Wells Fargo & Company Initiates Coverage on Ultragenyx Pharmaceutical (NASDAQ:RARE)

Equities researchers at Wells Fargo & Company began coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $65.00 price target on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 90.11% from the stock’s current price.

A number of other research firms have also recently commented on RARE. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 9th. Canaccord Genuity Group lowered their price target on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Wedbush lowered their price target on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, July 14th. Morgan Stanley lowered their price target on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Ultragenyx Pharmaceutical Trading Down 0.6%

NASDAQ RARE opened at $34.19 on Monday. The stock’s 50 day moving average is $30.47 and its 200 day moving average is $32.90. Ultragenyx Pharmaceutical has a 12 month low of $25.81 and a 12 month high of $56.38. The stock has a market cap of $3.29 billion, a PE ratio of -6.18 and a beta of 0.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The company had revenue of $166.50 million for the quarter, compared to analysts’ expectations of $161.37 million. During the same period in the previous year, the firm earned ($1.52) EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. On average, analysts forecast that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 2,450 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $31.17, for a total transaction of $76,366.50. Following the sale, the executive vice president owned 73,271 shares in the company, valued at approximately $2,283,857.07. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 7,942 shares of the stock in a transaction on Monday, October 13th. The shares were sold at an average price of $31.51, for a total value of $250,252.42. Following the sale, the chief financial officer owned 98,227 shares in the company, valued at $3,095,132.77. The trade was a 7.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,456 shares of company stock worth $328,486 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock valued at $116,559,000 after buying an additional 706,519 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Ultragenyx Pharmaceutical by 81.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock valued at $77,815,000 after acquiring an additional 965,919 shares during the last quarter. Federated Hermes Inc. grew its position in Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Federated Hermes Inc. now owns 2,055,200 shares of the biopharmaceutical company’s stock valued at $74,419,000 after acquiring an additional 5,400 shares during the last quarter. Geode Capital Management LLC grew its position in Ultragenyx Pharmaceutical by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,712,931 shares of the biopharmaceutical company’s stock valued at $62,291,000 after acquiring an additional 66,394 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Ultragenyx Pharmaceutical by 0.5% in the 1st quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock valued at $61,611,000 after acquiring an additional 8,385 shares during 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.