Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $47.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by Wedbush from $48.00 to $47.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. TD Cowen boosted their target price on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a buy rating in a report on Wednesday, April 24th. Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an outperform rating and a $77.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a report on Monday, March 18th. Robert W. Baird upped their price target on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating and eleven have issued 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 target price of $88.00.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock traded down $0.45 during mid-day trading on Friday, reaching $42.75. 1,143,019 shares of the company traded hands, compared to its average volume of 786,481. The firm’s 50 day moving average price is $47.25 and its 200 day moving average price is $44.08. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -5.32 and a beta of 0.68. Ultragenyx Pharmaceutical has a 52-week low of $31.52 and a 52-week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The company had revenue of $108.83 million for the quarter, compared to analysts’ expectations of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.33) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.38 EPS for the current year.

Insider Activity

In other news, insider John Richard Pinion sold 4,173 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at approximately $4,799,047.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the sale, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,116 shares of company stock worth $1,645,983. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after acquiring an additional 1,440,264 shares during the period. RTW Investments LP raised its stake in shares of Ultragenyx Pharmaceutical by 27.4% during the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock worth $329,340,000 after buying an additional 1,481,997 shares during the period. Wellington Management Group LLP raised its stake in shares of Ultragenyx Pharmaceutical by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock worth $185,233,000 after buying an additional 18,359 shares during the period. Sands Capital Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 59.8% during the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after buying an additional 1,540,791 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 11.4% during the 4th quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company’s stock worth $116,992,000 after buying an additional 250,000 shares during the period. Hedge funds and other 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.