Guggenheim Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $43.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target decreased by Guggenheim from $52.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. Guggenheim currently has a buy rating on the biopharmaceutical company’s stock.

RARE has been the subject of a number of other research reports. The Goldman Sachs Group lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $61.00 to $25.00 in a research report on Tuesday, March 24th. Wedbush reduced their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. JPMorgan Chase & Co. reduced their price objective on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Finally, Morgan Stanley raised their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.41.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $26.12 on Friday. The stock has a market cap of $2.57 billion, a PE ratio of -4.27 and a beta of 0.39. The business has a 50 day moving average of $22.68 and a 200-day moving average of $26.80. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.57) EPS. Equities analysts anticipate that Ultragenyx Pharmaceutical will post -4.61 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Erik Harris sold 10,539 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $240,289.20. Following the completion of the sale, the executive vice president owned 89,515 shares of the company’s stock, valued at $2,040,942. The trade was a 10.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Emil D. Kakkis sold 54,404 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $1,240,411.20. Following the completion of the sale, the chief executive officer directly owned 658,994 shares of the company’s stock, valued at $15,025,063.20. The trade was a 7.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 111,522 shares of company stock worth $2,543,214. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 1,706.7% in the third quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 1,024 shares during the period. Huntington National Bank grew 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 acquiring an additional 393 shares during the period. Parallel Advisors LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,440 shares during the period. Leonteq Securities AG grew its holdings in shares of Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,333 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth $39,000. Institutional investors own 97.67% of the company’s stock.

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.