Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Receives $90.93 Consensus Target Price from Brokerages

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $90.93.

A number of research analysts have recently commented on the company. Piper Sandler lowered their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Morgan Stanley lifted their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th.

Insider Activity

In related news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the transaction, the executive vice president now owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $253,778.80. Following the sale, the executive vice president now owns 265,238 shares of the company's stock, valued at approximately $11,166,519.80. This trade represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,405 shares of company stock valued at $5,285,169 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after buying an additional 294 shares during the last quarter. KBC Group NV increased its stake in shares of Ultragenyx Pharmaceutical by 2,275.8% in the 4th quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company's stock worth $2,567,000 after purchasing an additional 58,442 shares in the last quarter. R Squared Ltd bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth $103,000. China Universal Asset Management Co. Ltd. lifted its position in Ultragenyx Pharmaceutical by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,580 shares of the biopharmaceutical company's stock valued at $824,000 after purchasing an additional 1,854 shares in the last quarter. Finally, abrdn plc lifted its position in Ultragenyx Pharmaceutical by 25.2% during the fourth quarter. abrdn plc now owns 317,125 shares of the biopharmaceutical company's stock valued at $13,341,000 after purchasing an additional 63,821 shares in the last quarter. Institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

RARE stock traded down $0.06 on Wednesday, reaching $35.56. The company's stock had a trading volume of 189,634 shares, compared to its average volume of 823,776. The business has a fifty day simple moving average of $36.39 and a two-hundred day simple moving average of $41.64. The firm has a market cap of $3.36 billion, a PE ratio of -5.59 and a beta of 0.34. Ultragenyx Pharmaceutical has a 12-month low of $29.59 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $139.29 million for the quarter, compared to the consensus estimate of $145.98 million. During the same period in the previous year, the firm posted ($2.03) EPS. The company's revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

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.