Ultragenyx Pharmaceutical’s (RARE) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a $121.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the company. Barclays reduced their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. HC Wainwright upped their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wells Fargo & Company upped their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, TD Cowen raised their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Trading Down 2.2 %

Shares of Ultragenyx Pharmaceutical stock opened at $47.64 on Tuesday. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The company has a market cap of $4.40 billion, a P/E ratio of -7.36 and a beta of 0.58. The company’s fifty day simple moving average is $54.64 and its two-hundred day simple moving average is $48.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter last year, the business posted ($2.23) EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. Analysts predict that Ultragenyx Pharmaceutical will post -6.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock worth $23,677,000 after acquiring an additional 424,476 shares during the last quarter. Clearbridge Investments LLC increased 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 valued at $112,096,000 after purchasing an additional 17,362 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Ultragenyx Pharmaceutical by 3.5% during the 1st 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 buying an additional 120,175 shares during the period. Vanguard Group Inc. lifted its position in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after buying an additional 26,575 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in Ultragenyx Pharmaceutical during the second quarter valued at $17,468,000. 97.67% of the stock is currently owned by institutional investors.

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.