Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Jumps 3.9% - Here's Why

Key Points

• Ultragenyx Pharmaceutical shares rose 3.9% to about $15.03, although trading volume was 84% below the average daily level.
• Analyst sentiment remains mixed: the stock carries an average “Hold” rating, with a consensus price target of $34.58, while recent targets ranged from $20 to $39.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.90 per share versus estimates of $1.22 and revenue of $214 million, up 28.5% year over year. Institutional investors own 97.67% of the stock.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report)'s stock price traded up 3.9% on Wednesday. The stock traded as high as $14.98 and last traded at $15.0270. 458,654 shares traded hands during trading, a decline of 84% from the average daily volume of 2,784,684 shares. The stock had previously closed at $14.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RARE shares. Wedbush lowered their price target on Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, September 3rd. Cantor Fitzgerald increased their price objective on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an "overweight" rating in a research note on Friday, September 18th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 9th. Royal Bank Of Canada lowered Ultragenyx Pharmaceutical from a "moderate buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley lifted their price objective on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.58.

Ultragenyx Pharmaceutical Stock Up 2.8%

The firm has a 50 day simple moving average of $20.48 and a 200-day simple moving average of $23.85. The company has a market cap of $1.47 billion, a PE ratio of -2.55 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. The company had revenue of $214.00 million during the quarter, compared to analysts' expectations of $183.08 million. The business's revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.17) earnings per share. As a group, equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.96 EPS for the current year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth about $355,746,000. Assenagon Asset Management S.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $38,347,000. GW&K Investment Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 19.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company's stock worth $31,634,000 after acquiring an additional 225,238 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at $31,040,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx's commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.

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