Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $88.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective upped by Wells Fargo & Company from $75.00 to $88.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

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

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $44.22 on Friday. The company has a market cap of $4.08 billion, a P/E ratio of -6.83 and a beta of 0.56. The firm’s fifty day moving average price is $49.53 and its two-hundred day moving average price is $49.36. Ultragenyx Pharmaceutical has a one year low of $37.02 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business 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 quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.23) EPS. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,195,712 shares of the company’s stock, valued at $109,785,600. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly 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. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of the company. Alkeon Capital Management LLC increased its holdings in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after buying an additional 168,345 shares during the period. Millennium Management LLC raised its holdings in Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after buying an additional 109,567 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock worth $87,296,000 after buying an additional 65,623 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.