Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $43.00 at Barclays

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by Barclays from $44.00 to $43.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings lowered shares of Ultragenyx Pharmaceutical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. Leerink Partners cut their target price on shares of Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Truist Financial upgraded shares of Ultragenyx Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Robert W. Baird cut their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.76.

Ultragenyx Pharmaceutical Trading Down 1.4%

NASDAQ RARE opened at $24.18 on Wednesday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -4.14 and a beta of 0.25. The firm’s 50 day simple moving average is $22.44 and its 200 day simple moving average is $27.04. Ultragenyx Pharmaceutical has a 1 year low of $18.29 and a 1 year high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The firm had revenue of $207.28 million for the quarter, compared to analyst estimates of $199.60 million. During the same quarter in the prior year, the business posted ($1.39) EPS. The business’s revenue was up 25.5% on a year-over-year basis. On average, equities research analysts forecast that Ultragenyx Pharmaceutical will post -4.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,683 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $20.97, for a total transaction of $98,202.51. Following the completion of the transaction, the chief financial officer directly owned 80,351 shares of the company’s stock, valued at $1,684,960.47. This trade represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karah Herdman Parschauer sold 8,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $185,478.00. Following the transaction, the executive vice president directly owned 76,346 shares of the company’s stock, valued at approximately $1,740,688.80. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,556 shares of company stock valued at $2,490,138 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 29,984 shares during the last quarter. Creative Planning bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth $454,000. American Century Companies Inc. bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth $366,000. M&T Bank Corp raised its position in Ultragenyx Pharmaceutical by 19.7% during the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 1,192 shares during the last quarter. Finally, Amundi raised its position in Ultragenyx Pharmaceutical by 1,560.4% during the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock worth $3,913,000 after purchasing an additional 93,189 shares during the last quarter. 97.67% of the stock is owned by 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.