Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 8.6% – Still a Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shot up 8.6% on Tuesday . The company traded as high as $32.40 and last traded at $33.3250. Approximately 595,851 shares traded hands during trading, a decline of 73% from the average session volume of 2,238,524 shares. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

RARE has been the subject of a number of research reports. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Morgan Stanley boosted their target price on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. cut their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Finally, Truist Financial upgraded shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.56.

Ultragenyx Pharmaceutical Stock Down 3.0%

The firm’s 50-day simple moving average is $25.31 and its 200-day simple moving average is $24.51. The firm has a market capitalization of $3.19 billion, a PE ratio of -5.30 and a beta of 0.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned ($1.57) EPS. On average, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. This trade represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,319 shares of company stock valued at $476,837 in the last ninety days. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its holdings in shares of Ultragenyx Pharmaceutical by 56.2% in the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 393 shares in the last quarter. Parallel Advisors LLC grew its stake in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 1,440 shares in the last quarter. Leonteq Securities AG grew its stake in Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,333 shares in the last quarter. Danske Bank A S purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 1,845 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.