Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Ultragenyx Pharmaceutical has a consensus analyst rating of “Moderate Buy” from 18 analysts, with the average 1-year price target at about $59.88.
• The company’s latest quarterly results disappointed, as it reported EPS of -$1.84 versus expectations of -$1.49 and revenue of $136 million, below the $158.19 million estimate.
• Recent insider activity showed executive selling, while institutional investors have been adding aggressively to positions; nearly 97.67% of the stock is owned by institutions and hedge funds.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eighteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $59.8824.

RARE has been the topic of a number of analyst reports. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 8th. HC Wainwright dropped their price objective on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Barclays decreased their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Truist Financial raised Ultragenyx Pharmaceutical to a "strong-buy" rating in a report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 8,409 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.70, for a total transaction of $190,884.30. Following the transaction, the chief financial officer directly owned 86,669 shares of the company's stock, valued at approximately $1,967,386.30. The trade was a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Erik Harris sold 10,539 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $240,289.20. Following the transaction, the executive vice president directly owned 89,515 shares in the company, valued at $2,040,942. The trade was a 10.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 117,262 shares of company stock worth $2,687,403 in the last three months. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RARE. Assenagon Asset Management S.A. increased its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock worth $47,298,000 after acquiring an additional 2,057,951 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock worth $65,205,000 after acquiring an additional 1,864,164 shares during the last quarter. Norges Bank acquired a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at $29,004,000. Eagle Health Investments LP bought a new position in Ultragenyx Pharmaceutical during the 1st quarter worth $18,522,000. Finally, Millennium Management LLC increased its position in Ultragenyx Pharmaceutical by 787.6% during the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company's stock worth $20,255,000 after buying an additional 781,431 shares during the period. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Down 1.3%

Shares of Ultragenyx Pharmaceutical stock opened at $23.39 on Friday. Ultragenyx Pharmaceutical has a 12-month low of $18.29 and a 12-month high of $42.37. The stock has a market cap of $2.30 billion, a P/E ratio of -3.83 and a beta of 0.39. The business's 50 day moving average is $23.22 and its 200-day moving average is $26.12.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The company had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. During the same quarter in the prior year, the company earned ($1.57) EPS. The company's revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Ultragenyx Pharmaceutical will post -4.62 EPS for the current year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.