Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 7.2% - What's Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) was up 7.2% during mid-day trading on Tuesday . The company traded as high as $45.89 and last traded at $45.75. Approximately 173,408 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,260,775 shares. The stock had previously closed at $42.66.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RARE shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. HC Wainwright restated a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Canaccord Genuity Group reiterated a "buy" rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. 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 note on Friday, December 20th. Finally, TD Cowen increased their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Trading Up 4.2 %

The firm's fifty day moving average price is $46.74 and its 200-day moving average price is $49.53. The company has a market cap of $4.10 billion, a P/E ratio of -6.87 and a beta of 0.58.

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 187.12% and a negative net margin of 106.93%. 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. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 transaction 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. The trade was a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company's stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,465 shares of company stock valued at $1,302,735. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB increased its position in shares of Ultragenyx Pharmaceutical by 8.9% in the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company's stock worth $1,658,000 after purchasing an additional 3,246 shares during the period. Principal Financial Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company's stock worth $4,802,000 after acquiring an additional 76,150 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $83,000. Geode Capital Management LLC raised its position in Ultragenyx Pharmaceutical by 4.4% during the third quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company's stock valued at $87,296,000 after purchasing an additional 65,623 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Ultragenyx Pharmaceutical by 8.1% during the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company's stock worth $388,000 after purchasing an additional 525 shares during the last quarter. 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.