Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price boosted by equities researchers at Wells Fargo & Company from $75.00 to $88.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 102.44% from the stock’s current price.

Several other research firms have also issued reports on RARE. JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Canaccord Genuity Group reissued a “buy” rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. HC Wainwright raised their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Trading Up 1.2 %

Shares of RARE opened at $43.47 on Friday. The company’s fifty day simple moving average is $49.75 and its 200 day simple moving average is $49.23. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -6.72 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.23) EPS. As a group, research analysts forecast that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the sale, the chief executive officer now owns 2,195,712 shares of the company’s stock, valued at $109,785,600. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth $43,000. nVerses Capital LLC acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at about $33,000. UMB Bank n.a. lifted its position in Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the period. Values First Advisors Inc. acquired a new stake in Ultragenyx Pharmaceutical during the third quarter worth about $56,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Ultragenyx Pharmaceutical in the 3rd quarter valued at about $83,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.