Royal Bank of Canada Reiterates Outperform Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $77.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential upside of 52.69% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wedbush boosted their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Barclays cut their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Stock Down 0.2 %

Ultragenyx Pharmaceutical stock opened at $50.43 on Wednesday. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -6.91 and a beta of 0.58. The firm’s fifty day moving average is $55.19 and its 200 day moving average is $48.12. Ultragenyx Pharmaceutical has a 52-week low of $34.06 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter in the previous year, the business posted ($2.23) earnings per share. The business’s revenue was up 42.3% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % 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. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction dated 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 completion of 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $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 sold a total of 27,556 shares of company stock valued at $1,515,967 over the last three months. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. Millennium Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Ultragenyx Pharmaceutical by 137.1% during the first quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock valued at $38,753,000 after buying an additional 480,000 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Ultragenyx Pharmaceutical by 513.8% during the first 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. acquired a new position in shares of Ultragenyx Pharmaceutical during the first quarter valued at about $8,308,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.