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

Key Points

• Wall Street Zen upgraded Ultragenyx Pharmaceutical from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $57.82.
• Ultragenyx reported stronger-than-expected quarterly results, posting an adjusted loss of $0.90 per share versus the $1.22 consensus loss and revenue of $214 million, up 28.5% year over year.
• The stock opened at $25.91, below its 12-month high of $39.89. Institutional investors own 97.67% of shares, while insiders have sold 14,292 shares worth about $351,644 over the past 90 days.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on RARE. Royal Bank Of Canada increased their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their price target on Ultragenyx Pharmaceutical from $47.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday. Cantor Fitzgerald boosted their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Barclays lowered their price target 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, Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.82.

Ultragenyx Pharmaceutical Trading Up 0.3%

RARE opened at $25.91 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -4.44 and a beta of 0.35. The stock has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $24.80. Ultragenyx Pharmaceutical has a 12-month low of $18.29 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same period last year, the business earned ($1.17) earnings per share. The business's revenue was up 28.5% on a year-over-year basis. On average, analysts predict that Ultragenyx Pharmaceutical will post -4.46 EPS for the current year.

Insider Activity

In other news, CFO Howard Horn sold 4,653 shares of the stock in a transaction on 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 directly owned 105,689 shares of the company's stock, valued at $2,512,227.53. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were 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 approximately $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,292 shares of company stock valued at $351,644. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $355,746,000. Pallas Capital Advisors LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $287,000. Deutsche Bank AG bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $5,503,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $348,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $15,717,000. Hedge funds and other institutional investors own 97.67% of the company's stock.

About Ultragenyx Pharmaceutical

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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