Ultragenyx Pharmaceutical (NASDAQ:RARE – Free Report) had its target price raised by Wells Fargo & Company from $18.00 to $19.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.
Other analysts have also recently issued reports about the company. Jefferies Financial Group dropped their price target on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Evercore cut Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective for the company. in a research note on Thursday, September 3rd. Royal Bank Of Canada downgraded Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. cut Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $36.00 in a research note on Thursday, September 3rd. Finally, Barclays raised their price target on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.79.
Check Out Our Latest Research Report on Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Stock Performance
Shares of Ultragenyx Pharmaceutical stock traded down $0.14 during trading on Wednesday, hitting $15.43. The company’s stock had a trading volume of 4,049,110 shares, compared to its average volume of 3,379,657. Ultragenyx Pharmaceutical has a 52 week low of $12.73 and a 52 week high of $39.89. The company has a market capitalization of $1.52 billion, a PE ratio of -2.97 and a beta of 0.37. The company has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $22.71.
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.06). The company had revenue of $173.00 million for the quarter, compared to analyst estimates of $182.49 million. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.81) earnings per share. As a group, analysts predict that Ultragenyx Pharmaceutical will post -3.45 EPS for the current year.
Insider Activity at Ultragenyx Pharmaceutical
In other news, CFO Howard Horn sold 7,066 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the completion of the transaction, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. The trade was a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 8,510 shares of company stock valued at $127,561. 5.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ultragenyx Pharmaceutical
Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth about $355,746,000. Bank of America Corp DE purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $38,347,000. Jefferies Financial Group Inc. purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $31,040,000. Eagle Health Investments LP bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth approximately $18,522,000. Finally, Palo Alto Investors LP bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $19,916,968. 97.67% of the stock is owned by hedge funds and other institutional investors.
Trending Headlines about Ultragenyx Pharmaceutical
Here are the key news stories impacting Ultragenyx Pharmaceutical this week:
- Positive Sentiment: The UK medicines regulator has accepted Ultragenyx’s marketing application for rebi-vec (UX111), its gene therapy for Sanfilippo syndrome Type A, and is reviewing it. This is a step toward a possible UK authorization, but the therapy remains investigational and has not been approved. Company announcement
- Positive Sentiment: H.C. Wainwright and TD Cowen both reiterated Buy ratings, signaling that these analysts see potential despite recent price-target reductions. H.C. Wainwright rating TD Cowen rating
- Negative Sentiment: Several firms have lowered their price targets, reflecting more restrained expectations. Canaccord cut its target from $39 to $34, Citi reduced its target from $32 to $22, and Barclays lowered its target from $35 to $32; all retained Buy or Overweight ratings. The revisions may weigh on sentiment even as analysts remain positive on the shares. Canaccord target revision Citi target revision
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.
Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.
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