Ultragenyx Pharmaceutical (NASDAQ:RARE) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $48.00 target price on the biopharmaceutical company's stock.

A number of other analysts have also commented on RARE. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a report on Monday, March 18th. Canaccord Genuity Group lifted their target price on 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 lifted 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, Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $91.55.

Ultragenyx Pharmaceutical Stock Performance

RARE stock traded down $0.56 during midday trading on Tuesday, hitting $42.31. 886,829 shares of the company's stock were exchanged, compared to its average volume of 764,026. The stock's fifty day moving average price is $48.22 and its 200-day moving average price is $43.39. The company has a market cap of $3.48 billion, a PE ratio of -5.08 and a beta of 0.65. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts' consensus estimates of ($1.65) by $0.13. The company had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.16) earnings per share. On average, analysts expect that Ultragenyx Pharmaceutical will post -6.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Richard Pinion sold 4,173 shares of the company's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Karah Herdman Parschauer sold 3,756 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now directly owns 67,340 shares in the company, valued at $3,620,198.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Richard Pinion sold 4,173 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 a total of 31,974 shares of company stock valued at $1,639,721 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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 worth $414,764,000 after buying an additional 1,440,264 shares in the last quarter. RTW Investments LP increased its holdings 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 worth $329,340,000 after buying an additional 1,481,997 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 worth $185,233,000 after buying an additional 18,359 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 4.0% during the second quarter. BlackRock Inc. now owns 5,067,027 shares of the biopharmaceutical company's stock worth $233,742,000 after buying an additional 193,671 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings 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 worth $196,923,000 after buying an additional 1,540,791 shares in the last quarter. 97.67% of the stock is currently 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.