Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report issued on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $121.00 price objective on the biopharmaceutical company’s stock.

RARE has been the subject of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. HC Wainwright boosted their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $44.75 on Tuesday. The stock has a market capitalization of $4.13 billion, a P/E ratio of -6.92 and a beta of 0.58. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37. The stock’s fifty day moving average is $54.25 and its 200 day moving average is $48.30.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.23) earnings per share. Equities research analysts forecast that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current year.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on 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 directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock valued at $1,515,967 over the last three months. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Ultragenyx Pharmaceutical by 67.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 1,339 shares in the last quarter. Swiss National Bank grew its stake in shares of Ultragenyx Pharmaceutical by 3.0% during the first quarter. Swiss National Bank now owns 145,852 shares of the biopharmaceutical company’s stock worth $6,810,000 after acquiring an additional 4,300 shares during the last quarter. Sei Investments Co. increased its stake in Ultragenyx Pharmaceutical by 0.9% during the 1st quarter. Sei Investments Co. now owns 65,996 shares of the biopharmaceutical company’s stock valued at $3,081,000 after purchasing an additional 616 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at $28,000. Finally, US Bancorp DE raised its stake in shares of Ultragenyx Pharmaceutical by 5.8% in the first quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 390 shares during 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.