Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading 7.2% Higher – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shot up 7.2% during trading on Tuesday . The stock traded as high as $45.89 and last traded at $45.75. 173,408 shares were traded during trading, a decline of 86% from the average session volume of 1,260,775 shares. The stock had previously closed at $42.66.

Wall Street Analyst Weigh In

RARE has been the topic of several recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. TD Cowen raised their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. Finally, Wells Fargo & Company raised their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Trading Up 5.6 %

The company’s 50-day simple moving average is $46.74 and its 200 day simple moving average is $49.53. The stock has a market cap of $4.16 billion, a P/E ratio of -6.97 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. The business 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 business’s revenue was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.23) earnings per share. Research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now directly 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 filing with the SEC, which is available at this link. Also, CEO Emil D. Kakkis sold 8,273 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares in the company, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,465 shares of company stock worth $1,302,735 in the last quarter. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RARE. True Wealth Design LLC bought a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $43,000. Values First Advisors Inc. bought a new stake in Ultragenyx Pharmaceutical in the third quarter worth $56,000. Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at about $83,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth about $93,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $107,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

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.