Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by analysts at Canaccord Genuity from $85.00 to $91.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity's price target points to a potential upside of 7.83% from the company's current price.
A number of other brokerages have also recently commented on RARE. Credit Suisse Group increased their target price on Ultragenyx Pharmaceutical from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $79.00 to $83.00 and gave the stock an "overweight" rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical from a "hold" rating to a "buy" rating and set a $61.00 price target for the company in a report on Thursday, April 16th. Wedbush raised their price target on Ultragenyx Pharmaceutical from $83.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. The stock presently has an average rating of "Buy" and an average target price of $80.00.
NASDAQ:RARE traded down $0.26 during midday trading on Thursday, hitting $84.39. The stock had a trading volume of 5,189 shares, compared to its average volume of 571,925. The company has a quick ratio of 4.49, a current ratio of 4.54 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -11.38 and a beta of 2.28. The stock has a 50-day moving average of $71.73 and a 200 day moving average of $57.47. Ultragenyx Pharmaceutical has a one year low of $31.99 and a one year high of $85.50.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.91) earnings per share for the quarter, missing the Zacks' consensus estimate of ($1.68) by ($0.23). Ultragenyx Pharmaceutical had a negative return on equity of 60.65% and a negative net margin of 348.78%. The business had revenue of $36.31 million during the quarter, compared to analyst estimates of $36.74 million. During the same period in the previous year, the business earned ($1.82) EPS. The firm's revenue for the quarter was up 99.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.43 earnings per share for the current fiscal year.
In other news, SVP Theodore Alan Huizenga sold 2,461 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $71.00, for a total transaction of $174,731.00. Following the completion of the transaction, the senior vice president now owns 18,719 shares of the company's stock, valued at $1,329,049. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 1,875 shares of the company's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $65.00, for a total transaction of $121,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,555 shares of company stock worth $1,942,395. Company insiders own 8.20% of the company's stock.
A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Ultragenyx Pharmaceutical by 1,976.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 706 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 672 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $39,000. Advisor Group Holdings Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth approximately $43,000. First Mercantile Trust Co. increased its stake in Ultragenyx Pharmaceutical by 14.5% in the 1st quarter. First Mercantile Trust Co. now owns 2,161 shares of the biopharmaceutical company's stock valued at $96,000 after buying an additional 274 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 189.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,248 shares of the biopharmaceutical company's stock valued at $100,000 after buying an additional 1,471 shares during the period. 99.91% of the stock is owned by institutional investors and hedge funds.
Ultragenyx Pharmaceutical Company Profile
Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.
Read More: SEC Filing
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 [email protected]
6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.
None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.
These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.
View the "6 Stocks That Will Benefit From a Dovish Federal Reserve".