UBS Group Begins Coverage on Ultragenyx Pharmaceutical (NASDAQ:RARE)

Key Points

• UBS Group initiated coverage of Ultragenyx Pharmaceutical with a “neutral” rating and a $16 price target, implying approximately 7.4% upside from the reported share price.
• Analyst sentiment remains mixed but leans cautious: MarketBeat reports an overall “Hold” rating and an average price target of $33.65, with 11 Hold, 9 Buy, 1 Strong Buy and 1 Sell rating.
• Ultragenyx reported better-than-expected quarterly results, posting a $0.90 adjusted loss per share versus the $1.22 consensus loss and $214 million in revenue, up 28.5% year over year.

Equities research analysts at UBS Group started coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a "neutral" rating and a $16.00 price target on the biopharmaceutical company's stock. UBS Group's target price indicates a potential upside of 7.38% from the stock's current price.

Several other research analysts have also recently issued reports on RARE. Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Friday, September 18th. HC Wainwright reduced their target price on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. The Goldman Sachs Group decreased their target price on shares of Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, September 4th. Evercore cut shares of Ultragenyx Pharmaceutical from an "outperform" rating to an "in-line" rating and set a $16.00 price target on the stock. in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. cut shares of Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $80.00 to $36.00 in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $33.65.

Ultragenyx Pharmaceutical Stock Down 0.1%

Shares of Ultragenyx Pharmaceutical stock opened at $14.90 on Thursday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -2.55 and a beta of 0.35. Ultragenyx Pharmaceutical has a 52-week low of $12.73 and a 52-week high of $39.89. The company's 50-day simple moving average is $19.26 and its 200-day simple moving average is $23.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to analysts' expectations of $183.08 million. During the same period in the prior year, the firm posted ($1.17) EPS. Ultragenyx Pharmaceutical's revenue for the quarter was up 28.5% compared to the same quarter last year. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -3.95 EPS for the current year.

Institutional Trading of Ultragenyx Pharmaceutical

Several large investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,001 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ultragenyx Pharmaceutical by 149.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,919 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 1,150 shares in the last quarter. Leonteq Securities AG raised its position in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,333 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $48,000. Finally, Parallel Advisors LLC raised its position in shares of Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx's commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.

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