Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) was upgraded by equities researchers at UBS Group to a “hold” rating in a research note issued on Wednesday, Zacks reports.
A number of other analysts have also issued reports on RARE. Morgan Stanley lifted their price target on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 18th. Wells Fargo & Company downgraded Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $50.00 to $18.00 in a research note on Thursday, September 3rd. Robert W. Baird lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $16.00 in a research note on Thursday, September 3rd. Wedbush cut their price objective on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Finally, Evercore lowered Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 target price on the stock. in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.65.
Read Our Latest Report on RARE
Ultragenyx Pharmaceutical Stock Performance
Shares of RARE traded down $0.63 during trading hours on Wednesday, hitting $14.54. The stock had a trading volume of 2,924,016 shares, compared to its average volume of 4,951,327. Ultragenyx Pharmaceutical has a 12-month low of $12.73 and a 12-month high of $39.89. The firm has a market cap of $1.43 billion, a P/E ratio of -2.49 and a beta of 0.35. The company’s fifty day simple moving average is $18.82 and its 200 day simple moving average is $23.56.
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.32. 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 previous year, the company earned ($1.17) EPS. Ultragenyx Pharmaceutical’s revenue was up 28.5% on a year-over-year basis. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in RARE. BlackRock Inc. acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at $355,746,000. Assenagon Asset Management S.A. increased its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $38,347,000. Jefferies Financial Group Inc. bought a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $31,040,000. Finally, Eagle Health Investments LP bought a new position in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $18,522,000. Institutional investors and hedge funds own 97.67% of the company’s stock.
Ultragenyx Pharmaceutical Company Profile
Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.
Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.
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