Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $50.00 at Wells Fargo & Company

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price hoisted by stock analysts at Wells Fargo & Company from $46.00 to $50.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 94.10% from the company’s current price.

Several other equities analysts have also issued reports on the company. Guggenheim decreased their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Wedbush dropped their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Royal Bank Of Canada lifted their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded down $0.50 during trading hours on Friday, hitting $25.76. 453,097 shares of the stock were exchanged, compared to its average volume of 2,212,398. The company has a market cap of $2.54 billion, a PE ratio of -4.41 and a beta of 0.35. The company’s fifty day simple moving average is $28.59 and its two-hundred day simple moving average is $25.03. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the business earned ($1.17) earnings per share. The company’s revenue was up 28.5% on a year-over-year basis. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 8,552 shares of company stock valued at $207,455. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $355,746,000. California State Teachers Retirement System boosted its position in Ultragenyx Pharmaceutical by 3,137.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock worth $113,129,000 after buying an additional 3,283,467 shares during the period. Assenagon Asset Management S.A. boosted its position in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after acquiring an additional 1,864,164 shares during the last quarter. Finally, Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth approximately $29,004,000. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.