HC Wainwright Reiterates Buy Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $95.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 117.14% from the stock’s previous close.

RARE has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $43.75 on Tuesday. The business’s 50-day simple moving average is $49.02 and its 200-day simple moving average is $49.39. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The stock has a market capitalization of $4.04 billion, a PE ratio of -6.76 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the firm posted ($2.23) earnings per share. The business’s revenue was up 42.3% on a year-over-year basis. On average, research analysts expect that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current year.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 7.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 24.7% during the second quarter. Peregrine Capital Management LLC now owns 148,813 shares of the biopharmaceutical company’s stock worth $6,116,000 after acquiring an additional 29,474 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Ultragenyx Pharmaceutical by 63.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock valued at $34,128,000 after purchasing an additional 323,280 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 34.9% during the second quarter. Pinnacle Associates Ltd. now owns 161,020 shares of the biopharmaceutical company’s stock worth $6,618,000 after purchasing an additional 41,633 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $33,000. 97.67% of the stock is 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.