Citigroup Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target upped by analysts at Citigroup from $45.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective points to a potential upside of 128.98% from the company’s current price.

A number of other analysts have also commented on RARE. Royal Bank Of Canada upped their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Guggenheim lowered their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Wedbush cut their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $58.28.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock traded down $0.91 on Thursday, hitting $25.33. The company had a trading volume of 2,574,106 shares, compared to its average volume of 2,217,950. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89. The company has a market cap of $2.50 billion, a PE ratio of -4.34 and a beta of 0.35. The business has a 50-day simple moving average of $28.52 and a 200-day simple moving average of $24.96.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same quarter in the previous year, the business earned ($1.17) EPS. The company’s quarterly revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts predict that Ultragenyx Pharmaceutical will post -4.12 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total transaction of $110,601.81. Following the transaction, the chief financial officer owned 105,689 shares in the company, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,552 shares of company stock worth $207,455 in the last ninety days. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $10,973,000. BNP Paribas Financial Markets increased its position in Ultragenyx Pharmaceutical by 57.6% in the 4th quarter. BNP Paribas Financial Markets now owns 903,050 shares of the biopharmaceutical company’s stock valued at $20,770,000 after acquiring an additional 330,031 shares during the period. GW&K Investment Management LLC raised its position in Ultragenyx Pharmaceutical by 19.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock worth $31,634,000 after purchasing an additional 225,238 shares during the last quarter. UBS Group AG raised its position in shares of Ultragenyx Pharmaceutical by 22.3% during the fourth quarter. UBS Group AG now owns 668,811 shares of the biopharmaceutical company’s stock worth $15,383,000 after acquiring an additional 121,786 shares during the last quarter. Finally, Eagle Health Investments LP bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $29,521,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Key Ultragenyx Pharmaceutical News

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: FDA approval expands Ultragenyx’s commercial portfolio. GENGLYCOS is the first FDA-approved treatment designed to address the underlying cause of GSDIa, rather than only managing symptoms. The approval gives patients a new treatment option and could create a significant long-term revenue opportunity for Ultragenyx. Reuters article
• Positive Sentiment: GENGLYCOS is the company’s fifth FDA-approved product. Management said the therapy may reduce the substantial burden of care associated with GSDIa. Ultragenyx also received a Priority Review Voucher, an asset that can potentially be used for a future product or sold to another pharmaceutical company. Ultragenyx announcement
• Positive Sentiment: Analysts raised their expectations following the approval. Wells Fargo lifted its price target to $46 from $45 and maintained an Overweight rating, while Cantor Fitzgerald raised its target to $103 from $96 and also maintained an Overweight rating. The revisions reflect expectations for a potentially durable revenue stream from GENGLYCOS and improved confidence in Ultragenyx’s rare-disease pipeline. Yahoo Finance article
• Neutral Sentiment: The accelerated approval is a strong initial validation, but the company will need to execute the commercial launch and satisfy any post-approval confirmatory requirements. Investors may therefore focus next on pricing, patient uptake, reimbursement and manufacturing capacity.

About Ultragenyx Pharmaceutical

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.