Ultragenyx Pharmaceutical’s (RARE) Neutral Rating Reaffirmed at Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $48.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $46.00. Wedbush’s price objective suggests a potential upside of 14.23% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. TD Cowen increased their price target 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. HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $88.62.

Ultragenyx Pharmaceutical Stock Down 0.1 %

Shares of RARE stock traded down $0.05 on Monday, hitting $42.02. The company had a trading volume of 219,553 shares, compared to its average volume of 1,097,906. The company has a 50-day moving average price of $46.09 and a 200-day moving average price of $49.63. The firm has a market cap of $3.88 billion, a P/E ratio of -6.49 and a beta of 0.58. Ultragenyx Pharmaceutical has a twelve month low of $37.02 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results 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 firm had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.23) EPS. Equities research analysts expect that Ultragenyx Pharmaceutical will post -6.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 294 shares in the last quarter. Nordea Investment Management AB raised its position in Ultragenyx Pharmaceutical by 8.9% in the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company’s stock valued at $1,658,000 after purchasing an additional 3,246 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 740.0% during the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after purchasing an additional 76,150 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth about $83,000. Finally, Geode Capital Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 4.4% in the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after buying an additional 65,623 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.