Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 5.8% - Time to Buy?

Key Points

• Ultragenyx shares rose 5.8% to $15.25, with trading volume roughly in line with the daily average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $34.58, although several firms recently downgraded shares and reduced their targets.
• The company beat quarterly expectations, reporting a loss of $0.90 per share versus the expected $1.22 loss and revenue of $214 million, up 28.5% year over year. Institutional investors own approximately 97.67% of the stock.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report)'s stock price shot up 5.8% during trading on Tuesday. The company traded as high as $15.15 and last traded at $15.25. 2,773,522 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 2,741,373 shares. The stock had previously closed at $14.41.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HC Wainwright dropped their price target on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. William Blair upgraded Ultragenyx Pharmaceutical to a "hold" rating in a research note on Wednesday, September 23rd. Robert W. Baird lowered Ultragenyx Pharmaceutical from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $40.00 to $16.00 in a report on Thursday, September 3rd. The Goldman Sachs Group decreased their price target on Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, September 4th. Finally, Wells Fargo & Company lowered shares of Ultragenyx Pharmaceutical from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $50.00 to $18.00 in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $34.58.

Ultragenyx Pharmaceutical Stock Performance

The company has a market capitalization of $1.51 billion, a PE ratio of -2.65 and a beta of 0.31. The firm's 50-day simple moving average is $21.96 and its 200 day simple moving average is $24.13.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business's revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) EPS. As a group, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RARE. BlackRock Inc. acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth approximately $355,746,000. Assenagon Asset Management S.A. increased its stake in Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 19.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company's stock worth $31,634,000 after purchasing an additional 225,238 shares during the last quarter. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at $29,004,000. Finally, Bank of America Corp DE bought a new stake in Ultragenyx Pharmaceutical during the second quarter worth approximately $38,347,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company's work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx's marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.

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