Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Buy Rating from Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a report issued on Tuesday,Benzinga reports. They currently have a $121.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 148.41% from the company’s current price.

RARE has been the topic of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Barclays dropped their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. HC Wainwright boosted their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Trading Up 1.8 %

Shares of NASDAQ:RARE opened at $48.71 on Tuesday. Ultragenyx Pharmaceutical has a 52 week low of $36.51 and a 52 week high of $60.37. The company’s 50 day moving average is $54.64 and its two-hundred day moving average is $48.30. The company has a market cap of $4.50 billion, a PE ratio of -7.53 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. Ultragenyx Pharmaceutical’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period last year, the firm earned ($2.23) earnings per share. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.21 EPS for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,556 shares of company stock valued at $1,515,967. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after buying an additional 26,575 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after acquiring an additional 120,175 shares during the period. Clearbridge Investments LLC boosted its position in shares of Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after purchasing an additional 17,362 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after purchasing an additional 168,345 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.