Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Down 3.7%

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares were down 3.7% during trading on Tuesday . The company traded as low as $38.29 and last traded at $38.33. Approximately 167,193 shares changed hands during trading, a decline of 79% from the average daily volume of 789,755 shares. The stock had previously closed at $39.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RARE shares. Bank of America lowered their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a report on Friday, May 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $115.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, June 12th. The Goldman Sachs Group raised Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $67.00 in a research report on Thursday, June 6th. Wedbush boosted their price objective on Ultragenyx Pharmaceutical from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Canaccord Genuity Group increased their target price on shares of Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.71.

Ultragenyx Pharmaceutical Stock Performance

The business’s 50 day moving average price is $42.50 and its two-hundred day moving average price is $45.21. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -4.83 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The firm had revenue of $108.83 million during the quarter, compared to analyst estimates of $116.03 million. During the same quarter last year, the company earned ($2.33) earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.57 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’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 completion of the sale, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the sale, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at $2,609,145. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 10th. The stock was 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 $297,892.80. The disclosure for this sale can be found here. Insiders have sold a total of 11,685 shares of company stock valued at $518,923 over the last three months. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 13.3% in the 4th quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after purchasing an additional 25,144 shares during the period. Rafferty Asset Management LLC increased its stake in Ultragenyx Pharmaceutical by 21.2% in the 4th quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after buying an additional 38,859 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Ultragenyx Pharmaceutical by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock worth $14,143,000 after buying an additional 19,487 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Ultragenyx Pharmaceutical by 37.0% during the 4th quarter. New York State Common Retirement Fund now owns 72,866 shares of the biopharmaceutical company’s stock valued at $3,484,000 after buying an additional 19,673 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Ultragenyx Pharmaceutical by 42.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $2,745,000 after acquiring an additional 17,000 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.