Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 9.1% – Still a Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price traded up 9.1% during trading on Wednesday . The stock traded as high as $43.74 and last traded at $43.65. 208,892 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,206,187 shares. The stock had previously closed at $40.02.

Analyst Ratings Changes

A number of research firms recently commented on RARE. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wedbush restated a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday. JPMorgan Chase & Co. cut their target price 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. Finally, Piper Sandler increased their price target on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.29.

Ultragenyx Pharmaceutical Stock Performance

The company has a market capitalization of $3.90 billion, a P/E ratio of -6.53 and a beta of 0.58. The company has a 50-day simple moving average of $45.69 and a 200 day simple moving average of $49.64.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) 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 business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the firm posted ($2.23) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 42.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

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