Wedbush Trims Ultragenyx Pharmaceutical (NASDAQ:RARE) Target Price to $47.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price decreased by Wedbush from $48.00 to $47.00 in a research note released on Friday morning, Benzinga reports. Wedbush currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on the stock. Cantor Fitzgerald restated an overweight rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an outperform rating and a $77.00 price target for the company. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, February 21st. TD Cowen boosted their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $88.00.

Ultragenyx Pharmaceutical Price Performance

RARE stock traded down $0.38 during trading on Friday, reaching $42.37. 48,782 shares of the stock were exchanged, compared to its average volume of 759,648. The business has a 50 day moving average price of $47.25 and a 200-day moving average price of $44.22. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The company had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. Ultragenyx Pharmaceutical’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.33) earnings per share. Analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the transaction, the director now owns 14,860 shares in the company, valued at $756,076.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently bought and sold shares of RARE. Charles Schwab Investment Management Inc. grew its position in Ultragenyx Pharmaceutical by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock valued at $14,143,000 after acquiring an additional 19,487 shares during the period. DekaBank Deutsche Girozentrale grew its position in Ultragenyx Pharmaceutical by 42.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $2,745,000 after acquiring an additional 17,000 shares during the period. CHI Advisors LLC grew its position in Ultragenyx Pharmaceutical by 152.9% during the third quarter. CHI Advisors LLC now owns 215,000 shares of the biopharmaceutical company’s stock valued at $7,665,000 after acquiring an additional 130,000 shares during the period. Vanguard Group Inc. grew its position in Ultragenyx Pharmaceutical by 3.1% during the third quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after acquiring an additional 214,666 shares during the period. Finally, Deutsche Bank AG grew its position in Ultragenyx Pharmaceutical by 6.8% during the third quarter. Deutsche Bank AG now owns 947,732 shares of the biopharmaceutical company’s stock valued at $33,787,000 after acquiring an additional 60,001 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.