TD Cowen Boosts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $61.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price hoisted by analysts at TD Cowen from $59.00 to $61.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. TD Cowen’s target price indicates a potential upside of 37.42% from the company’s current price.

A number of other brokerages have also weighed in on RARE. Robert W. Baird lifted their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Finally, Royal Bank of Canada began coverage on Ultragenyx Pharmaceutical in a research note on Monday. They issued an “outperform” rating and a $77.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.08.

Ultragenyx Pharmaceutical Trading Down 1.6 %

Shares of NASDAQ RARE traded down $0.72 during midday trading on Wednesday, hitting $44.39. The company’s stock had a trading volume of 233,502 shares, compared to its average volume of 756,618. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.98. The firm has a market cap of $3.65 billion, a P/E ratio of -5.29 and a beta of 0.65. The business’s 50 day moving average is $47.97 and its two-hundred day moving average is $43.74.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. The company had revenue of $127.39 million during the quarter, compared to analysts’ expectations of $119.38 million. During the same period in the previous year, the company earned ($2.16) EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts predict that Ultragenyx Pharmaceutical will post -6.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 4,173 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the sale, the insider now owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ultragenyx Pharmaceutical news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction on Friday, March 1st. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the company’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 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. Over the last ninety days, insiders sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in shares of Ultragenyx Pharmaceutical by 392.1% in the third quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 596 shares during the period. UMB Bank n.a. boosted its holdings in Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 329 shares during the last quarter. GAMMA Investing LLC increased its stake in Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Ultragenyx Pharmaceutical by 97.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 903 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 34.0% in the fourth quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 400 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.