Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Increased to $61.00 by Analysts at TD Cowen

Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) had its target price boosted by TD Cowen from $59.00 to $61.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company's stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated an overweight rating and set a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Royal Bank of Canada started coverage on Ultragenyx Pharmaceutical in a research report on Monday. They set an outperform rating and a $77.00 target price for the company. Canaccord Genuity Group raised their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Wedbush restated a neutral rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Finally, Robert W. Baird upped their price objective on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $88.08.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $0.83 during mid-day trading on Wednesday, reaching $44.28. The company had a trading volume of 668,679 shares, compared to its average volume of 762,351. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -5.32 and a beta of 0.65. The company's 50 day simple moving average is $47.97 and its 200 day simple moving average is $43.74. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts' consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The firm had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. During the same quarter last year, the business posted ($2.16) earnings per share. The company's quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares of the company's stock, valued at $12,623,452.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Richard Pinion sold 4,173 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now owns 89,268 shares in the company, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the stock. Covestor Ltd raised its holdings in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 596 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 329 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 865 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Ultragenyx Pharmaceutical by 97.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 903 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 400 shares in 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.