Ultragenyx Pharmaceutical (NASDAQ:RARE) Hits New 1-Year Low on Analyst Downgrade

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report)'s stock price reached a new 52-week low on Friday after Wedbush lowered their price target on the stock from $35.00 to $34.00. Wedbush currently has a neutral rating on the stock. Ultragenyx Pharmaceutical traded as low as $29.06 and last traded at $31.03, with a volume of 12967397 shares trading hands. The stock had previously closed at $41.44.

Other equities research analysts have also issued reports about the stock. Guggenheim restated a "buy" rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. William Blair initiated coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.64.

Insider Buying and Selling

In related news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the sale, the director directly owned 15,344 shares in the company, valued at $573,712.16. This trade represents a 13.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 3,167 shares of company stock worth $118,824. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RARE. Charles Schwab Investment Management Inc. grew its position in Ultragenyx Pharmaceutical by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,633 shares of the biopharmaceutical company's stock worth $25,816,000 after purchasing an additional 19,112 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter worth $916,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ultragenyx Pharmaceutical by 28.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,874 shares of the biopharmaceutical company's stock worth $962,000 after purchasing an additional 5,104 shares during the last quarter. Swiss National Bank grew its position in Ultragenyx Pharmaceutical by 2.5% during the 4th quarter. Swiss National Bank now owns 163,152 shares of the biopharmaceutical company's stock worth $6,864,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Xponance Inc. grew its position in Ultragenyx Pharmaceutical by 8.3% during the 4th quarter. Xponance Inc. now owns 12,205 shares of the biopharmaceutical company's stock worth $513,000 after purchasing an additional 940 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Performance

The company has a market capitalization of $2.76 billion, a PE ratio of -4.97 and a beta of 0.26. The company's 50-day simple moving average is $36.47 and its 200-day simple moving average is $38.71.

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