Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a moderately bullish view: Nineteen analysts give Ultragenyx Pharmaceutical an average “Moderate Buy” rating, including 15 buys and one strong buy. The average 12-month price target is $59.44 versus the stock’s $25.21 price.
• Institutional ownership is substantial: Hedge funds and other institutions own 97.67% of the company, with BlackRock initiating a stake worth approximately $355.7 million and several major investors increasing their holdings.
• Quarterly results exceeded expectations: Ultragenyx reported a narrower-than-expected loss of $0.90 per share and $214 million in revenue, up 28.5% year over year and above analysts’ $183.08 million estimate.

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $59.4444.

A number of equities analysts recently weighed in on RARE shares. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Guggenheim lowered their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, August 21st. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Finally, Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a report on Saturday, August 8th.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares of the company's stock, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth about $355,746,000. Vanguard Group Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company's stock valued at $236,068,000 after buying an additional 131,087 shares in the last quarter. State Street Corp lifted its stake in shares of Ultragenyx Pharmaceutical by 16.5% during the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company's stock valued at $98,970,000 after buying an additional 610,559 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Ultragenyx Pharmaceutical by 3,137.6% in the 2nd quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company's stock worth $113,129,000 after buying an additional 3,283,467 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Ultragenyx Pharmaceutical by 26.6% in the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company's stock worth $56,624,000 after buying an additional 516,781 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Down 1.6%

Ultragenyx Pharmaceutical stock opened at $25.21 on Tuesday. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89. The company's 50 day moving average price is $28.47 and its two-hundred day moving average price is $25.04. The stock has a market cap of $2.49 billion, a P/E ratio of -4.32 and a beta of 0.35.

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 (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same period in the prior year, the company posted ($1.17) earnings per share. Ultragenyx Pharmaceutical's quarterly revenue was up 28.5% on a year-over-year basis. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -3.97 EPS for the current year.

Ultragenyx Pharmaceutical Company Profile

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.

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