Ultragenyx Pharmaceutical (NASDAQ:RARE) Rating Lowered to In-Line at Evercore

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by equities researchers at Evercore from an “outperform” rating to an “in-line” rating in a report issued on Thursday, Briefing.com reports. They currently have a $16.00 target price on the biopharmaceutical company’s stock. Evercore’s price objective would indicate a potential downside of 39.69% from the stock’s current price.

RARE has been the subject of a number of other reports. Citigroup lifted their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Wedbush dropped their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Wells Fargo & Company cut shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research note on Thursday. Finally, Cantor Fitzgerald increased their target price on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.53.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $26.53 on Thursday. Ultragenyx Pharmaceutical has a 52-week low of $18.29 and a 52-week high of $39.89. The stock has a market capitalization of $2.62 billion, a PE ratio of -4.54 and a beta of 0.31. The company has a 50-day simple moving average of $28.36 and a two-hundred day simple moving average of $25.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. The business had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company’s revenue was up 28.5% compared to the same quarter last year. During the same period last year, the business posted ($1.17) EPS. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insider Activity

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its stake in Ultragenyx Pharmaceutical by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock worth $817,000 after purchasing an additional 534 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 26.1% during the third quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 549 shares during the period. Tidal Investments LLC increased its stake in Ultragenyx Pharmaceutical by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock worth $458,000 after buying an additional 564 shares during the period. Rafferty Asset Management LLC boosted its position in Ultragenyx Pharmaceutical by 0.4% in the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock valued at $3,612,000 after buying an additional 577 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 43.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 751 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.