Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Ultragenyx shares crossed above their 50-day moving average (50-day MA $22.21), trading as high as $24.44 and last at $24.10 on volume of about 1.54 million shares.
• Analysts give a consensus rating of "Moderate Buy" with a consensus price target of $61.18, though several firms have recently cut targets and ratings are mixed.
• The company reported quarterly EPS of -$1.29 (miss) vs. -$1.20 expected and revenue of $207.3M (beat), revenue was up 25.5% YoY, but Ultragenyx remains unprofitable and insiders—including the CEO—have sold shares recently.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.21 and traded as high as $24.44. Ultragenyx Pharmaceutical shares last traded at $24.10, with a volume of 1,538,105 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Ultragenyx Pharmaceutical from a "hold" rating to a "sell" rating in a report on Saturday. HC Wainwright reduced their price objective on Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Wedbush reissued a "neutral" rating and issued a $25.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, February 17th. Robert W. Baird lowered their target price on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.18.

Ultragenyx Pharmaceutical Trading Down 0.7%

The business has a 50-day moving average price of $22.21 and a 200-day moving average price of $27.21. The stock has a market cap of $2.37 billion, a PE ratio of -4.13 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.09). The company had revenue of $207.28 million during the quarter, compared to analysts' expectations of $199.60 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.Ultragenyx Pharmaceutical's revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.39) EPS. Equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -4.48 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 54,404 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $1,240,411.20. Following the transaction, the chief executive officer directly owned 658,994 shares of the company's stock, valued at approximately $15,025,063.20. This trade represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Theodore Alan Huizenga sold 1,632 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $37,209.60. Following the completion of the sale, the chief accounting officer owned 48,670 shares in the company, valued at approximately $1,109,676. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 109,556 shares of company stock valued at $2,490,138. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in RARE. Assetmark Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 1,706.7% in the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 1,024 shares during the last quarter. Huntington National Bank raised its stake in Ultragenyx Pharmaceutical by 56.2% in the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 393 shares during the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at $39,000. Smartleaf Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 205.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Ultragenyx Pharmaceutical by 26.0% in the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

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.

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