Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $136.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price upped by Canaccord Genuity Group from $121.00 to $136.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on RARE. Wedbush reissued a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Piper Sandler increased their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, TD Cowen raised their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $93.50.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $44.48 on Tuesday. Ultragenyx Pharmaceutical has a one year low of $37.02 and a one year high of $60.37. The business’s fifty day moving average is $43.21 and its 200 day moving average is $49.47. The stock has a market capitalization of $4.11 billion, a PE ratio of -7.02 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 185.70%. The company had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors have recently made changes to their positions in RARE. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after purchasing an additional 89,389 shares in the last quarter. Alkeon Capital Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after buying an additional 769,884 shares in the last quarter. Invesco Ltd. boosted its position in shares of Ultragenyx Pharmaceutical by 1.5% during the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after acquiring an additional 25,487 shares during the last quarter. Alliancebernstein L.P. grew its stake in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock valued at $68,487,000 after acquiring an additional 81,667 shares in the last quarter. Finally, Baker BROS. Advisors LP increased its holdings in Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after acquiring an additional 109,567 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.