Ultragenyx Pharmaceutical (NASDAQ:RARE) Earns “Outperform” Rating from Royal Bank of Canada

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $77.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 54.96% from the stock’s current price.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reiterated a “buy” rating and set a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Wedbush increased their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays decreased their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. TD Cowen increased their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, HC Wainwright increased their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.92.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $2.49 during mid-day trading on Wednesday, hitting $49.69. 554,211 shares of the stock traded hands, compared to its average volume of 776,684. The stock has a market cap of $4.58 billion, a P/E ratio of -6.81 and a beta of 0.58. The stock’s fifty day moving average is $55.47 and its two-hundred day moving average is $48.09. Ultragenyx Pharmaceutical has a 52-week low of $34.06 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the company posted ($2.23) earnings per share. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -6.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after purchasing an additional 26,575 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares during the last quarter. Federated Hermes Inc. lifted its stake in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after buying an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares during the last quarter. Hedge funds and other 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.