Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $121.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on the company. TD Cowen increased their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Barclays decreased their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. HC Wainwright lifted their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $47.64 on Tuesday. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The company has a market capitalization of $4.40 billion, a PE ratio of -7.36 and a beta of 0.58. The company has a 50 day moving average price of $54.64 and a 200-day moving average price of $48.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same period in the previous year, the company posted ($2.23) earnings per share. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. On average, analysts forecast that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock worth $1,515,967 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the first quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $33,000. UMB Bank n.a. raised its position in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares during the period. True Wealth Design LLC acquired a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $43,000. Finally, Values First Advisors Inc. purchased a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $56,000. 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.