HC Wainwright Reiterates Buy Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $95.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 116.55% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Finally, TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $43.87 on Tuesday. The firm has a 50 day moving average price of $49.28 and a 200 day moving average price of $49.37. The stock has a market cap of $4.05 billion, a P/E ratio of -6.78 and a beta of 0.56. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating 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 business had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter in the prior year, the company earned ($2.23) EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. Analysts predict that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction dated 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 directly owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Ultragenyx Pharmaceutical by 58.1% in the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares in the last quarter. Motley Fool Asset Management LLC boosted 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. Arizona State Retirement System grew its position in Ultragenyx Pharmaceutical by 2.1% in the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares during the last quarter. KBC Group NV raised its stake in 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. Finally, M&T Bank Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 8.1% in 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 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.