Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 5.6% – Here’s Why

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) were up 5.6% during mid-day trading on Monday . The company traded as high as $22.47 and last traded at $22.45. Approximately 560,018 shares changed hands during trading, a decline of 77% from the average daily volume of 2,461,676 shares. The stock had previously closed at $21.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RARE shares. Canaccord Genuity Group dropped their target price on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Bank of America cut their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, January 2nd. Guggenheim reduced their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, February 17th. Finally, Leerink Partners cut their price target on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, December 30th. Sixteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.29.

Ultragenyx Pharmaceutical Price Performance

The firm has a fifty day simple moving average of $23.04 and a two-hundred day simple moving average of $29.08. The firm has a market capitalization of $2.18 billion, a P/E ratio of -3.86 and a beta of 0.16.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.09). The firm had revenue of $207.28 million for the quarter, compared to analysts’ expectations of $199.60 million. Ultragenyx Pharmaceutical had a negative net margin of 85.54% and a negative return on equity of 1,024.42%. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.39) EPS. On average, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 8,135 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $185,478.00. Following the sale, the executive vice president owned 76,346 shares in the company, valued at $1,740,688.80. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 8,409 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.70, for a total value of $190,884.30. Following the completion of the transaction, the chief financial officer owned 86,669 shares of the company’s stock, valued at approximately $1,967,386.30. This trade represents a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 108,039 shares of company stock valued at $2,506,945. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently modified their holdings of RARE. Assetmark Inc. grew its stake in Ultragenyx Pharmaceutical by 1,706.7% during the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,024 shares in the last quarter. Huntington National Bank increased its holdings in shares of Ultragenyx Pharmaceutical by 56.2% in the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 393 shares during the period. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth $39,000. Smartleaf Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 205.4% during the third quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,169 shares during the period. Finally, Covestor Ltd grew its position in Ultragenyx Pharmaceutical by 26.0% during the third quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 369 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.