Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have been assigned an average rating of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $34.58.

A number of equities research analysts have recently weighed in on RARE shares. Bank of America lowered Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research note on Thursday, September 3rd. Barclays raised their price target on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, September 21st. Evercore cut Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price target on the stock. in a research note on Thursday, September 3rd. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $36.00 in a research report on Thursday, September 3rd. Finally, Robert W. Baird lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $40.00 to $16.00 in a research note on Thursday, September 3rd.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth $355,746,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $6,397,000. Deutsche Bank AG bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $5,503,000. Corient Private Wealth LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $4,644,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth about $6,098,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Stock Down 1.9%

Shares of NASDAQ:RARE opened at $15.03 on Friday. The stock has a market cap of $1.48 billion, a PE ratio of -2.57 and a beta of 0.31. The company’s fifty day moving average is $21.44 and its 200 day moving average is $24.03. Ultragenyx Pharmaceutical has a 52 week low of $12.73 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The company’s revenue was up 28.5% on a year-over-year basis. Sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -3.96 EPS for the current year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.