Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $77.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a buy rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a report on Monday, March 18th. Wedbush reaffirmed a neutral rating and issued a $48.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Cantor Fitzgerald reiterated an overweight rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Finally, Robert W. Baird upped their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of Moderate Buy and an average target price of $88.08.

Ultragenyx Pharmaceutical Trading Down 1.8 %

Ultragenyx Pharmaceutical stock opened at $44.28 on Monday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -5.32 and a beta of 0.65. The company’s 50-day moving average price is $47.97 and its two-hundred day moving average price is $43.74. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.65) by $0.13. The company had revenue of $127.39 million during the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted ($2.16) EPS. Research analysts expect that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, Director Matthew K. Fust sold 12,195 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now owns 14,860 shares in the company, valued at $756,076.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the transaction, the director now owns 14,860 shares in the company, valued at approximately $756,076.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Insiders sold 32,116 shares of company stock worth $1,645,983 over the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently made changes to their positions in the business. DnB Asset Management AS grew its holdings in shares of Ultragenyx Pharmaceutical by 7.2% in the third quarter. DnB Asset Management AS now owns 12,674 shares of the biopharmaceutical company’s stock worth $452,000 after acquiring an additional 848 shares during the period. SG Americas Securities LLC grew its stake in Ultragenyx Pharmaceutical by 390.4% in the third quarter. SG Americas Securities LLC now owns 12,156 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 9,677 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Ultragenyx Pharmaceutical by 22.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 31,882 shares of the biopharmaceutical company’s stock valued at $1,137,000 after acquiring an additional 5,910 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 127.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,108 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 12,403 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ultragenyx Pharmaceutical by 19.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,136 shares of the biopharmaceutical company’s stock valued at $504,000 after buying an additional 2,292 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

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.