Wells Fargo & Company Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $45.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price reduced by Wells Fargo & Company from $65.00 to $45.00 in a research report report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. TD Cowen decreased their target price on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $105.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $75.19.

Ultragenyx Pharmaceutical Trading Up 1.0%

Shares of RARE opened at $23.00 on Tuesday. The stock has a 50 day moving average of $33.02 and a 200 day moving average of $31.88. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -3.87 and a beta of 0.16. Ultragenyx Pharmaceutical has a 12 month low of $18.41 and a 12 month high of $46.50.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. The business had revenue of $159.93 million during the quarter, compared to the consensus estimate of $167.42 million. During the same quarter last year, the company earned ($1.40) EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities research analysts predict that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,942 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the transaction, the chief financial officer owned 98,227 shares of the company’s stock, valued at approximately $3,095,132.77. This represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 11,108 shares of company stock worth $365,262. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 1,061.9% during the second quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 669 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 1,024 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 393 shares during the last quarter. Danske Bank A S purchased a new position in Ultragenyx Pharmaceutical in the third quarter worth $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Ultragenyx Pharmaceutical in the second quarter valued at $55,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.