Canaccord Genuity Group Forecasts Strong Price Appreciation for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective raised by Canaccord Genuity Group from $121.00 to $136.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on RARE. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. TD Cowen increased their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a report on Monday, October 21st. HC Wainwright reaffirmed a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Ultragenyx Pharmaceutical Stock Performance

RARE stock opened at $44.48 on Tuesday. The firm has a fifty day moving average price of $43.21 and a 200 day moving average price of $49.47. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The firm has a market cap of $4.11 billion, a PE ratio of -7.02 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The business had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 185.70% and a negative net margin of 101.60%. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -5.18 EPS for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the period. True Wealth Design LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $43,000. Aster Capital Management DIFC Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $35,000. Human Investing LLC purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $42,000. Finally, Values First Advisors Inc. bought a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.