Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $81.00 Price Target at Barclays

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by Barclays from $83.00 to $81.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on RARE. Stifel Nicolaus upped their target price on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a buy rating in a research report on Friday, May 31st. Wedbush increased their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a neutral rating in a report on Friday, August 2nd. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They issued an outperform rating and a $77.00 price objective for the company. Robert W. Baird increased their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an outperform rating in a report on Friday, May 31st. Finally, TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a buy rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Trading Down 1.7 %

NASDAQ RARE opened at $48.94 on Monday. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.56. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -6.09 and a beta of 0.56. The company has a 50-day moving average price of $42.60 and a two-hundred day moving average price of $44.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 392.36%. The firm had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the prior year, the firm earned ($2.25) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.45 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,243,985 shares of the company’s stock, valued at $112,580,727.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total value of $1,003,400.00. Following the completion of the sale, the chief executive officer now owns 2,243,985 shares in the company, valued at approximately $112,580,727.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the completion of the sale, the director now owns 7,248 shares of the company’s stock, valued at approximately $297,892.80. The disclosure for this sale can be found here. Insiders sold a total of 32,127 shares of company stock valued at $1,539,993 over the last ninety days. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently made changes to their positions in RARE. Headlands Technologies LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $28,000. nVerses Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $33,000. UMB Bank n.a. increased its stake in Ultragenyx Pharmaceutical by 58.1% in the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares during the period. GAMMA Investing LLC increased its stake 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 buying an additional 865 shares during the period. Finally, Van ECK Associates Corp increased 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 valued at $75,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors 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.