Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 3.5% - Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) traded up 3.5% on Thursday . The company traded as high as $38.96 and last traded at $38.84. 281,139 shares changed hands during trading, a decline of 67% from the average session volume of 851,525 shares. The stock had previously closed at $37.51.

Wall Street Analyst Weigh In

Several analysts have issued reports on RARE shares. HC Wainwright reaffirmed a "buy" rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Piper Sandler lowered their price target 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. Morgan Stanley upped 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, William Blair assumed coverage on Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $88.77.

Ultragenyx Pharmaceutical Stock Performance

The stock's 50-day simple moving average is $35.91 and its 200-day simple moving average is $40.15. The firm has a market capitalization of $3.59 billion, a PE ratio of -5.96 and a beta of 0.25.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. GAMMA Investing LLC boosted its stake in Ultragenyx Pharmaceutical by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 323 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $35,000. Human Investing LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $42,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth $57,000. Institutional investors own 97.67% of the company's stock.

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.