HC Wainwright Reaffirms “Buy” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

HC Wainwright reissued their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Friday morning,Benzinga reports. They currently have a $95.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on the company. Piper Sandler boosted their price target on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.43.

Ultragenyx Pharmaceutical Stock Down 2.4 %

Ultragenyx Pharmaceutical stock opened at $42.49 on Friday. The stock’s 50 day simple moving average is $43.60 and its two-hundred day simple moving average is $49.53. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Sell-side analysts forecast that Ultragenyx Pharmaceutical will post -6.12 earnings per share for the current year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 8,273 shares of the stock in a transaction on Tuesday, December 10th. The stock was 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 in the company, valued at approximately $109,785,600. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Algert Global LLC grew its position in shares of Ultragenyx Pharmaceutical by 46.9% during the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after purchasing an additional 23,580 shares in the last quarter. Bamco Inc. NY purchased a new position in Ultragenyx Pharmaceutical in the third quarter worth about $2,666,000. Principal Financial Group Inc. grew its position in Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares in the last quarter. Cerity Partners LLC purchased a new position in Ultragenyx Pharmaceutical in the third quarter worth about $1,773,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 294 shares in the last quarter. Hedge funds and other institutional investors 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.