Wells Fargo & Company Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $45.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price reduced by Wells Fargo & Company from $47.00 to $45.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on RARE. Wall Street Zen raised Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Cantor Fitzgerald raised their price objective on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Guggenheim reduced their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.82.

Ultragenyx Pharmaceutical Stock Up 0.3%

Shares of RARE opened at $25.91 on Wednesday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -4.44 and a beta of 0.35. The company’s fifty day moving average is $27.89 and its 200-day moving average is $24.80. Ultragenyx Pharmaceutical has a 12 month low of $18.29 and a 12 month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.17) EPS. As a group, research analysts predict that Ultragenyx Pharmaceutical will post -4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Horn sold 4,653 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 105,689 shares in the company, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the sale, the director directly owned 27,951 shares of the company’s stock, valued at $702,129.12. This represents a 17.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,292 shares of company stock worth $351,644 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 29,984 shares during the period. Creative Planning bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at about $454,000. American Century Companies Inc. acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth about $366,000. M&T Bank Corp grew its position in Ultragenyx Pharmaceutical by 19.7% during the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 1,192 shares in the last quarter. Finally, Amundi increased its stake in Ultragenyx Pharmaceutical by 1,560.4% during the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock valued at $3,913,000 after acquiring an additional 93,189 shares during the period. 97.67% of the stock is currently 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.