Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $81.00 by Analysts at Barclays

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by Barclays from $83.00 to $81.00 in a research note released on Monday, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on RARE. Robert W. Baird increased their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Bank of America reduced their target price on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a buy rating on the stock in a report on Friday, May 31st. The Goldman Sachs Group increased their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a buy rating in a report on Friday, August 2nd. Finally, TD Cowen increased their target price on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $87.43.

Ultragenyx Pharmaceutical Trading Up 2.8 %

RARE opened at $50.29 on Monday. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $54.56. The stock’s fifty day simple moving average is $42.83 and its 200 day simple moving average is $44.64. The stock has a market cap of $4.18 billion, a PE ratio of -6.26 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 392.36% and a negative net margin of 121.57%. The business had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the prior year, the business earned ($2.25) EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities analysts forecast that Ultragenyx Pharmaceutical will post -6.45 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total value of $1,003,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 9,806 shares of Ultragenyx Pharmaceutical 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 completion of the sale, the executive vice president now owns 57,981 shares of the company’s stock, valued at $2,609,145. The disclosure for this sale can be found here. Insiders sold 32,127 shares of company stock worth $1,539,993 over the last ninety days. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Ultragenyx Pharmaceutical by 513.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after acquiring an additional 424,476 shares during the period. Franklin Resources Inc. grew its stake in Ultragenyx Pharmaceutical by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after acquiring an additional 25,144 shares during the period. Clearbridge Investments LLC grew its stake in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after acquiring an additional 17,362 shares during the period. Rafferty Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 21.2% in the fourth quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after acquiring an additional 38,859 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Ultragenyx Pharmaceutical by 37.0% in the fourth quarter. New York State Common Retirement Fund now owns 72,866 shares of the biopharmaceutical company’s stock valued at $3,484,000 after acquiring an additional 19,673 shares during the period. 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.