Brokerages Set Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Target Price at $86.71

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $86.50.

A number of research firms have recently commented on RARE. Wedbush reissued a “neutral” rating and set a $45.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, July 18th. Royal Bank of Canada began coverage on Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an “outperform” rating and a $77.00 target price for the company. The Goldman Sachs Group upgraded Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $67.00 in a research report on Thursday, June 6th. Bank of America dropped their price target on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Canaccord Genuity Group raised their price objective on Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the company a “buy” rating in a report on Friday, May 31st.

Insider Activity

In related news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now directly owns 57,981 shares in the company, valued at $2,609,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Karah Herdman Parschauer sold 9,806 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total value of $441,270.00. Following the sale, the executive vice president now directly owns 57,981 shares in the company, valued at approximately $2,609,145. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the completion of the transaction, the director now directly owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. Insiders sold a total of 12,127 shares of company stock valued at $536,593 in the last 90 days. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. Hennion & Walsh Asset Management Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 47.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 73,289 shares of the biopharmaceutical company’s stock valued at $3,012,000 after buying an additional 23,752 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at about $795,000. Wealth Enhancement Advisory Services LLC grew its position in Ultragenyx Pharmaceutical by 15.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,359 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 975 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Ultragenyx Pharmaceutical during the second quarter worth about $653,000. Finally, Woodstock Corp lifted its position in shares of Ultragenyx Pharmaceutical by 24.7% during the second quarter. Woodstock Corp now owns 13,871 shares of the biopharmaceutical company’s stock worth $570,000 after purchasing an additional 2,747 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 4.5 %

Shares of RARE opened at $44.46 on Thursday. The firm has a market cap of $3.70 billion, a P/E ratio of -5.54 and a beta of 0.56. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.56. The stock’s 50 day moving average is $41.20 and its two-hundred day moving average is $44.54.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The business had revenue of $108.83 million for the quarter, compared to analysts’ expectations of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned ($2.33) EPS. Equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.45 EPS for the current year.

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.