Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Break Above 50-Day Moving Average - Here's Why

Key Points

• Ultragenyx shares rose 6.4% and moved above their 50-day moving average, trading as high as $16.51 against an average of $15.84.
• Analyst views were mixed, but the consensus rating was Hold with a $29.79 price target; ratings included nine Buys, eleven Holds, and one Sell, alongside one Strong Buy.
• The company reported a quarterly loss of $1.16 per share and $173 million in revenue, both below analyst estimates, although revenue increased 8.2% year over year.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $15.84 and traded as high as $16.51. Ultragenyx Pharmaceutical shares last traded at $16.41, with a volume of 2,669,008 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday, September 18th. HC Wainwright decreased their price target on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. Bank of America lowered Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating in a research report on Thursday, September 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 6th. Finally, Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.79.

Ultragenyx Pharmaceutical Trading Up 6.4%

The company has a market cap of $1.62 billion, a price-to-earnings ratio of -3.16 and a beta of 0.37. The stock has a 50 day moving average price of $15.84 and a two-hundred day moving average price of $22.68.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts' consensus estimates of ($1.10) by ($0.06). The company had revenue of $173.00 million during the quarter, compared to analyst estimates of $182.49 million. During the same period in the previous year, the business posted ($1.81) earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.21 EPS for the current fiscal year.

Insider Activity

In other news, CFO Howard Horn sold 7,066 shares of the company's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the completion of the sale, the chief financial officer directly owned 89,229 shares of the company's stock, valued at $1,362,526.83. This represents a 7.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 8,510 shares of company stock worth $127,561. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth $355,746,000. Bank of America Corp DE bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $38,347,000. Jefferies Financial Group Inc. bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $31,040,000. Eagle Health Investments LP acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth $29,521,000. Finally, Palo Alto Investors LP acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth $19,916,968. Institutional investors and hedge funds own 97.67% of the company's stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare genetic diseases. Founded in 2010 and headquartered in Novato, California, the company works on therapies for conditions with limited treatment options, including enzyme deficiencies and metabolic disorders.

Its marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Mepsevii (vestronidase alfa), for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), for long-chain fatty acid oxidation disorders.

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