Ultragenyx Pharmaceutical (NASDAQ:RARE) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $77.00 target price on the biopharmaceutical company’s stock.

RARE has been the topic of a number of other research reports. Wedbush reaffirmed a neutral rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, April 16th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $107.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, April 5th. Robert W. Baird boosted their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a research report on Tuesday, January 30th. Canaccord Genuity Group upped their price target on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an overweight rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $88.08.

Ultragenyx Pharmaceutical Stock Down 1.0 %

Shares of Ultragenyx Pharmaceutical stock opened at $43.85 on Monday. The firm has a market cap of $3.61 billion, a PE ratio of -5.26 and a beta of 0.65. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $54.98. The business’s fifty day moving average is $47.94 and its two-hundred day moving average is $43.75.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.13. The firm had revenue of $127.39 million for the quarter, compared to analyst estimates of $119.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned ($2.16) EPS. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.36 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The disclosure for this sale can be found here. In the last three months, insiders sold 32,116 shares of company stock valued at $1,645,983. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently added to or reduced their stakes in the company. Sands Capital Management LLC increased its stake in 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 purchasing an additional 1,540,791 shares during the last quarter. RTW Investments LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after buying an additional 1,481,997 shares during the period. Vanguard Group Inc. grew its position in shares of Ultragenyx Pharmaceutical by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after buying an additional 1,440,264 shares during the last quarter. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter worth about $36,846,000. Finally, Federated Hermes Inc. lifted its holdings in Ultragenyx Pharmaceutical by 23.6% in the third quarter. Federated Hermes Inc. now owns 2,196,500 shares of the biopharmaceutical company’s stock worth $78,305,000 after acquiring an additional 419,900 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.

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.