Ultragenyx Pharmaceutical (RARE) Price Target Raised to $57.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target increased by Raymond James from $53.00 to $57.00 in a research report sent to investors on Tuesday. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently weighed in on RARE. SunTrust Banks upped their target price on Ultragenyx Pharmaceutical to $83.00 and gave the company a positive rating in a research report on Monday, August 20th. Bank of America boosted their price target on Ultragenyx Pharmaceutical from $72.00 to $94.00 and gave the stock a buy rating in a report on Tuesday, September 11th. Barclays reissued an overweight rating and set a $92.00 price target (up previously from $74.00) on shares of Ultragenyx Pharmaceutical in a report on Friday, August 3rd. Morgan Stanley set a $70.00 price target on Ultragenyx Pharmaceutical and gave the stock a hold rating in a report on Monday, October 29th. Finally, Piper Jaffray Companies lowered their price target on Ultragenyx Pharmaceutical to $70.00 and set an overweight rating for the company in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $75.95.

Shares of NASDAQ RARE traded down $2.19 during midday trading on Tuesday, hitting $52.50. 12,309 shares of the company’s stock were exchanged, compared to its average volume of 707,030. Ultragenyx Pharmaceutical has a 12 month low of $41.67 and a 12 month high of $90.98. The company has a market capitalization of $2.73 billion, a P/E ratio of -6.99 and a beta of 2.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.94) by $0.20. The business had revenue of $11.80 million during the quarter, compared to the consensus estimate of $11.97 million. Ultragenyx Pharmaceutical had a negative return on equity of 41.08% and a negative net margin of 508.70%. The firm’s quarterly revenue was up 5800.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.87) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -4.09 EPS for the current fiscal year.

In other news, CFO Shalini Sharp sold 6,700 shares of the stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $90.07, for a total value of $603,469.00. Following the completion of the sale, the chief financial officer now owns 56,828 shares of the company’s stock, valued at $5,118,497.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Aliski sold 6,000 shares of the stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $55.67, for a total value of $334,020.00. Following the completion of the sale, the director now directly owns 72,610 shares of the company’s stock, valued at approximately $4,042,198.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,250 shares of company stock valued at $2,747,319. Insiders own 8.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Swiss National Bank increased its stake in shares of Ultragenyx Pharmaceutical by 5.7% in the second quarter. Swiss National Bank now owns 82,052 shares of the biopharmaceutical company’s stock valued at $6,307,000 after buying an additional 4,400 shares during the period. Amalgamated Bank boosted its position in shares of Ultragenyx Pharmaceutical by 20.8% during the 2nd quarter. Amalgamated Bank now owns 7,176 shares of the biopharmaceutical company’s stock valued at $552,000 after purchasing an additional 1,236 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Ultragenyx Pharmaceutical by 7.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,187 shares of the biopharmaceutical company’s stock valued at $1,167,000 after purchasing an additional 1,037 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 52.4% during the 2nd quarter. American Century Companies Inc. now owns 55,975 shares of the biopharmaceutical company’s stock valued at $4,303,000 after purchasing an additional 19,255 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $181,000. 96.78% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.

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Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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