Brokerages Set Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) PT at $91.71

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $92.79.

A number of research firms have recently commented on RARE. Piper Sandler cut their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Wells Fargo & Company increased their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. HC Wainwright reaffirmed a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Wedbush reiterated a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday.

Ultragenyx Pharmaceutical Stock Down 1.9 %

Ultragenyx Pharmaceutical stock traded down $0.74 during midday trading on Tuesday, reaching $38.15. The stock had a trading volume of 23,028 shares, compared to its average volume of 776,349. The firm has a market capitalization of $3.53 billion, a PE ratio of -6.02 and a beta of 0.67. Ultragenyx Pharmaceutical has a 12 month low of $36.71 and a 12 month high of $60.37. The firm's 50-day moving average price is $41.68 and its 200 day moving average price is $47.03.

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Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Equities research analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. This represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the sale, the executive vice president now directly owns 265,238 shares of the company's stock, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,370 shares of company stock valued at $5,751,499 in the last 90 days. 5.80% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth approximately $35,000. Human Investing LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at $43,000. Finally, Van ECK Associates Corp raised its stake in Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other 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.