TD Cowen Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $73.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective raised by TD Cowen from $61.00 to $73.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price indicates a potential upside of 33.60% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays dropped their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Wedbush increased their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.29.

Ultragenyx Pharmaceutical Stock Down 2.9 %

Shares of NASDAQ:RARE traded down $1.62 during midday trading on Monday, hitting $54.64. The stock had a trading volume of 144,155 shares, compared to its average volume of 771,202. The company’s 50-day moving average price is $55.78 and its 200-day moving average price is $47.58. The company has a market capitalization of $4.54 billion, a P/E ratio of -6.80 and a beta of 0.57. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.64) by $0.12. The company had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.25) EPS. Research analysts expect that Ultragenyx Pharmaceutical will post -6.24 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,556 shares of company stock worth $2,519,367 over the last three months. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings 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 worth $23,677,000 after purchasing an additional 424,476 shares during the period. Clearbridge Investments LLC grew its holdings 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 worth $112,096,000 after purchasing an additional 17,362 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Ultragenyx Pharmaceutical in the first quarter valued at $1,074,000. Finally, Vanguard Group Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after buying an additional 1,440,264 shares in the last quarter. 97.67% of the stock is currently 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.