Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised Ultragenyx Pharmaceutical’s price target to $35 from $32 and maintained an “overweight” rating, implying 141.21% potential upside from the previous close.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average target price of $34.58, with recent targets ranging from $20 to $39.
• Ultragenyx exceeded quarterly expectations, reporting an adjusted loss of $0.90 per share versus the $1.22 estimate and revenue of $214 million, up 28.5% year over year; however, the company remains unprofitable.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its target price raised by research analysts at Barclays from $32.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Barclays's target price indicates a potential upside of 141.21% from the company's previous close.

A number of other equities research analysts have also weighed in on RARE. Morgan Stanley lifted their price objective on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup lifted their price target on shares of Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Friday. Bank of America lowered Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating in a report on Thursday, September 3rd. Finally, Cantor Fitzgerald raised their price objective on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of "Hold" and a consensus target price of $34.58.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $14.51 on Monday. The stock's fifty day moving average is $23.88 and its two-hundred day moving average is $24.43. The company has a market capitalization of $1.43 billion, a PE ratio of -2.48 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52 week low of $12.73 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business's revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period last year, the company earned ($1.17) earnings per share. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 1,440 shares in the last quarter. Leonteq Securities AG boosted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 1,333 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 1,001 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 1,845 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $48,000. Institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company's work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx's marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.

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