Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Climb 5.8% – Here’s Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price traded up 5.8% on Tuesday. The company traded as high as $15.15 and last traded at $15.25. 2,773,522 shares were traded during mid-day trading, an increase of 1% from the average session volume of 2,741,373 shares. The stock had previously closed at $14.41.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RARE shares. Guggenheim dropped their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley boosted their price objective on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 18th. Robert W. Baird downgraded shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $16.00 in a research report on Thursday, September 3rd. The Goldman Sachs Group dropped their target price on shares of Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Finally, Jefferies Financial Group cut their target price on shares of Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Hold” and a consensus target price of $34.58.

Ultragenyx Pharmaceutical Trading Down 1.8%

The firm has a market capitalization of $1.46 billion, a P/E ratio of -2.55 and a beta of 0.31. The stock has a 50 day simple moving average of $21.44 and a 200-day simple moving average of $24.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.17) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RARE. Versant Capital Management Inc increased its stake in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares in the last quarter. GAMMA Investing LLC lifted its position in Ultragenyx Pharmaceutical by 149.5% during the second quarter. GAMMA Investing LLC now owns 1,919 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 1,150 shares in the last quarter. Leonteq Securities AG lifted its position in Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares in the last quarter. Quantbot Technologies LP bought a new stake in Ultragenyx Pharmaceutical during the second quarter valued at about $48,000. Finally, Parallel Advisors LLC grew its holdings in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.