Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 5.2% Following Analyst Upgrade

Key Points

• Ultragenyx Pharmaceutical shares rose 5.2% after Royal Bank of Canada increased its price target from $35 to $40 and kept an outperform rating. The stock traded as high as $35.34 and finished near $35.46.
• Analyst sentiment remains broadly positive, with the stock holding an average Moderate Buy rating and a consensus target price of $58.41. Several firms recently adjusted targets, including Wells Fargo and Cantor Fitzgerald raising theirs.
• The company’s latest earnings report showed a wider-than-expected loss, with EPS of -$1.84 versus expectations of -$1.49 and revenue of $136 million, below estimates. Insiders also sold shares over the past few months, though institutional ownership remains very high at 97.67%.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) rose 5.2% during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from $35.00 to $40.00. Royal Bank Of Canada currently has an outperform rating on the stock. Ultragenyx Pharmaceutical traded as high as $35.34 and last traded at $35.46. 389,069 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,262,907 shares. The stock had previously closed at $33.70.

A number of other brokerages have also commented on RARE. Barclays cut their price objective on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Cantor Fitzgerald boosted their price target on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Weiss Ratings cut Ultragenyx Pharmaceutical from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, June 24th. Finally, Wall Street Zen raised Ultragenyx Pharmaceutical from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $58.41.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the sale, the director owned 27,951 shares in the company, valued at $702,129.12. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares of the company's stock, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,319 shares of company stock valued at $476,837. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,001 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth about $39,000. Parallel Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 1,440 shares during the period. Leonteq Securities AG boosted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 1,333 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 1,845 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Trading Up 5.5%

The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -5.83 and a beta of 0.31. The stock's 50 day moving average is $25.87 and its 200 day moving average is $24.46.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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 firm 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 firm earned ($1.57) EPS. The company's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.53 EPS for the current year.

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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