Ultragenyx Pharmaceutical (NASDAQ:RARE) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Monday, MarketBeat.com reports. The firm issued an outperform rating and a $77.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. Wedbush reissued a neutral rating and issued a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research report on Monday, March 18th. Robert W. Baird lifted their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Cantor Fitzgerald reissued an overweight rating and set a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Finally, Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $90.33.

Ultragenyx Pharmaceutical Stock Up 3.1 %

NASDAQ:RARE opened at $43.69 on Monday. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -5.24 and a beta of 0.65. The company’s 50 day moving average price is $48.01 and its 200-day moving average price is $43.61. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.65) by $0.13. The business had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.16) EPS. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now owns 67,340 shares of the company’s stock, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock valued at $1,645,983 over the last quarter. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RARE. UMB Bank n.a. raised its position in shares of Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 329 shares during the last quarter. Covestor Ltd grew its stake in Ultragenyx Pharmaceutical by 392.1% during the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 596 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 865 shares during the last quarter. Van ECK Associates Corp lifted its stake in Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 3,182.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 1,623 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other 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.