Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns “Outperform” Rating from Royal Bank of Canada

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They currently have a $77.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 54.96% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush raised their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright raised their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $111.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.92.

Ultragenyx Pharmaceutical Trading Down 4.8 %

Shares of NASDAQ:RARE traded down $2.49 on Wednesday, hitting $49.69. The company had a trading volume of 554,211 shares, compared to its average volume of 776,684. Ultragenyx Pharmaceutical has a 52-week low of $34.06 and a 52-week high of $60.37. The business has a 50 day moving average of $55.47 and a 200 day moving average of $48.09. The company has a market cap of $4.58 billion, a PE ratio of -6.81 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.23) earnings per share. As a group, equities analysts predict that Ultragenyx Pharmaceutical will post -6.29 EPS for the current year.

Insider Buying and Selling

In related news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now 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 filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on 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 directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock worth $1,515,967 in the last three months. 5.80% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 1,339 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth about $227,000. GSA Capital Partners LLP acquired a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth about $493,000. Duality Advisers LP lifted its position in shares of Ultragenyx Pharmaceutical by 1.5% in the first quarter. Duality Advisers LP now owns 39,977 shares of the biopharmaceutical company’s stock worth $1,867,000 after buying an additional 606 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Ultragenyx Pharmaceutical by 3.0% in the first quarter. Swiss National Bank now owns 145,852 shares of the biopharmaceutical company’s stock worth $6,810,000 after buying an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.