Ultragenyx Pharmaceutical (NASDAQ:RARE) Sets New 12-Month Low Following Analyst Downgrade

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) hit a new 52-week low during trading on Tuesday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The Goldman Sachs Group now has a $25.00 price target on the stock. Ultragenyx Pharmaceutical traded as low as $18.37 and last traded at $19.0540, with a volume of 1005279 shares traded. The stock had previously closed at $20.27.

A number of other research analysts have also recently weighed in on RARE. Bank of America cut their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating for the company in a report on Friday, January 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 21st. Wells Fargo & Company reduced their target price on Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, December 30th. Guggenheim dropped their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Finally, Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, February 17th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.47.

Insiders Place Their Bets

In related news, EVP Eric Crombez sold 7,029 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $160,261.20. Following the transaction, the executive vice president owned 76,301 shares in the company, valued at approximately $1,739,662.80. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Theodore Alan Huizenga sold 1,632 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $37,209.60. Following the transaction, the chief accounting officer directly owned 48,670 shares in the company, valued at $1,109,676. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 104,958 shares of company stock valued at $2,394,858. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of RARE. Vanguard Group Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock valued at $236,068,000 after buying an additional 131,087 shares during the period. State Street Corp grew its position in Ultragenyx Pharmaceutical by 16.5% in the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after acquiring an additional 610,559 shares during the period. Wellington Management Group LLP raised its position in Ultragenyx Pharmaceutical by 26.6% in the fourth quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock valued at $56,624,000 after purchasing an additional 516,781 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after purchasing an additional 1,864,164 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 1,838,208 shares of the biopharmaceutical company’s stock worth $42,287,000 after purchasing an additional 257,701 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Down 5.6%

The firm’s fifty day moving average is $22.70 and its 200-day moving average is $28.39. The stock has a market capitalization of $1.85 billion, a PE ratio of -3.28 and a beta of 0.16.

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

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.