Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rated Neutral in New Coverage at UBS Group

UBS Group assumed coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report released on Thursday, Marketbeat.com reports. The firm issued a neutral rating and a $16.00 price objective on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other reports. Cantor Fitzgerald boosted their target price on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. TD Cowen dropped their price target on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. HC Wainwright cut their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Wells Fargo & Company lowered shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $50.00 to $18.00 in a report on Thursday, September 3rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Hold” and an average target price of $33.65.

Ultragenyx Pharmaceutical Trading Down 4.2%

Ultragenyx Pharmaceutical stock opened at $14.54 on Thursday. The company has a market capitalization of $1.43 billion, a PE ratio of -2.49 and a beta of 0.35. Ultragenyx Pharmaceutical has a 12 month low of $12.73 and a 12 month high of $39.89. The stock has a 50-day moving average price of $18.82 and a two-hundred day moving average price of $23.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same quarter last year, the firm posted ($1.17) earnings per share. The business’s revenue for the quarter was up 28.5% on a year-over-year basis. As a group, analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in RARE. BlackRock Inc. acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $355,746,000. Assenagon Asset Management S.A. raised its holdings in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. Bank of America Corp DE bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $38,347,000. Candriam S.C.A. lifted its position in shares of Ultragenyx Pharmaceutical by 37.1% in the 1st quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company’s stock worth $22,965,000 after purchasing an additional 296,798 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $31,040,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.