Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective boosted by Morgan Stanley from $64.00 to $65.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s target price points to a potential upside of 84.87% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wedbush reiterated a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Piper Sandler dropped their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. raised their price target on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $90.93.

Ultragenyx Pharmaceutical Stock Down 2.3 %

RARE stock opened at $35.16 on Friday. Ultragenyx Pharmaceutical has a 52 week low of $29.59 and a 52 week high of $60.37. The business has a 50-day simple moving average of $36.77 and a 200 day simple moving average of $42.32. The company has a market cap of $3.30 billion, a PE ratio of -5.55 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The firm had revenue of $139.29 million during the quarter, compared to analyst estimates of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.03) earnings per share. On average, analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the sale, the executive vice president now directly owns 54,991 shares in the company, valued at $2,358,014.08. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,405 shares of company stock valued at $5,285,169 in the last three months. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Ultragenyx Pharmaceutical by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $35,000. Human Investing LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $42,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at $57,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.