Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 9.1% - Here's Why

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) shot up 9.1% on Wednesday . The company traded as high as $43.74 and last traded at $43.65. 208,892 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,206,187 shares. The stock had previously closed at $40.02.

Analysts Set New Price Targets

RARE has been the topic of several recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen upped their price objective 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. Royal Bank of Canada restated an "outperform" rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. HC Wainwright restated a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Finally, Wedbush restated a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and an average price target of $92.29.

Ultragenyx Pharmaceutical Stock Up 2.4 %

The company has a market cap of $3.78 billion, a P/E ratio of -6.33 and a beta of 0.58. The company has a fifty day moving average of $45.49 and a 200 day moving average of $49.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $135.28 million. During the same period in the previous year, the company posted ($2.23) EPS. The business's quarterly revenue was up 42.3% compared to the same quarter last year. As a group, research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 RARE. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $43,000. Values First Advisors Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $56,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $83,000. Nomura Asset Management Co. Ltd. bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth $93,000. Finally, Capital Performance Advisors LLP bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth $107,000. 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.