Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $121.00 at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by Canaccord Genuity Group from $109.00 to $121.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on RARE. The Goldman Sachs Group boosted their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays dropped their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. TD Cowen raised their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Wedbush increased their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Trading Down 0.1 %

Shares of NASDAQ RARE opened at $50.36 on Wednesday. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37. The company has a 50-day moving average of $55.06 and a two-hundred day moving average of $48.19. The company has a market cap of $4.65 billion, a PE ratio of -7.78 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.23) EPS. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently bought and sold shares of RARE. Millennium Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 137.1% during the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock worth $38,753,000 after buying an additional 480,000 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Ultragenyx Pharmaceutical by 513.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after acquiring an additional 424,476 shares in the last quarter. Finally, Artal Group S.A. bought a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at about $8,308,000. Institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.