Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Up 7.2% – Here’s Why

by · The Markets Daily

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Free Report)’s share price rose 7.2% on Tuesday . The company traded as high as $45.89 and last traded at $45.75. Approximately 173,408 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,260,775 shares. The stock had previously closed at $42.66.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RARE. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.46.

Read Our Latest Stock Analysis on Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Price Performance

The company has a market cap of $4.03 billion, a PE ratio of -6.75 and a beta of 0.58. The business has a fifty day simple moving average of $46.58 and a two-hundred day simple moving average of $49.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the prior year, the business posted ($2.23) EPS. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the third quarter worth $43,000. Values First Advisors Inc. purchased a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth $56,000. Wilmington Savings Fund Society FSB acquired a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth about $83,000. Nomura Asset Management Co. Ltd. purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $93,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $107,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

(Get Free Report)

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.

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