Guggenheim Reaffirms Buy Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report)'s stock had its "buy" rating restated by research analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They currently have a $64.00 price target on the biopharmaceutical company's stock. Guggenheim's price objective suggests a potential upside of 73.31% from the company's previous close.

Several other research analysts have also commented on RARE. Piper Sandler decreased their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. William Blair started coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Morgan Stanley upped their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.00.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $36.93 on Friday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -6.27 and a beta of 0.25. Ultragenyx Pharmaceutical has a 1-year low of $29.59 and a 1-year high of $60.37. The business has a 50 day moving average of $36.37 and a 200 day moving average of $39.79.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). The company had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 186.49% and a negative net margin of 93.04%. Ultragenyx Pharmaceutical's revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the firm earned ($2.03) earnings per share. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. Smartleaf Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the period. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 76.2% during the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 323 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $35,000. ANTIPODES PARTNERS Ltd bought a new position in Ultragenyx Pharmaceutical during the 1st quarter worth about $57,000. Finally, Headlands Technologies LLC purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at approximately $59,000. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.