Wedbush Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $26.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target trimmed by Wedbush from $27.00 to $26.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright cut their price objective on shares of Ultragenyx Pharmaceutical from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Canaccord Genuity Group lowered their target price on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $61.00 to $25.00 in a research report on Tuesday, March 24th. Weiss Ratings lowered Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Finally, Barclays lowered their price objective on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.41.

Ultragenyx Pharmaceutical Trading Down 0.0%

Shares of RARE stock opened at $26.12 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $18.29 and a 12 month high of $42.37. The stock has a market cap of $2.57 billion, a PE ratio of -4.27 and a beta of 0.39. The company’s fifty day moving average price is $22.68 and its 200-day moving average price is $26.80.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The business had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. Ultragenyx Pharmaceutical had a negative return on equity of 2,272.48% and a negative net margin of 91.03%.The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.57) earnings per share. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -4.53 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 54,404 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $1,240,411.20. Following the completion of the transaction, the chief executive officer directly owned 658,994 shares in the company, valued at $15,025,063.20. The trade was a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Richard Pinion sold 10,029 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total value of $228,661.20. Following the completion of the transaction, the insider directly owned 110,026 shares in the company, valued at $2,508,592.80. This trade represents a 8.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 111,522 shares of company stock valued at $2,543,214. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in shares of Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after buying an additional 2,057,951 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the period. Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at about $29,004,000. Millennium Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 787.6% in the fourth quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock worth $20,255,000 after acquiring an additional 781,431 shares during the period. Finally, Vestal Point Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $22,560,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.