Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Up 3.9% – What’s Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shot up 3.9% during mid-day trading on Wednesday. The stock traded as high as $14.98 and last traded at $15.0270. Approximately 458,654 shares were traded during trading, a decline of 84% from the average daily volume of 2,784,684 shares. The stock had previously closed at $14.46.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RARE. Guggenheim cut their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group decreased their price target on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Barclays upped their price objective on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.58.

Ultragenyx Pharmaceutical Trading Up 2.8%

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -2.55 and a beta of 0.35. The company has a fifty day moving average of $20.48 and a two-hundred day moving average of $23.85.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same period in the previous year, the business posted ($1.17) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in RARE. BlackRock Inc. acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $355,746,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $6,397,000. Deutsche Bank AG bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $5,503,000. Corient Private Wealth LP bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $4,644,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in Ultragenyx Pharmaceutical in the second quarter valued at approximately $6,098,000. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.