Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Down 5.7% - Here's Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) fell 5.7% on Tuesday . The company traded as low as $40.63 and last traded at $40.69. 339,335 shares traded hands during trading, a decline of 73% from the average session volume of 1,250,216 shares. The stock had previously closed at $43.16.

Analysts Set New Price Targets

Several research firms recently commented on RARE. Canaccord Genuity Group restated a "buy" rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, November 21st. Piper Sandler lifted their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Monday. Finally, HC Wainwright restated a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $92.29.

Ultragenyx Pharmaceutical Trading Down 7.3 %

The company has a fifty day moving average price of $45.69 and a two-hundred day moving average price of $49.64. The firm has a market cap of $3.70 billion, a P/E ratio of -6.19 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm's revenue was up 42.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.23) earnings per share. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the sale, the chief executive officer now owns 2,195,712 shares in the company, valued at $109,785,600. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 103.8% in 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 during the period. Alkeon Capital Management LLC raised its holdings in Ultragenyx Pharmaceutical by 34.3% in 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 acquiring an additional 769,884 shares during the period. Two Sigma Advisers LP raised 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 valued at $54,872,000 after acquiring an additional 545,600 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $17,468,000. Finally, Ikarian Capital LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth approximately $9,943,000. 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.