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

Ultragenyx Pharmaceutical logo with Medical background

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RARE. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Piper Sandler dropped their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Morgan Stanley upped their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, William Blair started coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.77.

Read Our Latest Report on RARE

Ultragenyx Pharmaceutical Stock Down 4.6%

The company has a market capitalization of $3.54 billion, a PE ratio of -5.91 and a beta of 0.25. The stock has a 50-day moving average of $36.04 and a 200 day moving average of $39.97.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 493 shares during the period. GAMMA Investing LLC increased its holdings 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 period. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $35,000. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $42,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Ultragenyx Pharmaceutical during the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Company Profile

(Get Free Report)

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.

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