 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.46.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $44.22 on Friday. The business has a 50-day moving average of $49.53 and a 200-day moving average of $49.36. Ultragenyx Pharmaceutical has a 1 year low of $37.02 and a 1 year high of $60.37. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -6.83 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $135.28 million. During the same period last year, the business posted ($2.23) EPS. The business’s revenue was up 42.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insider Activity

In other 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 value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 8,273 shares of the business’s 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 transaction, the chief executive officer now owns 2,195,712 shares in the company, valued at approximately $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Ultragenyx Pharmaceutical by 15.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,359 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 975 shares during the period. EFG Asset Management North America Corp. grew its position in Ultragenyx Pharmaceutical by 7.5% during the second quarter. EFG Asset Management North America Corp. now owns 125,561 shares of the biopharmaceutical company’s stock valued at $5,161,000 after buying an additional 8,725 shares during the period. UMB Bank n.a. increased its holdings in Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares during the last quarter. Peregrine Capital Management LLC raised its position in 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 acquiring an additional 29,474 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Ultragenyx Pharmaceutical by 63.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after acquiring an additional 323,280 shares during the period. 97.67% of the stock is owned by hedge funds and other 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.