Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $47.00

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price objective cut by stock analysts at Wedbush from $48.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the biopharmaceutical company's stock. Wedbush's price objective points to a potential upside of 9.94% from the stock's previous close.

RARE has been the subject of several other reports. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, February 21st. 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 report on Tuesday, January 30th. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. TD Cowen lifted their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada began coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an "outperform" rating and a $77.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock traded down $0.45 during trading hours on Friday, reaching $42.75. The company had a trading volume of 1,143,007 shares, compared to its average volume of 767,975. The business has a fifty day moving average price of $47.25 and a 200-day moving average price of $44.08. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The firm has a market cap of $3.55 billion, a PE ratio of -5.13 and a beta of 0.68.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing analysts' consensus estimates of ($1.72) by ($0.31). The company had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 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 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.33) earnings per share. Equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.38 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 4,173 shares of the business'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 owns 89,268 shares of the company's stock, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction of $224,340.48. Following the sale, the insider now owns 89,268 shares of the company's stock, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 3,756 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 transaction of $201,922.56. Following the sale, the executive vice president now directly owns 67,340 shares in the company, valued at approximately $3,620,198.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the business. UMB Bank n.a. increased its position in Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 329 shares during the last quarter. Covestor Ltd increased its position in Ultragenyx Pharmaceutical by 392.1% during the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 596 shares during the last quarter. GAMMA Investing LLC increased its position in Ultragenyx Pharmaceutical by 622.3% during the first 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 during the last quarter. Van ECK Associates Corp increased its position in Ultragenyx Pharmaceutical by 34.0% during 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 during the last quarter. Finally, International Assets Investment Management LLC increased its position in Ultragenyx Pharmaceutical by 3,182.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company's stock valued at $80,000 after acquiring an additional 1,623 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

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.