Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $35.00 Price Target at Guggenheim

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by equities researchers at Guggenheim from $43.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price objective indicates a potential upside of 39.89% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald lifted their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wells Fargo & Company raised their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Barclays lowered their price target on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $57.94.

Ultragenyx Pharmaceutical Stock Up 0.4%

Shares of RARE opened at $25.02 on Tuesday. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $39.89. The stock has a market capitalization of $2.46 billion, a P/E ratio of -4.09 and a beta of 0.35. The company has a 50 day moving average of $27.71 and a 200-day moving average of $24.74.

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

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the sale, the director owned 21,095 shares in the company, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 4,653 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the sale, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,292 shares of company stock worth $351,644 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its holdings in Ultragenyx Pharmaceutical by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock worth $817,000 after acquiring an additional 534 shares during the period. Van ECK Associates Corp grew its stake in Ultragenyx Pharmaceutical by 26.1% during the third quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 549 shares during the period. Tidal Investments LLC increased its holdings in Ultragenyx Pharmaceutical by 4.7% in the second quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 564 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 0.4% during the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock worth $3,612,000 after buying an additional 577 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 751 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 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.