Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading 11.5% Higher – Still a Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price traded up 11.5% on Thursday . The stock traded as high as $14.24 and last traded at $14.3560. Approximately 4,669,826 shares were traded during mid-day trading, an increase of 83% from the average session volume of 2,545,771 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $36.00 in a report on Thursday, September 3rd. HC Wainwright cut their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Citigroup lowered their price target on shares of Ultragenyx Pharmaceutical from $58.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Evercore cut shares of Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective on the stock. in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.63.

Ultragenyx Pharmaceutical Stock Up 11.2%

The firm’s fifty day moving average is $24.67 and its two-hundred day moving average is $24.55. The firm has a market cap of $1.41 billion, a P/E ratio of -2.45 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping 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%. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.17) EPS. As a group, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the period. Leonteq Securities AG boosted its holdings in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,001 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth about $48,000. Institutional investors own 97.67% of the company’s stock.

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.