Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Royal Bank of Canada

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They presently have a $77.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 41.47% from the company’s previous close.

RARE has been the subject of several other research reports. Wedbush raised their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Stifel Nicolaus upped their price objective on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Robert W. Baird raised their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $54.43 on Thursday. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -6.78 and a beta of 0.56. The stock’s fifty day moving average is $53.28 and its two-hundred day moving average is $46.69.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. During the same quarter in the prior year, the company posted ($2.25) earnings per share. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. As a group, analysts predict that Ultragenyx Pharmaceutical will post -6.24 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 40,675 shares of company stock worth $2,149,446. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RARE. Headlands Technologies LLC bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at about $28,000. nVerses Capital LLC bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at $33,000. UMB Bank n.a. increased its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the period. GAMMA Investing LLC lifted its position in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Ultragenyx Pharmaceutical by 67.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares during the last quarter. 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.