Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $52.00 by Analysts at Guggenheim

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective dropped by equities researchers at Guggenheim from $64.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price objective suggests a potential upside of 120.34% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price target on shares of Ultragenyx Pharmaceutical from $65.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, October 8th. Truist Financial cut their price target on Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Robert W. Baird reduced their price target on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, December 30th. Finally, Bank of America lowered their price target on Ultragenyx Pharmaceutical from $72.00 to $58.00 and set a “buy” rating on the stock in a research report on Friday. Sixteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.47.

Ultragenyx Pharmaceutical Trading Up 2.6%

Shares of NASDAQ:RARE opened at $23.60 on Monday. Ultragenyx Pharmaceutical has a 12-month low of $18.41 and a 12-month high of $46.50. The business has a 50 day moving average of $32.82 and a two-hundred day moving average of $31.71. The company has a market capitalization of $2.28 billion, a PE ratio of -3.97 and a beta of 0.15.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). The firm had revenue of $159.93 million for the quarter, compared to analyst estimates of $167.42 million. Ultragenyx Pharmaceutical had a negative return on equity of 414.17% and a negative net margin of 91.95%.Ultragenyx Pharmaceutical’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.40) EPS. Equities research analysts predict that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,942 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, October 13th. The shares were sold at an average price of $31.51, for a total transaction of $250,252.42. Following the sale, the chief financial officer owned 98,227 shares of the company’s stock, valued at $3,095,132.77. The trade was a 7.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 11,108 shares of company stock valued at $365,262. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd raised its position in Ultragenyx Pharmaceutical by 26.0% in the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 369 shares during the last quarter. Huntington National Bank grew its holdings in shares of Ultragenyx Pharmaceutical by 56.2% during the third quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 393 shares during the last quarter. Teacher Retirement System of Texas increased its position in Ultragenyx Pharmaceutical by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,773 shares of the biopharmaceutical company’s stock valued at $828,000 after acquiring an additional 404 shares during the period. Xponance Inc. increased its position in Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Xponance Inc. now owns 13,494 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 406 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Ultragenyx Pharmaceutical by 2.3% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,988 shares of the biopharmaceutical company’s stock valued at $690,000 after acquiring an additional 434 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.