Ultragenyx Pharmaceutical (NASDAQ:RARE) Now Covered by Royal Bank of Canada

Investment analysts at Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $77.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 70.69% from the stock’s previous close.

Several other brokerages have also recently commented on RARE. Robert W. Baird raised their price target on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Wedbush restated a “neutral” rating and issued a $48.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, April 5th. Finally, Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy 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 price target of $90.33.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $45.11 on Monday. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The stock has a market capitalization of $3.71 billion, a P/E ratio of -5.42 and a beta of 0.65. The company has a 50 day moving average price of $47.95 and a 200 day moving average price of $43.68.

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

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now directly owns 89,268 shares in the company, valued at $4,799,047.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the transaction, the executive vice president now owns 252,823 shares in the company, valued at $12,623,452.39. The disclosure for this sale can be found here. Insiders have sold 32,116 shares of company stock worth $1,645,983 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in RARE. Covestor Ltd boosted its holdings in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 596 shares in the last quarter. UMB Bank n.a. boosted its holdings in Ultragenyx Pharmaceutical by 118.8% during the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 329 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Ultragenyx Pharmaceutical by 97.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.