Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Upgraded by UBS Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) was upgraded by investment analysts at UBS Group to a “hold” rating in a report released on Wednesday, Zacks reports.

A number of other research firms have also recently weighed in on RARE. Barclays raised their price target on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $36.00 in a report on Thursday, September 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 6th. Cantor Fitzgerald raised their target price on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.65.

Ultragenyx Pharmaceutical Stock Down 4.2%

Ultragenyx Pharmaceutical stock traded down $0.63 during trading on Wednesday, reaching $14.54. The stock had a trading volume of 2,924,016 shares, compared to its average volume of 4,951,327. Ultragenyx Pharmaceutical has a 52-week low of $12.73 and a 52-week high of $39.89. The stock has a market cap of $1.43 billion, a PE ratio of -2.49 and a beta of 0.35. The business has a 50 day moving average price of $18.82 and a 200 day moving average price of $23.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the prior year, the company posted ($1.17) earnings per share. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its stake in Ultragenyx Pharmaceutical by 295.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 477,869 shares of the biopharmaceutical company’s stock worth $7,182,000 after buying an additional 357,005 shares during the last quarter. Versant Capital Management Inc lifted its stake in Ultragenyx Pharmaceutical by 121.9% in the third quarter. Versant Capital Management Inc now owns 2,556 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,404 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Ultragenyx Pharmaceutical in the second quarter valued at approximately $311,000. IFP Advisors Inc boosted its holdings in shares of Ultragenyx Pharmaceutical by 191.7% in the second quarter. IFP Advisors Inc now owns 2,313 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 1,520 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 130.9% in the second quarter. Allworth Financial LP now owns 4,699 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 2,664 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.