Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $88.00 Price Target at Wells Fargo & Company

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target upped by Wells Fargo & Company from $75.00 to $88.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price would suggest a potential upside of 99.00% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, November 21st. HC Wainwright raised their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. TD Cowen lifted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.46.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded up $0.75 during trading hours on Friday, reaching $44.22. 1,707,822 shares of the company's stock traded hands, compared to its average volume of 782,100. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The firm has a 50-day simple moving average of $49.75 and a 200 day simple moving average of $49.23. The firm has a market cap of $4.08 billion, a PE ratio of -6.83 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates 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 was up 42.3% on a year-over-year basis. During the same period last year, the business earned ($2.23) earnings per share. Sell-side analysts forecast that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 8,273 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,195,712 shares in the company, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock valued at $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 34.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock valued at $167,301,000 after buying an additional 769,884 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company's stock worth $54,872,000 after buying an additional 545,600 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Ultragenyx Pharmaceutical by 63.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company's stock valued at $34,128,000 after acquiring an additional 323,280 shares during the period. 97.67% of the stock is currently owned by institutional investors.

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.