HC Wainwright Boosts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $95.00

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price objective increased by equities researchers at HC Wainwright from $82.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price target would suggest a potential upside of 88.04% from the stock's previous close.

Several other brokerages also recently issued reports on RARE. Wedbush upped their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. TD Cowen increased their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded down $1.66 during trading hours on Wednesday, hitting $50.52. 1,576,950 shares of the stock were exchanged, compared to its average volume of 781,603. The stock has a market capitalization of $4.66 billion, a P/E ratio of -6.92 and a beta of 0.58. The business's 50-day moving average is $55.32 and its two-hundred day moving average is $48.11. Ultragenyx Pharmaceutical has a 12 month low of $34.06 and a 12 month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly 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. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same period in the prior year, the company earned ($2.23) EPS. Ultragenyx Pharmaceutical's revenue for the quarter was up 42.3% on a year-over-year basis. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 20,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 2,223,985 shares of the company's stock, valued at $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Emil D. Kakkis sold 20,000 shares of the business'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 transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the business's stock in a transaction that occurred 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 in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,556 shares of company stock worth $1,515,967. Corporate insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 352 shares during the last quarter. US Bancorp DE grew its stake in Ultragenyx Pharmaceutical by 5.8% during 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 period. Arizona State Retirement System grew its stake in Ultragenyx Pharmaceutical by 2.1% during the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company's stock worth $853,000 after purchasing an additional 434 shares during the period. ProShare Advisors LLC increased its holdings in Ultragenyx Pharmaceutical by 8.7% in the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company's stock worth $284,000 after purchasing an additional 486 shares in the last quarter. Finally, KBC Group NV lifted its stake in Ultragenyx Pharmaceutical by 24.5% in the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company's stock valued at $143,000 after buying an additional 506 shares during the period. 97.67% of the stock is owned by institutional investors.

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.