Ultragenyx Pharmaceutical (NASDAQ:RARE) Given Buy Rating at HC Wainwright

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 92.98% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Guggenheim decreased their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley lifted their price target on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.82.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $25.91 on Monday. The stock has a market capitalization of $2.55 billion, a P/E ratio of -4.44 and a beta of 0.35. Ultragenyx Pharmaceutical has a 12 month low of $18.29 and a 12 month high of $39.89. The business has a 50 day simple moving average of $27.89 and a 200-day simple moving average of $24.81.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business’s revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) EPS. Research analysts anticipate that Ultragenyx Pharmaceutical will post -4.42 EPS for the current year.

Insider Buying and Selling

In other news, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the sale, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,292 shares of company stock worth $351,644. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,001 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at $39,000. Harbor Investment Advisory LLC acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at $52,000. Parallel Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 1,440 shares during the period. Finally, Leonteq Securities AG boosted its stake in Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,333 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

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.