Ultragenyx Pharmaceutical (NASDAQ:RARE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from a sell rating to a hold rating in a research report report published on Sunday morning.

Other equities research analysts also recently issued research reports about the stock. Truist Financial raised shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Wedbush reissued a “neutral” rating and issued a $25.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their target price on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Morgan Stanley boosted their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group lowered their price objective on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $60.76.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $24.77 on Friday. The company has a 50-day moving average of $22.50 and a 200-day moving average of $26.96. The company has a market capitalization of $2.44 billion, a P/E ratio of -4.24 and a beta of 0.39. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.09). The company had revenue of $207.28 million during the quarter, compared to the consensus estimate of $199.60 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.Ultragenyx Pharmaceutical’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.39) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -4.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Eric Crombez sold 7,029 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $160,261.20. Following the completion of the sale, the executive vice president owned 76,301 shares of the company’s stock, valued at $1,739,662.80. This represents a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 54,404 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the sale, the chief executive officer directly owned 658,994 shares of the company’s stock, valued at approximately $15,025,063.20. This represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 106,495 shares of company stock worth $2,418,021. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RARE. Assenagon Asset Management S.A. boosted its stake in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after purchasing an additional 1,864,164 shares during the period. Norges Bank acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $29,004,000. Millennium Management LLC boosted its stake in Ultragenyx Pharmaceutical by 787.6% during the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock valued at $20,255,000 after purchasing an additional 781,431 shares during the period. Finally, Vestal Point Capital LP acquired a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $22,560,000. 97.67% of the stock is owned by institutional investors and hedge funds.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.