Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Buy Rating from Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report)'s stock had its "buy" rating restated by Canaccord Genuity Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $121.00 price target on the biopharmaceutical company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 152.93% from the company's previous close.

A number of other equities analysts have also weighed in on RARE. The Goldman Sachs Group increased their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. TD Cowen raised their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Barclays lowered their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an "overweight" rating for the company in a research report on Monday, August 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $2.89 on Tuesday, reaching $47.84. 856,951 shares of the stock were exchanged, compared to its average volume of 785,000. The stock has a 50 day moving average price of $54.79 and a 200 day moving average price of $48.29. The stock has a market cap of $4.42 billion, a PE ratio of -7.39 and a beta of 0.58. Ultragenyx Pharmaceutical has a one year low of $34.06 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $139.49 million during the quarter, compared to analysts' expectations of $135.28 million. During the same period in the prior year, the firm earned ($2.23) earnings per share. Ultragenyx Pharmaceutical's revenue for the quarter was up 42.3% compared to the same quarter last year. On average, research analysts expect that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares of the company's stock, valued at approximately $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Howard Horn sold 7,465 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock worth $1,515,967 over the last three months. Corporate insiders own 5.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RARE. Headlands Technologies LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at about $28,000. nVerses Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $33,000. UMB Bank n.a. boosted its position in shares of Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 352 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter worth approximately $56,000. Finally, Capital Performance Advisors LLP acquired a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 97.67% of the company's stock.

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.