Guggenheim Has Lowered Expectations for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price cut by Guggenheim from $52.00 to $43.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price target would indicate a potential upside of 63.11% from the stock’s previous close.

RARE has been the subject of several other reports. Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial upgraded Ultragenyx Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Canaccord Genuity Group decreased their price target on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price target on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $60.41.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $26.36 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -4.25 and a beta of 0.39. The firm has a 50-day simple moving average of $22.68 and a two-hundred day simple moving average of $26.80. Ultragenyx Pharmaceutical has a one year low of $18.29 and a one year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.34). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 2,272.48%. The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.38 million. During the same quarter in the prior year, the business posted ($1.57) earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts predict that Ultragenyx Pharmaceutical will post -4.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Theodore Alan Huizenga sold 1,632 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $37,209.60. Following the sale, the chief accounting officer directly owned 48,670 shares of the company’s stock, valued at $1,109,676. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 8,135 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $185,478.00. Following the completion of the sale, the executive vice president owned 76,346 shares in the company, valued at $1,740,688.80. The trade was a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 111,522 shares of company stock worth $2,543,214. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock valued at $236,068,000 after buying an additional 131,087 shares during the period. State Street Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 16.5% in the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after buying an additional 610,559 shares during the last quarter. Wellington Management Group LLP grew its holdings in Ultragenyx Pharmaceutical by 26.6% during the fourth quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock worth $56,624,000 after acquiring an additional 516,781 shares during the period. Assenagon Asset Management S.A. raised its position in Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after acquiring an additional 2,057,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.