Ultragenyx Pharmaceutical (NASDAQ:RARE) Reaches New 52-Week Low – What’s Next?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $13.80 and last traded at $13.8410, with a volume of 880219 shares. The stock had previously closed at $14.30.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RARE shares. Jefferies Financial Group decreased their price objective on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Barclays reduced their price target on Ultragenyx Pharmaceutical from $43.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday, September 4th. Citigroup decreased their price target on Ultragenyx Pharmaceutical from $58.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Canaccord Genuity Group decreased their price target on Ultragenyx Pharmaceutical from $83.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $36.63.

Ultragenyx Pharmaceutical Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of -2.24 and a beta of 0.31. The stock has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $24.63.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.17) EPS. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RARE. BlackRock Inc. bought a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at $355,746,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth $6,397,000. Deutsche Bank AG bought a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at $5,503,000. Corient Private Wealth LP bought a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at $4,644,000. Finally, Blue Owl Capital Holdings LP acquired a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $6,098,000. 97.67% of the stock is owned by institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.