Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 7.2% – Still a Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) traded up 7.2% during trading on Tuesday . The stock traded as high as $45.89 and last traded at $45.75. 173,408 shares traded hands during trading, a decline of 86% from the average session volume of 1,260,775 shares. The stock had previously closed at $42.66.

Wall Street Analysts Forecast Growth

RARE has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Stock Performance

The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -6.75 and a beta of 0.58. The company has a 50 day moving average price of $46.58 and a two-hundred day moving average price of $49.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the prior year, the business posted ($2.23) earnings per share. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently modified their holdings of RARE. True Wealth Design LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth about $43,000. Values First Advisors Inc. acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $83,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $93,000. Finally, Capital Performance Advisors LLP purchased a new position in Ultragenyx Pharmaceutical during the third quarter worth approximately $107,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.