Ultragenyx Pharmaceutical (NASDAQ:RARE) Downgraded by Wells Fargo & Company to “Equal Weight”

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Thursday, Briefing.com reports. They currently have a $18.00 price objective on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 32.15% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Citigroup lifted their target price on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Cantor Fitzgerald upped their price objective on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Guggenheim cut their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.53.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $26.53 on Thursday. The firm has a 50 day simple moving average of $28.36 and a 200 day simple moving average of $25.08. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89. The company has a market cap of $2.62 billion, a PE ratio of -4.54 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.17) earnings per share. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares in the company, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Corient Private Wealth LP boosted its position in shares of Ultragenyx Pharmaceutical by 7.3% in the second quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company’s stock valued at $4,891,000 after acquiring an additional 9,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at $1,036,000. California State Teachers Retirement System grew its position in Ultragenyx Pharmaceutical by 3,137.6% in the 2nd quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock worth $113,129,000 after purchasing an additional 3,283,467 shares during the last quarter. denkapparat Operations GmbH acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth about $230,000. Finally, Nykredit A S acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $154,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.