Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $109.00 at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective reduced by investment analysts at Canaccord Genuity Group from $111.00 to $109.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 154.02% from the company’s current price.

Other analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wedbush dropped their price objective on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.85.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $0.16 during trading hours on Monday, hitting $42.91. The stock had a trading volume of 524,266 shares, compared to its average volume of 764,703. The stock has a fifty day moving average price of $47.25 and a 200 day moving average price of $44.22. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98. The firm has a market capitalization of $3.57 billion, a PE ratio of -5.35 and a beta of 0.68.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The company had revenue of $108.83 million for the quarter, compared to the consensus estimate of $116.03 million. During the same period in the prior year, the firm posted ($2.33) EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Ultragenyx Pharmaceutical will post -6.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ultragenyx Pharmaceutical news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the sale, the director now directly owns 14,860 shares in the company, valued at $756,076.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,116 shares of company stock worth $1,645,983. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Covestor Ltd raised its holdings in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 596 shares during the period. UMB Bank n.a. raised its holdings in shares of Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 329 shares during the period. GAMMA Investing LLC grew its stake in Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Ultragenyx Pharmaceutical by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares in the last quarter. 97.67% of the stock is currently 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.