Ultragenyx Pharmaceutical (RARE) Stock Rating Upgraded by Citigroup

Ultragenyx Pharmaceutical (NASDAQ:RARE) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a $54.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $46.00. Citigroup’s price objective would indicate a potential upside of 3.37% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently commented on RARE. SunTrust Banks boosted their price objective on Ultragenyx Pharmaceutical to $83.00 and gave the stock a “positive” rating in a research note on Monday, August 20th. Bank of America boosted their price objective on Ultragenyx Pharmaceutical from $72.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Barclays reaffirmed an “overweight” rating and set a $92.00 target price (up from $74.00) on shares of Ultragenyx Pharmaceutical in a research report on Friday, August 3rd. Morgan Stanley set a $70.00 target price on Ultragenyx Pharmaceutical and gave the stock a “hold” rating in a research report on Monday, October 29th. Finally, Piper Jaffray Companies dropped their target price on Ultragenyx Pharmaceutical to $70.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $75.95.

Shares of RARE opened at $52.24 on Thursday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -6.97 and a beta of 2.34. Ultragenyx Pharmaceutical has a 12 month low of $41.67 and a 12 month high of $90.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($1.74) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.94) by $0.20. The company had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.97 million. Ultragenyx Pharmaceutical had a negative return on equity of 41.08% and a negative net margin of 508.70%. The firm’s quarterly revenue was up 5800.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.87) earnings per share. Sell-side analysts expect that Ultragenyx Pharmaceutical will post -4.09 EPS for the current year.

In related news, EVP Karah Herdman Parschauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $78.53, for a total value of $392,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Aliski sold 19,550 shares of the business’s stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $72.49, for a total value of $1,417,179.50. Following the completion of the sale, the director now directly owns 72,610 shares of the company’s stock, valued at $5,263,498.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,250 shares of company stock worth $2,747,319. Corporate insiders own 8.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in RARE. Advisors Asset Management Inc. bought a new stake in Ultragenyx Pharmaceutical in the second quarter valued at about $181,000. Janney Montgomery Scott LLC bought a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $313,000. Xact Kapitalforvaltning AB grew its holdings in shares of Ultragenyx Pharmaceutical by 49.7% during the first quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock valued at $338,000 after purchasing an additional 2,200 shares during the last quarter. JBF Capital Inc. bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at approximately $384,000. Finally, Strs Ohio grew its holdings in shares of Ultragenyx Pharmaceutical by 358.3% during the second quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock valued at $422,000 after purchasing an additional 4,300 shares during the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.

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Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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