Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $90.00 by Analysts at Truist Financial

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by research analysts at Truist Financial from $100.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price indicates a potential upside of 179.35% from the stock’s previous close.

A number of other analysts also recently commented on the company. Canaccord Genuity Group dropped their price objective on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Morgan Stanley lowered their price target on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Wedbush decreased their price target on shares of Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 14th. Wells Fargo & Company initiated coverage on shares of Ultragenyx Pharmaceutical in a research note on Monday, October 20th. They issued an “overweight” rating and a $65.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.92.

Ultragenyx Pharmaceutical Stock Down 0.7%

Shares of NASDAQ:RARE traded down $0.24 during midday trading on Wednesday, reaching $32.22. The company’s stock had a trading volume of 1,222,617 shares, compared to its average volume of 1,348,571. Ultragenyx Pharmaceutical has a 1 year low of $25.81 and a 1 year high of $53.47. The business has a 50 day moving average price of $31.40 and a 200 day moving average price of $32.91. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -5.73 and a beta of 0.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.58). Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The business had revenue of $159.93 million for the quarter, compared to analysts’ expectations of $167.42 million. During the same quarter in the prior year, the firm earned ($1.40) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 14.6% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 2,450 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the transaction, the executive vice president directly owned 73,271 shares of the company’s stock, valued at approximately $2,283,857.07. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,942 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the sale, the chief financial officer directly owned 98,227 shares of the company’s stock, valued at $3,095,132.77. The trade was a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,456 shares of company stock worth $328,486 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 36.9% in the 3rd quarter. WCM Investment Management LLC now owns 288,109 shares of the biopharmaceutical company’s stock worth $8,747,000 after buying an additional 77,640 shares in the last quarter. Privium Fund Management B.V. raised its stake in Ultragenyx Pharmaceutical by 14.4% in the 3rd quarter. Privium Fund Management B.V. now owns 289,804 shares of the biopharmaceutical company’s stock valued at $8,717,000 after purchasing an additional 36,500 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Ultragenyx Pharmaceutical by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 25,176 shares of the biopharmaceutical company’s stock worth $757,000 after buying an additional 533 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Ultragenyx Pharmaceutical by 31.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 67,834 shares of the biopharmaceutical company’s stock valued at $2,040,000 after purchasing an additional 16,096 shares during the last quarter. Finally, Covestor Ltd grew its stake in Ultragenyx Pharmaceutical by 26.0% during the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.