Ultragenyx Pharmaceutical (NASDAQ:RARE) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $15.84 and traded as high as $16.51. Ultragenyx Pharmaceutical shares last traded at $16.41, with a volume of 2,669,008 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on RARE. Bank of America cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research note on Thursday, September 3rd. Wedbush reduced their target price on Ultragenyx Pharmaceutical from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Morgan Stanley lifted their target price on Ultragenyx Pharmaceutical from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. UBS Group started coverage on Ultragenyx Pharmaceutical in a research report on Thursday, October 15th. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, TD Cowen increased their price target on Ultragenyx Pharmaceutical from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.79.

View Our Latest Research Report on Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Stock Performance

The business has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $22.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06). The firm had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $182.49 million. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted ($1.81) EPS. As a group, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.21 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Howard Horn sold 7,066 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total value of $107,897.82. Following the sale, the chief financial officer owned 89,229 shares of the company’s stock, valued at approximately $1,362,526.83. This represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,510 shares of company stock worth $127,561 in the last quarter. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares during the last quarter. Sterling Capital Management LLC increased its stake in Ultragenyx Pharmaceutical by 102.4% in the third quarter. Sterling Capital Management LLC now owns 2,475 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,252 shares during the period. Versant Capital Management Inc lifted its position in shares of Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 1,845 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $48,000. Institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

(Get Free Report)

Ultragenyx Pharmaceutical Inc. is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare genetic diseases. Founded in 2010 and headquartered in Novato, California, the company works on therapies for conditions with limited treatment options, including enzyme deficiencies and metabolic disorders. Its marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Mepsevii (vestronidase alfa), for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), for long-chain fatty acid oxidation disorders.

Further Reading