Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Down 5.7% – Time to Sell?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) fell 5.7% during mid-day trading on Tuesday . The company traded as low as $40.63 and last traded at $40.69. 339,335 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,250,216 shares. The stock had previously closed at $43.16.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RARE. HC Wainwright reissued a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Wedbush reiterated a “neutral” rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Trading Down 6.7 %

The firm has a market cap of $3.72 billion, a PE ratio of -6.23 and a beta of 0.58. The business’s 50-day simple moving average is $45.93 and its 200 day simple moving average is $49.65.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same period last year, the business earned ($2.23) EPS. Analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the business. Alkeon Capital Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after acquiring an additional 942,529 shares during the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after acquiring an additional 109,567 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after acquiring an additional 65,623 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after acquiring an additional 164,110 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other 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.