Leerink Partners Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $70.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by Leerink Partners from $80.00 to $70.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on RARE. Wells Fargo & Company cut their price target on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. TD Cowen reduced their target price on Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Truist Financial lowered their price target on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $105.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $75.19.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $23.00 on Tuesday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -3.87 and a beta of 0.16. The stock has a fifty day moving average price of $33.02 and a two-hundred day moving average price of $31.88. Ultragenyx Pharmaceutical has a 52-week low of $18.41 and a 52-week high of $46.50.

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

Insider Activity at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 3,081 shares of Ultragenyx Pharmaceutical stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total transaction of $112,086.78. Following the transaction, the chief financial officer owned 95,146 shares in the company, valued at $3,461,411.48. The trade was a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 11,108 shares of company stock worth $365,262 over the last quarter. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the second quarter worth about $35,765,000. Hsbc Holdings PLC grew its stake in Ultragenyx Pharmaceutical by 88.6% in the second quarter. Hsbc Holdings PLC now owns 97,197 shares of the biopharmaceutical company’s stock valued at $3,554,000 after purchasing an additional 45,665 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Ultragenyx Pharmaceutical by 108.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 67,720 shares of the biopharmaceutical company’s stock worth $2,462,000 after purchasing an additional 35,185 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of Ultragenyx Pharmaceutical by 49.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 983,715 shares of the biopharmaceutical company’s stock worth $35,768,000 after purchasing an additional 325,000 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Ultragenyx Pharmaceutical by 27.2% in the 2nd quarter. Schroder Investment Management Group now owns 336,173 shares of the biopharmaceutical company’s stock valued at $12,223,000 after buying an additional 71,888 shares during the last quarter. 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.