Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $109.00 by Analysts at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price objective cut by stock analysts at Canaccord Genuity Group from $111.00 to $109.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's price target suggests a potential upside of 153.43% from the stock's current price.

RARE has been the subject of a number of other reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday. JPMorgan Chase & Co. increased their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday. Robert W. Baird increased their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada began coverage on Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They set an "outperform" rating and a $77.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $87.85.

Ultragenyx Pharmaceutical Stock Up 0.6 %

RARE stock traded up $0.26 during midday trading on Monday, hitting $43.01. The company's stock had a trading volume of 1,099,857 shares, compared to its average volume of 771,789. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -5.35 and a beta of 0.68. The company has a 50 day moving average of $47.25 and a two-hundred day moving average of $44.22.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The business had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. During the same quarter in the previous year, the company earned ($2.33) earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 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 value of $224,340.48. Following the sale, the insider now owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction 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 sale, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 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 value 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. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 over the last three months. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 19.9% during 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. RTW Investments LP increased its stake in shares of Ultragenyx Pharmaceutical by 27.4% during the fourth quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company's stock valued at $329,340,000 after buying an additional 1,481,997 shares during the period. Wellington Management Group LLP increased its stake in shares of Ultragenyx Pharmaceutical by 0.4% during the third quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company's stock valued at $185,233,000 after buying an additional 18,359 shares during the period. Sands Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 59.8% during the fourth quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company's stock valued at $196,923,000 after buying an additional 1,540,791 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 11.4% during the fourth quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company's stock valued at $116,992,000 after buying an additional 250,000 shares during the period. 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.