Barclays Raises Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $35.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target lifted by Barclays from $32.00 to $35.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price suggests a potential upside of 124.22% from the company’s current price.

RARE has been the subject of several other research reports. Bank of America cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. Guggenheim reduced their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Cantor Fitzgerald lifted their price target on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, September 18th. TD Cowen reduced their target price on Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group upped their target price on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.58.

Ultragenyx Pharmaceutical Trading Up 6.6%

NASDAQ:RARE opened at $15.61 on Monday. The company has a market cap of $1.54 billion, a P/E ratio of -2.67 and a beta of 0.31. Ultragenyx Pharmaceutical has a twelve month low of $12.73 and a twelve month high of $39.89. The company’s 50-day moving average price is $23.18 and its 200-day moving average price is $24.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $183.08 million. During the same quarter in the prior year, the company earned ($1.17) EPS. Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. On average, analysts expect that Ultragenyx Pharmaceutical will post -3.96 earnings per share for the current year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the last quarter. Leonteq Securities AG increased its stake in Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,001 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 1,845 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Ultragenyx Pharmaceutical in the second quarter valued at about $48,000. 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.