Royal Bank of Canada Begins Coverage on Ultragenyx Pharmaceutical (NASDAQ:RARE)

Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report released on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $77.00 price target on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the stock. Wedbush reissued a neutral rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Robert W. Baird raised their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Cantor Fitzgerald reissued an overweight rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a research note on Monday, March 18th. Finally, Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of Moderate Buy and a consensus price target of $88.08.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $44.28 on Monday. The firm has a market cap of $3.64 billion, a P/E ratio of -5.32 and a beta of 0.65. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.98. The firm’s fifty day moving average is $47.97 and its 200 day moving average is $43.74.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm had revenue of $127.39 million for the quarter, compared to analysts’ expectations of $119.38 million. During the same period in the previous year, the firm posted ($2.16) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts forecast that Ultragenyx Pharmaceutical will post -6.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the transaction, the director now directly owns 14,860 shares of the company’s stock, valued at approximately $756,076.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John Richard Pinion sold 4,173 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. raised its stake in Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 329 shares during the period. Covestor Ltd lifted its stake in shares of Ultragenyx Pharmaceutical by 392.1% in the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares during the last quarter. GAMMA Investing LLC increased its position in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 865 shares during the last quarter. Van ECK Associates Corp raised its holdings in Ultragenyx Pharmaceutical by 34.0% during the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 400 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 3,182.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock worth $80,000 after buying an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.