Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $109.00 at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price reduced by analysts at Canaccord Genuity Group from $111.00 to $109.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 154.02% from the company’s previous close.

RARE has been the topic of a number of other research reports. Royal Bank of Canada initiated coverage on Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price target on the stock. Robert W. Baird increased their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. TD Cowen increased their price target on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush dropped their price target on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.85.

Ultragenyx Pharmaceutical Stock Up 0.4 %

Shares of NASDAQ RARE traded up $0.16 during trading hours on Monday, hitting $42.91. The company had a trading volume of 524,266 shares, compared to its average volume of 764,703. The stock has a market capitalization of $3.57 billion, a P/E ratio of -5.35 and a beta of 0.68. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $54.98. The firm’s 50 day moving average is $47.25 and its 200-day moving average is $44.22.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The company had revenue of $108.83 million during the quarter, compared to analyst estimates of $116.03 million. During the same period in the previous year, the company posted ($2.33) EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the transaction, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the completion of the transaction, the insider now owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock valued at $1,645,983 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RARE. SG Americas Securities LLC grew its position in Ultragenyx Pharmaceutical by 390.4% in the third quarter. SG Americas Securities LLC now owns 12,156 shares of the biopharmaceutical company’s stock valued at $433,000 after acquiring an additional 9,677 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 127.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,108 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 12,403 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ultragenyx Pharmaceutical by 19.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,136 shares of the biopharmaceutical company’s stock worth $504,000 after purchasing an additional 2,292 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ultragenyx Pharmaceutical by 9.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 210,968 shares of the biopharmaceutical company’s stock worth $7,521,000 after purchasing an additional 18,845 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 74.4% during the third quarter. TD Asset Management Inc now owns 205,360 shares of the biopharmaceutical company’s stock worth $7,321,000 after purchasing an additional 87,580 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

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.