Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $121.00 Price Target at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by Canaccord Genuity Group from $109.00 to $121.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on RARE. HC Wainwright raised their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Wedbush increased their price target 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. Finally, The Goldman Sachs Group boosted their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $50.36 on Wednesday. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37. The firm has a market capitalization of $4.65 billion, a PE ratio of -7.78 and a beta of 0.58. The company’s 50-day moving average is $55.06 and its 200-day moving average is $48.19.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the previous year, the business earned ($2.23) earnings per share. The business’s revenue was up 42.3% compared to the same quarter last year. As a group, analysts expect that Ultragenyx Pharmaceutical will post -6.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’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 completion of the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,556 shares of company stock worth $1,515,967. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Ultragenyx Pharmaceutical in the third quarter valued at about $1,323,000. Quest Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at approximately $119,000. Swiss National Bank boosted its stake in shares of Ultragenyx Pharmaceutical by 9.1% in the 3rd quarter. Swiss National Bank now owns 159,152 shares of the biopharmaceutical company’s stock valued at $8,841,000 after purchasing an additional 13,300 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $321,000. Finally, Natixis Advisors LLC increased its position in Ultragenyx Pharmaceutical by 290.0% during the 3rd quarter. Natixis Advisors LLC now owns 52,562 shares of the biopharmaceutical company’s stock worth $2,920,000 after purchasing an additional 39,086 shares in the last quarter. 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.