Ultragenyx Pharmaceutical (NASDAQ:RARE) Rating Reiterated by Royal Bank of Canada

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They presently have a $77.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 35.37% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America cut their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Wedbush increased their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus increased their target price on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Price Performance

RARE traded up $0.12 during trading on Thursday, hitting $56.88. 4,769 shares of the stock traded hands, compared to its average volume of 783,399. The firm has a market capitalization of $5.24 billion, a P/E ratio of -7.08 and a beta of 0.56. The firm has a 50-day moving average of $52.79 and a 200 day moving average of $46.59. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. During the same quarter in the prior year, the business earned ($2.25) EPS. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. As a group, equities analysts predict that Ultragenyx Pharmaceutical will post -6.24 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 40,675 shares of company stock worth $2,149,446 over the last quarter. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $36,846,000. Franklin Resources Inc. raised its position in Ultragenyx Pharmaceutical by 13.3% during the 4th quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after purchasing an additional 25,144 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Ultragenyx Pharmaceutical by 7.8% in the 4th quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock worth $10,585,000 after buying an additional 16,000 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Ultragenyx Pharmaceutical by 17.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 34,853 shares of the biopharmaceutical company’s stock worth $1,667,000 after buying an additional 5,150 shares during the period. Finally, Sands Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 59.8% during the fourth quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after buying an additional 1,540,791 shares during the period. 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.