Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $88.00 Price Target at Wells Fargo & Company

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price upped by equities research analysts at Wells Fargo & Company from $75.00 to $88.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 102.44% from the company’s previous close.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. JPMorgan Chase & Co. cut their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. HC Wainwright lifted their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $43.47 on Friday. The firm’s 50 day moving average price is $49.75 and its two-hundred day moving average price is $49.23. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The stock has a market cap of $4.01 billion, a PE ratio of -6.72 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the business posted ($2.23) EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total value of $413,650.00. Following the sale, the chief executive officer now directly owns 2,195,712 shares in the company, valued at $109,785,600. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth $33,000. UMB Bank n.a. lifted its position in Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth about $43,000. Values First Advisors Inc. bought a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $56,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $83,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.