Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Down to $47.00

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $47.00, but opened at $44.54. Ultragenyx Pharmaceutical shares last traded at $43.99, with a volume of 328,367 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RARE shares. Canaccord Genuity Group upped their price target on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, March 18th. Robert W. Baird upped their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Wedbush upped their target price on Ultragenyx Pharmaceutical from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, February 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.55.

Ultragenyx Pharmaceutical Stock Down 8.8 %

The business has a 50-day simple moving average of $48.22 and a two-hundred day simple moving average of $43.39. The stock has a market capitalization of $3.53 billion, a P/E ratio of -5.15 and a beta of 0.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly 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. The firm had revenue of $127.39 million for the quarter, compared to analysts' expectations of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The business's revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.16) earnings per share. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.34 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the sale, the executive vice president now owns 67,340 shares in the company, valued at $3,620,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the transaction, the executive vice president now owns 67,340 shares of the company's stock, valued at $3,620,198.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Richard Pinion sold 4,173 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,974 shares of company stock worth $1,639,721. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the company. Woodstock Corp lifted its stake in shares of Ultragenyx Pharmaceutical by 38.0% during the first quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company's stock valued at $519,000 after acquiring an additional 3,064 shares during the period. GAMMA Investing LLC lifted its stake in Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 865 shares during the period. Vanguard Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company's stock valued at $414,764,000 after buying an additional 1,440,264 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Ultragenyx Pharmaceutical by 19.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 32,910 shares of the biopharmaceutical company's stock valued at $1,574,000 after buying an additional 5,359 shares during the period. Finally, Blue Owl Capital Holdings LP acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter valued at about $12,588,000. Institutional investors and hedge funds own 97.67% of the company's stock.

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.