Ultragenyx Pharmaceutical's (RARE) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated its “buy” rating on Ultragenyx Pharmaceutical and set a $50 price target, implying approximately 93% upside from the stock’s $25.91 opening price.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $57.82; recent targets range from $26 to $96.
• Ultragenyx exceeded quarterly expectations, reporting an adjusted loss of $0.90 per share versus the $1.22 estimate and revenue of $214 million, up 28.5% year over year.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $50.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price suggests a potential upside of 92.98% from the stock's current price.

RARE has been the topic of several other reports. Morgan Stanley increased their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Guggenheim lowered their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Wall Street Zen raised Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a research note on Saturday. Wedbush dropped their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald upped their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $57.82.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $25.91 on Monday. The company has a market capitalization of $2.55 billion, a PE ratio of -4.44 and a beta of 0.35. The company's fifty day moving average price is $27.89 and its 200 day moving average price is $24.81. Ultragenyx Pharmaceutical has a 1 year low of $18.29 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.32. The business had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company's revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.17) EPS. On average, equities analysts expect that Ultragenyx Pharmaceutical will post -4.42 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares of the company's stock, valued at $528,429.75. The trade was a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,292 shares of company stock worth $351,644 over the last quarter. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Ultragenyx Pharmaceutical in the second quarter worth approximately $355,746,000. Assenagon Asset Management S.A. raised its position in shares of Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock worth $47,298,000 after acquiring an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Ultragenyx Pharmaceutical by 614.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock valued at $65,205,000 after purchasing an additional 1,864,164 shares during the last quarter. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at $29,004,000. Finally, Eagle Health Investments LP acquired a new position in Ultragenyx Pharmaceutical in the first quarter valued at $18,522,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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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