Ultragenyx Pharmaceutical (NASDAQ:RARE) Sets New 1-Year Low – Here’s Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares reached a new 52-week low during trading on Monday . The company traded as low as $13.80 and last traded at $13.8410, with a volume of 880219 shares changing hands. The stock had previously closed at $14.30.

Wall Street Analyst Weigh In

RARE has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. William Blair cut Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. The Goldman Sachs Group decreased their target price on shares of Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, September 4th. Royal Bank Of Canada lowered shares of Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Finally, Bank of America cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Ultragenyx Pharmaceutical Price Performance

The stock’s 50 day moving average is $25.96 and its two-hundred day moving average is $24.76. The stock has a market capitalization of $1.37 billion, a PE ratio of -2.38 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. The firm’s quarterly revenue was up 28.5% on a year-over-year basis. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.98 earnings per share for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares in the last quarter. Leonteq Securities AG raised its position in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,333 shares in the last quarter. Versant Capital Management Inc lifted its stake in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares during the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ultragenyx Pharmaceutical by 573.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 1,845 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.