Ultragenyx Pharmaceutical’s (RARE) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $77.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on RARE. Canaccord Genuity Group restated a buy rating and set a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Wedbush lifted their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a neutral rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a buy rating in a report on Friday, May 31st. The Goldman Sachs Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a buy rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of Moderate Buy and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Trading Down 1.4 %

Shares of NASDAQ RARE opened at $54.43 on Thursday. The firm has a 50 day moving average of $53.28 and a 200 day moving average of $46.67. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -6.78 and a beta of 0.56. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $60.37.

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, topping analysts’ consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business posted ($2.25) earnings per share. Sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.24 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 40,675 shares of company stock valued at $2,149,446. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Maven Securities LTD grew its position in shares of Ultragenyx Pharmaceutical by 100.0% in the 2nd quarter. Maven Securities LTD now owns 20,000 shares of the biopharmaceutical company’s stock worth $822,000 after buying an additional 10,000 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $1,355,000. Algert Global LLC grew its position in shares of Ultragenyx Pharmaceutical by 104.8% in the 2nd quarter. Algert Global LLC now owns 50,322 shares of the biopharmaceutical company’s stock worth $2,068,000 after buying an additional 25,752 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $17,468,000. Finally, Driehaus Capital Management LLC grew its position in Ultragenyx Pharmaceutical by 35.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 528,180 shares of the biopharmaceutical company’s stock worth $21,708,000 after purchasing an additional 138,889 shares during the last quarter. 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.