Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 5.8% – Here’s What Happened

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares traded up 5.8% during mid-day trading on Tuesday. The company traded as high as $15.15 and last traded at $15.25. Approximately 2,773,522 shares were traded during trading, an increase of 1% from the average session volume of 2,741,373 shares. The stock had previously closed at $14.41.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RARE. Cantor Fitzgerald increased their price target on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Wells Fargo & Company cut Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $50.00 to $18.00 in a research note on Thursday, September 3rd. JPMorgan Chase & Co. lowered shares of Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $36.00 in a research note on Thursday, September 3rd. The Goldman Sachs Group cut their price target on Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, September 4th. Finally, HC Wainwright cut their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.58.

Ultragenyx Pharmaceutical Trading Up 6.5%

The firm has a market capitalization of $1.51 billion, a PE ratio of -2.65 and a beta of 0.31. The business has a 50-day moving average of $21.96 and a 200 day moving average of $24.13.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The company had revenue of $214.00 million for 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 firm’s quarterly revenue was up 28.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.17) EPS. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -3.96 EPS for the current fiscal year.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth $355,746,000. Assenagon Asset Management S.A. lifted its position in Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $38,347,000. GW&K Investment Management LLC grew its holdings in Ultragenyx Pharmaceutical by 19.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock valued at $31,634,000 after purchasing an additional 225,238 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $31,040,000. Institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.