Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Moved Up to "Hold" by UBS Group

Key Points

• UBS upgraded Ultragenyx Pharmaceutical to “Hold,” while analysts remain divided. The stock has an overall “Hold” consensus rating and an average price target of $33.65.
• Shares fell 4.2% to $14.54, near the lower end of their 12-month range of $12.73 to $39.89. The stock is trading below both its 50-day and 200-day moving averages.
• Ultragenyx reported better-than-expected quarterly results, with an adjusted loss of $0.90 per share versus the $1.22 consensus estimate and revenue of $214 million, up 28.5% year over year. Institutional investors own 97.67% of the company’s shares.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) was upgraded by equities researchers at UBS Group to a "hold" rating in a research note issued to investors on Wednesday, Zacks reports.

Several other brokerages have also commented on RARE. Cantor Fitzgerald boosted their price target on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday, September 18th. Wedbush decreased their price objective on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, September 3rd. Citigroup lifted their target price on shares of Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, September 18th. JPMorgan Chase & Co. downgraded shares of Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $80.00 to $36.00 in a research report on Thursday, September 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $33.65.

Ultragenyx Pharmaceutical Trading Down 4.2%

RARE traded down $0.63 on Wednesday, reaching $14.54. The stock had a trading volume of 2,924,016 shares, compared to its average volume of 4,951,327. The business's 50-day moving average price is $18.82 and its two-hundred day moving average price is $23.56. The company has a market cap of $1.43 billion, a P/E ratio of -2.49 and a beta of 0.35. Ultragenyx Pharmaceutical has a 12-month low of $12.73 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate 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. Ultragenyx Pharmaceutical's revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.17) EPS. As a group, analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $355,746,000. Assenagon Asset Management S.A. boosted its stake in shares of Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock worth $47,298,000 after buying an additional 2,057,951 shares during the period. Bank of America Corp DE acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $38,347,000. Candriam S.C.A. lifted its stake in shares of Ultragenyx Pharmaceutical by 37.1% in the 1st quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company's stock worth $22,965,000 after acquiring an additional 296,798 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $31,040,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.