Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading 8.4% Higher – Should You Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price was up 8.4% during mid-day trading on Wednesday . The stock traded as high as $27.20 and last traded at $26.93. Approximately 224,685 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,079,976 shares. The stock had previously closed at $24.85.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RARE shares. Wedbush decreased their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group lowered shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $61.00 to $25.00 in a research note on Tuesday, March 24th. Wells Fargo & Company increased their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald increased their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Guggenheim decreased their price target on shares of Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $59.56.

Ultragenyx Pharmaceutical Trading Up 10.9%

The company’s 50 day moving average is $24.09 and its 200-day moving average is $24.96. The company has a market capitalization of $2.71 billion, a P/E ratio of -4.50 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.57) earnings per share. Analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’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 approximately $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.12, for a total transaction of $144,188.80. Following the sale, the director owned 27,951 shares of the company’s stock, valued at approximately $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,002 shares of company stock valued at $575,039 in the last quarter. 5.20% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Ultragenyx Pharmaceutical by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock valued at $236,068,000 after purchasing an additional 131,087 shares in the last quarter. State Street Corp increased its stake in Ultragenyx Pharmaceutical by 16.5% during the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock valued at $98,970,000 after purchasing an additional 610,559 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Ultragenyx Pharmaceutical by 26.6% during the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock valued at $56,624,000 after acquiring an additional 516,781 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after acquiring an additional 2,057,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

About Ultragenyx Pharmaceutical

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.