Ultragenyx Pharmaceutical (NASDAQ:RARE) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $77.00 price target on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on RARE. TD Cowen increased their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday. The Goldman Sachs Group upped their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wedbush increased their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays cut their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $50.52 on Wednesday. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -6.92 and a beta of 0.58. The company’s 50 day simple moving average is $55.32 and its 200 day simple moving average is $48.11. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. During the same period last year, the firm posted ($2.23) earnings per share. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. As a group, analysts predict that Ultragenyx Pharmaceutical will post -6.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,556 shares of company stock worth $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in shares of Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares during the last quarter. US Bancorp DE boosted its position in shares of Ultragenyx Pharmaceutical by 5.8% in the first quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 390 shares during the period. Arizona State Retirement System grew its stake in shares of Ultragenyx Pharmaceutical by 2.1% in the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares in the last quarter. ProShare Advisors LLC increased its position in Ultragenyx Pharmaceutical by 8.7% during the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock worth $284,000 after acquiring an additional 486 shares during the period. Finally, KBC Group NV increased its position in Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 506 shares during the period. 97.67% of the stock is owned by institutional investors.

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.