Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $25.00 by Analysts at HC Wainwright

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target dropped by HC Wainwright from $50.00 to $25.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential downside of 5.77% from the stock’s previous close.

A number of other research firms have also recently weighed in on RARE. Evercore cut Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective for the company. in a research report on Thursday. Robert W. Baird lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $16.00 in a research report on Thursday. Guggenheim reduced their target price 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, August 4th. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley lifted their price objective on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $46.53.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $26.53 on Thursday. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $39.89. The stock has a market cap of $2.62 billion, a P/E ratio of -4.54 and a beta of 0.31. The firm has a fifty day moving average price of $28.36 and a 200 day moving average price of $25.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same period in the previous year, the business posted ($1.17) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% on a year-over-year basis. Sell-side analysts expect that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical 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 transaction, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently made changes to their positions in RARE. BlackRock Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at $355,746,000. California State Teachers Retirement System lifted its holdings in Ultragenyx Pharmaceutical by 3,137.6% in the 2nd quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after purchasing an additional 3,283,467 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Ultragenyx Pharmaceutical by 1,030.4% in 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of 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 worth $65,205,000 after purchasing an additional 1,864,164 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $29,004,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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.