Wedbush Reiterates Neutral Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $48.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target would indicate a potential upside of 8.82% from the company’s current price.

A number of other research firms have also commented on RARE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Robert W. Baird lifted their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.55.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $44.11 on Tuesday. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -5.30 and a beta of 0.65. The business has a 50-day simple moving average of $48.14 and a 200 day simple moving average of $43.44.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. The firm had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.16) earnings per share. On average, sell-side analysts expect that Ultragenyx Pharmaceutical will post -6.36 EPS for the current year.

Insider Buying and Selling

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Richard Pinion sold 4,173 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,974 shares of company stock worth $1,639,721. 6.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 40.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 49,537 shares of the biopharmaceutical company’s stock valued at $2,313,000 after purchasing an additional 14,159 shares during the period. Woodstock Corp lifted its stake in shares of Ultragenyx Pharmaceutical by 38.0% in the first quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company’s stock valued at $519,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 622.3% in the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 865 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after purchasing an additional 1,440,264 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Ultragenyx Pharmaceutical by 19.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,910 shares of the biopharmaceutical company’s stock worth $1,574,000 after acquiring an additional 5,359 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.