Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives "Neutral" Rating from Wedbush

Wedbush reissued their neutral rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $48.00 price objective on the biopharmaceutical company's stock, up from their previous price objective of $46.00.

Several other brokerages have also recently issued reports on RARE. Cantor Fitzgerald reissued an "overweight" rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. TD Cowen upped 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. JPMorgan Chase & Co. reduced their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.29.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock traded up $1.09 during trading hours on Monday, reaching $43.16. The company's stock had a trading volume of 2,179,772 shares, compared to its average volume of 1,387,796. Ultragenyx Pharmaceutical has a one year low of $37.02 and a one year high of $60.37. The firm has a 50 day moving average price of $46.09 and a 200-day moving average price of $49.63. The stock has a market cap of $3.99 billion, a P/E ratio of -6.67 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company's revenue for the quarter was up 42.3% on a year-over-year basis. During the same period in the prior year, the business posted ($2.23) earnings per share. As a group, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

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

Institutional Trading of Ultragenyx Pharmaceutical

Several large investors have recently bought and sold shares of RARE. Rhumbline Advisers increased its position in Ultragenyx Pharmaceutical by 5.5% during the second quarter. Rhumbline Advisers now owns 96,710 shares of the biopharmaceutical company's stock worth $3,975,000 after purchasing an additional 5,047 shares during the last quarter. BOKF NA raised its holdings in Ultragenyx Pharmaceutical by 23.5% in the 2nd quarter. BOKF NA now owns 8,316 shares of the biopharmaceutical company's stock valued at $342,000 after buying an additional 1,580 shares during the period. Angeles Investment Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 49.3% in the second quarter. Angeles Investment Advisors LLC now owns 6,640 shares of the biopharmaceutical company's stock valued at $273,000 after buying an additional 2,193 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ultragenyx Pharmaceutical by 38.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 370,247 shares of the biopharmaceutical company's stock valued at $15,217,000 after acquiring an additional 103,280 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Ultragenyx Pharmaceutical by 13.4% in the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company's stock valued at $242,000 after acquiring an additional 696 shares during the period. Hedge funds and other 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.