Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) in a research note released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $77.00 target price on the biopharmaceutical company's stock.

Several other equities analysts also recently weighed in on RARE. Wedbush reaffirmed a neutral rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research report on Monday, March 18th. Cantor Fitzgerald restated an overweight rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Robert W. Baird boosted their target price 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. Finally, Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $90.33.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $1.32 on Monday, reaching $43.69. The company's stock had a trading volume of 592,367 shares, compared to its average volume of 762,579. The stock has a market capitalization of $3.60 billion, a P/E ratio of -5.24 and a beta of 0.65. The stock's 50 day simple moving average is $48.01 and its two-hundred day simple moving average is $43.61. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.98.

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

Insiders Place Their Bets

In related news, Director Matthew K. Fust sold 12,195 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now owns 14,860 shares of the company's stock, valued at approximately $756,076.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the completion of the transaction, the director now directly owns 14,860 shares in the company, valued at $756,076.80. The transaction 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 stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares of the company's stock, valued at $4,799,047.68. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock worth $1,645,983 in the last quarter. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in shares of Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 596 shares during the last quarter. UMB Bank n.a. lifted its holdings in Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 329 shares during the last quarter. GAMMA Investing LLC increased its position in Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Ultragenyx Pharmaceutical by 97.3% during 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 period. Finally, Van ECK Associates Corp grew its position in shares of Ultragenyx Pharmaceutical by 34.0% during the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company's stock worth $75,000 after buying an additional 400 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

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.