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

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) shares hit a new 52-week low on Friday after Wells Fargo & Company lowered their price target on the stock from $88.00 to $65.00. Wells Fargo & Company currently has an overweight rating on the stock. Ultragenyx Pharmaceutical traded as low as $29.06 and last traded at $31.03, with a volume of 12967397 shares traded. The stock had previously closed at $41.44.

Several other research firms have also recently commented on RARE. Piper Sandler lowered their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. William Blair started coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price target on the stock. JPMorgan Chase & Co. lifted their price target 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. Guggenheim reiterated a "buy" rating and issued a $64.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. Finally, 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 report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.36.

Insider Buying and Selling at Ultragenyx Pharmaceutical

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

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 493 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Ultragenyx Pharmaceutical by 1,061.9% in the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 669 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 323 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $35,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth about $57,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Stock Down 4.9%

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -5.02 and a beta of 0.26. The stock has a 50 day moving average of $36.67 and a 200 day moving average of $38.88.

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

Ultragenyx Pharmaceutical Company Profile

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.