Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Royal Bank of Canada

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They presently have a $77.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 41.47% from the company’s current price.

RARE has been the subject of a number of other research reports. Robert W. Baird raised their price target on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Stifel Nicolaus raised their target price 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. Wedbush increased their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America cut their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $54.43 on Thursday. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37. The company’s fifty day moving average price is $53.28 and its 200 day moving average price is $46.69. The stock has a market capitalization of $4.52 billion, a P/E ratio of -6.78 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) 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 for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.25) earnings per share. Sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.24 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 40,675 shares of company stock worth $2,149,446. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

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