Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 6.5% - Here's Why

Key Points

• Ultragenyx Pharmaceutical's stock price increased by 6.5%, with the last traded price at $31.90, despite a decline in trading volume.
• Analysts have set varied price targets for the stock, with a current average price target of $81.50 and an analyst rating of "Moderate Buy".
• The company's quarterly earnings report showed revenue of $166.50 million, surpassing expectations, although it still reported a loss of ($1.17) earnings per share.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) was up 6.5% during mid-day trading on Tuesday . The company traded as high as $31.77 and last traded at $31.90. Approximately 947,511 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 1,291,349 shares. The stock had previously closed at $29.96.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RARE shares. Canaccord Genuity Group cut their target price on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. HC Wainwright raised Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 target price on the stock in a research report on Monday, July 28th. Morgan Stanley cut their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. William Blair started coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Ultragenyx Pharmaceutical Stock Up 1.7%

The business has a 50-day moving average price of $30.40 and a two-hundred day moving average price of $34.86. The firm has a market cap of $3.07 billion, a PE ratio of -5.75 and a beta of 0.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, topping analysts' consensus estimates of ($1.27) by $0.10. The business had revenue of $166.50 million for the quarter, compared to analyst estimates of $161.37 million. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The company's revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.52) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the transaction, the director owned 15,344 shares of the company's stock, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in shares of Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after purchasing an additional 2,835 shares during the last quarter. Knott David M Jr purchased a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth about $1,738,000. Squarepoint Ops LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $3,702,000. BOKF NA grew its holdings in shares of Ultragenyx Pharmaceutical by 5.0% during the fourth quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company's stock worth $336,000 after purchasing an additional 382 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 8.4% during the fourth quarter. Ameriprise Financial Inc. now owns 13,396 shares of the biopharmaceutical company's stock worth $564,000 after purchasing an additional 1,039 shares during the last quarter. Hedge funds and other 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.