Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $46.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 94.10% from the company’s current price.
Several other brokerages also recently issued reports on RARE. Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Morgan Stanley lifted their price target on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Finally, Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.44.
Check Out Our Latest Stock Analysis on Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Price Performance
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company’s revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.17) earnings per share. As a group, analysts anticipate that Ultragenyx Pharmaceutical will post -3.99 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’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 transaction of $50,100.00. Following the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares in the company, valued at $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,552 shares of company stock worth $207,455 in the last quarter. 5.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Ultragenyx Pharmaceutical
Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,440 shares during the period. Leonteq Securities AG lifted its position in shares of Ultragenyx Pharmaceutical by 288.5% during the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,333 shares during the period. Versant Capital Management Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth $39,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ultragenyx Pharmaceutical by 573.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 1,845 shares during the period. 97.67% of the stock is currently owned by institutional investors.
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.
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