Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Has Average Target Price of $34.58 According to Brokerages

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have received a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $34.58.

Several equities analysts recently weighed in on RARE shares. HC Wainwright cut their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. William Blair lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group reduced their target price on Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Finally, Jefferies Financial Group decreased their target price on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $14.41 on Friday. Ultragenyx Pharmaceutical has a 1-year low of $12.73 and a 1-year high of $39.89. The business has a 50 day simple moving average of $21.96 and a two-hundred day simple moving average of $24.13. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -2.47 and a beta of 0.31.

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. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter last year, the business posted ($1.17) earnings per share. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. Sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -3.96 EPS for the current fiscal year.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at $355,746,000. Assenagon Asset Management S.A. lifted 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 purchasing an additional 2,057,951 shares during the last quarter. GW&K Investment Management LLC lifted its position in Ultragenyx Pharmaceutical by 19.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock valued at $31,634,000 after purchasing an additional 225,238 shares during the last quarter. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth $29,004,000. Finally, Bank of America Corp DE purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $38,347,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.