Ultragenyx Pharmaceutical's (RARE) "Buy" Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $64.00 target price on the biopharmaceutical company's stock.

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

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded down $0.31 during trading on Friday, hitting $36.83. The stock had a trading volume of 771,588 shares, compared to its average volume of 837,199. The company has a market capitalization of $3.48 billion, a PE ratio of -6.26 and a beta of 0.25. The company's 50-day moving average price is $36.46 and its two-hundred day moving average price is $39.53. Ultragenyx Pharmaceutical has a 12 month low of $29.59 and a 12 month high of $60.37.

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

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the sale, the director now directly owns 15,344 shares in the company, valued at approximately $573,712.16. This represents a 13.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 3,167 shares of company stock worth $118,824. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently modified their holdings of RARE. Van ECK Associates Corp lifted its position in shares of Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 273 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Ultragenyx Pharmaceutical by 33.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 46,514 shares of the biopharmaceutical company's stock worth $1,957,000 after buying an additional 11,745 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 89,955 shares of the biopharmaceutical company's stock worth $3,784,000 after buying an additional 3,515 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Ultragenyx Pharmaceutical by 11.0% during the 4th quarter. Handelsbanken Fonder AB now owns 27,223 shares of the biopharmaceutical company's stock worth $1,145,000 after buying an additional 2,700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Ultragenyx Pharmaceutical by 39.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 26,695 shares of the biopharmaceutical company's stock worth $1,123,000 after buying an additional 7,544 shares during the last quarter. 97.67% of the stock is currently 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.