Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 1.9%

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $43.71 and last traded at $43.67. 27,646 shares were traded during trading, a decline of 96% from the average session volume of 752,133 shares. The stock had previously closed at $42.87.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Canaccord Genuity Group upped their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Wedbush reiterated a “neutral” rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.55.

Ultragenyx Pharmaceutical Stock Performance

The firm has a market capitalization of $3.63 billion, a P/E ratio of -5.30 and a beta of 0.65. The stock has a 50-day moving average of $48.14 and a 200 day moving average of $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm had revenue of $127.39 million for the quarter, compared to the consensus estimate of $119.38 million. During the same quarter in the prior year, the business earned ($2.16) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.36 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the transaction, the insider now owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the transaction, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,974 shares of company stock valued at $1,639,721. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RARE. Raymond James & Associates lifted its stake in shares of Ultragenyx Pharmaceutical by 46.0% in the 1st quarter. Raymond James & Associates now owns 13,882 shares of the biopharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 4,373 shares during the period. US Bancorp DE raised its stake in Ultragenyx Pharmaceutical by 14.6% during the 1st quarter. US Bancorp DE now owns 8,611 shares of the biopharmaceutical company’s stock worth $625,000 after buying an additional 1,097 shares during the period. Bank of Montreal Can raised its stake in Ultragenyx Pharmaceutical by 22.7% during the 1st quarter. Bank of Montreal Can now owns 40,319 shares of the biopharmaceutical company’s stock worth $2,927,000 after buying an additional 7,469 shares during the period. MetLife Investment Management LLC acquired a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth $252,000. Finally, Dimensional Fund Advisors LP raised its stake in Ultragenyx Pharmaceutical by 44.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 463,996 shares of the biopharmaceutical company’s stock worth $33,693,000 after buying an additional 141,945 shares during the period. 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.