Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Upgraded by Wall Street Zen

Key Points

• Ultragenyx Pharmaceutical was upgraded by Wall Street Zen from "strong sell" to "sell", while the broader analyst consensus remains Moderate Buy with an average target price of $59.56.
• The stock was down 6.0% in Friday trading and opened at $21.91, well below its 50-day and 200-day moving averages of $23.69 and $25.46.
• Ultragenyx reported a larger-than-expected loss in its latest quarter, with earnings of ($1.84) per share versus estimates of ($1.49) and revenue of $136 million versus expectations of $158.19 million.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Several other research analysts have also weighed in on the company. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th. Guggenheim reduced their target price on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Barclays reduced their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.56.

Ultragenyx Pharmaceutical Trading Down 6.0%

RARE stock opened at $21.91 on Friday. The business's 50-day moving average price is $23.69 and its two-hundred day moving average price is $25.46. The firm has a market cap of $2.16 billion, a PE ratio of -3.59 and a beta of 0.37. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The business had revenue of $136.00 million for the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The business's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.57) earnings per share. On average, analysts forecast that Ultragenyx Pharmaceutical will post -4.57 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, Director Shehnaaz Suliman sold 5,740 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the sale, the director directly owned 27,951 shares in the company, valued at $702,129.12. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Howard Horn sold 4,653 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the sale, the chief financial officer owned 105,689 shares in the company, valued at approximately $2,512,227.53. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,103 shares of company stock worth $478,186. Corporate insiders own 5.20% of the company's stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company's stock valued at $236,068,000 after purchasing an additional 131,087 shares in the last quarter. State Street Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 16.5% in the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company's stock valued at $98,970,000 after purchasing an additional 610,559 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ultragenyx Pharmaceutical by 26.6% in the fourth quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company's stock valued at $56,624,000 after purchasing an additional 516,781 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after purchasing an additional 2,057,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock worth $65,205,000 after acquiring an additional 1,864,164 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

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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