Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Up – Time to Buy?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price gapped up before the market opened on Monday . The stock had previously closed at $36.38, but opened at $39.00. Ultragenyx Pharmaceutical shares last traded at $37.3420, with a volume of 230,360 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on RARE. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $81.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Truist Financial reduced their target price on shares of Ultragenyx Pharmaceutical from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, September 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $105.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.23.

Ultragenyx Pharmaceutical Stock Performance

The firm has a market capitalization of $3.51 billion, a PE ratio of -6.12 and a beta of 0.16. The company has a fifty day moving average price of $32.89 and a 200-day moving average price of $32.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). The business had revenue of $159.93 million during the quarter, compared to analysts’ expectations of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 91.95% and a negative return on equity of 414.17%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the business posted ($1.40) earnings per share. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,942 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $31.51, for a total value of $250,252.42. Following the sale, the chief financial officer directly owned 98,227 shares in the company, valued at approximately $3,095,132.77. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $31.17, for a total value of $76,366.50. Following the sale, the executive vice president directly owned 73,271 shares of the company’s stock, valued at $2,283,857.07. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,456 shares of company stock worth $328,486 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in RARE. PNC Financial Services Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 231.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,737 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 1,911 shares during the last quarter. Deutsche Bank AG boosted its position in Ultragenyx Pharmaceutical by 0.5% in the 1st quarter. Deutsche Bank AG now owns 1,701,493 shares of the biopharmaceutical company’s stock valued at $61,611,000 after buying an additional 8,385 shares during the period. Headlands Technologies LLC purchased a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at about $59,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ultragenyx Pharmaceutical by 8.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,342 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 493 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ultragenyx Pharmaceutical by 66.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,901 shares of the biopharmaceutical company’s stock worth $1,626,000 after acquiring an additional 17,885 shares during the period. 97.67% of the stock is currently owned by institutional investors.

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.