TD Cowen Raises Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $61.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price lifted by TD Cowen from $59.00 to $61.00 in a research report sent to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on the company. Royal Bank of Canada assumed coverage on Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an outperform rating and a $77.00 price target on the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Canaccord Genuity Group raised their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a buy rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research note on Monday, March 18th. Finally, Wedbush reaffirmed a neutral rating and set a $48.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $88.08.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $44.24 on Wednesday. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -5.31 and a beta of 0.65. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The stock’s fifty day moving average is $47.89 and its 200-day moving average is $43.75.

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 analysts’ consensus estimates of ($1.65) by $0.13. The company had revenue of $127.39 million for the quarter, compared to analyst estimates 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 last year, the company earned ($2.16) earnings per share. Analysts forecast that Ultragenyx Pharmaceutical will post -6.38 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The disclosure for this sale can be found here. Insiders sold 32,116 shares of company stock worth $1,645,983 in the last quarter. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. raised its stake in shares of Ultragenyx Pharmaceutical by 118.8% during the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 329 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Ultragenyx Pharmaceutical by 34.0% during the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Ultragenyx Pharmaceutical by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 20,163 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 441 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Ultragenyx Pharmaceutical by 38.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 548 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 596 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.