Brokerages Set Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Target Price at $83.64

Key Points

• Ultragenyx Pharmaceutical Inc. has received a consensus rating of “Moderate Buy” from analysts, with thirteen out of fourteen ratings firms assigning a buy rating to the stock.
• The average 12-month price target for Ultragenyx shares among brokers is $83.64, despite some firms lowering their target prices recently.
• The company reported a loss of $1.57 earnings per share for the latest quarter, missing analyst estimates, though revenue increased by 28.0% year-over-year.

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $82.57.

RARE has been the topic of a number of research analyst reports. Guggenheim reiterated a "buy" rating and set a $64.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. HC Wainwright raised Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price target on the stock in a research report on Monday. Wells Fargo & Company lowered their price objective on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Wedbush decreased their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, July 14th. Finally, Morgan Stanley decreased their target price on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Monday, July 14th.

Ultragenyx Pharmaceutical Stock Up 1.2%

Shares of RARE traded up $0.33 during trading hours on Monday, hitting $27.47. The company had a trading volume of 520,825 shares, compared to its average volume of 1,253,822. The firm has a market cap of $2.60 billion, a P/E ratio of -4.67 and a beta of 0.26. The stock's 50 day moving average price is $34.29 and its 200 day moving average price is $37.40. Ultragenyx Pharmaceutical has a 52-week low of $25.81 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The business had revenue of $139.29 million for the quarter, compared to analysts' expectations of $145.98 million. During the same quarter in the prior year, the firm earned ($2.03) EPS. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the completion of the transaction, the director owned 15,344 shares of the company's stock, valued at $573,712.16. This represents a 13.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $27,493,000. Dark Forest Capital Management LP purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $459,000. First Light Asset Management LLC increased its holdings in Ultragenyx Pharmaceutical by 1.1% during the fourth quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock valued at $32,125,000 after buying an additional 8,505 shares during the period. Stifel Financial Corp increased its holdings in Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock valued at $1,001,000 after buying an additional 2,835 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after acquiring an additional 269,733 shares in the last quarter. 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.