Barclays Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $43.00

Key Points

• Barclays cut its price target on Ultragenyx to $43.00 (from $44.00) but kept an "overweight" rating, implying roughly a 76.63% potential upside from the stock's current level.
• Multiple firms have lowered targets recently (e.g., Leerink, Baird, Jefferies, Wells Fargo), yet the consensus remains a "Moderate Buy" with an average target of $60.76 and the majority of analysts rating the stock a buy.
• Recent fundamentals show Q4 EPS of -$1.29 (missing estimates) while revenue rose to $207.3M (+25.5% YoY); insiders have sold about 109,556 shares (~$2.49M) in the past 90 days and institutions own ~97.7% of the stock.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price objective lowered by investment analysts at Barclays from $44.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Barclays's price objective would suggest a potential upside of 76.63% from the company's current price.

RARE has been the topic of several other reports. Leerink Partners reduced their target price on Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an "outperform" rating on the stock in a report on Tuesday, December 30th. Robert W. Baird lowered their price target on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an "outperform" rating for the company in a report on Tuesday, December 30th. Jefferies Financial Group dropped their price target on Ultragenyx Pharmaceutical from $114.00 to $63.00 and set a "buy" rating on the stock in a research report on Tuesday, December 30th. Wedbush reiterated a "neutral" rating and set a $25.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, February 17th. Finally, Wells Fargo & Company decreased their price objective on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.76.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE traded down $0.19 during trading hours on Wednesday, hitting $24.34. The stock had a trading volume of 401,185 shares, compared to its average volume of 2,250,804. Ultragenyx Pharmaceutical has a one year low of $18.29 and a one year high of $42.37. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -4.17 and a beta of 0.25. The business's 50 day moving average is $22.37 and its 200-day moving average is $27.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The firm had revenue of $207.28 million for the quarter, compared to the consensus estimate of $199.60 million. During the same period in the prior year, the business earned ($1.39) earnings per share. The company's revenue for the quarter was up 25.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -4.49 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 8,135 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $185,478.00. Following the transaction, the executive vice president owned 76,346 shares of the company's stock, valued at $1,740,688.80. The trade was a 9.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Horn sold 4,683 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $20.97, for a total value of $98,202.51. Following the sale, the chief financial officer owned 80,351 shares in the company, valued at approximately $1,684,960.47. This represents a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,556 shares of company stock valued at $2,490,138 in the last ninety days. Insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in RARE. Y Intercept Hong Kong Ltd acquired a new stake in Ultragenyx Pharmaceutical in the first quarter valued at $4,575,000. Leonteq Securities AG increased its stake 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. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Ultragenyx Pharmaceutical by 63.0% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 99,995 shares of the biopharmaceutical company's stock valued at $2,095,000 after purchasing an additional 38,666 shares during the period. OP Asset Management Ltd acquired a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at about $1,821,000. Finally, Assenagon Asset Management S.A. lifted its stake in Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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.