TD Cowen Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $73.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by research analysts at TD Cowen from $61.00 to $73.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price suggests a potential upside of 33.60% from the company’s current price.

RARE has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, October 1st. The Goldman Sachs Group raised their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.29.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded down $1.62 during mid-day trading on Monday, hitting $54.64. 144,155 shares of the stock were exchanged, compared to its average volume of 771,202. The company has a market cap of $4.54 billion, a P/E ratio of -6.80 and a beta of 0.57. The stock’s fifty day simple moving average is $55.78 and its two-hundred day simple moving average is $47.58. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $123.20 million. During the same period in the prior year, the firm earned ($2.25) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 35.7% compared to the same quarter last year. As a group, equities research analysts predict that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ultragenyx Pharmaceutical 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 value of $1,117,000.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,556 shares of company stock worth $2,519,367 over the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RARE. Vanguard Group Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after buying an additional 1,440,264 shares during the period. Millennium Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after buying an additional 942,529 shares during the period. Avoro Capital Advisors LLC boosted its holdings in shares of 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 during the period. Frazier Life Sciences Management L.P. bought a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in 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 purchasing an additional 424,476 shares during the period. 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.