Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $35.00 at Barclays

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lifted by Barclays from $32.00 to $35.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also issued reports on RARE. HC Wainwright decreased their target price on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. The Goldman Sachs Group cut their price target on Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Evercore cut Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective for the company. in a research note on Thursday, September 3rd. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citigroup upped their target price on shares of Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Hold” and a consensus target price of $34.58.

Ultragenyx Pharmaceutical Stock Up 1.0%

Ultragenyx Pharmaceutical stock opened at $14.65 on Monday. The firm has a market cap of $1.44 billion, a PE ratio of -2.51 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52-week low of $12.73 and a 52-week high of $39.89. The company’s 50 day moving average is $23.51 and its two-hundred day moving average is $24.38.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping 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 quarter in the previous year, the firm posted ($1.17) earnings per share. The company’s quarterly revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RARE. BlackRock Inc. acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at $355,746,000. Assenagon Asset Management S.A. lifted its holdings in shares of Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after purchasing an additional 2,057,951 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 19.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock valued at $31,634,000 after purchasing an additional 225,238 shares during the last quarter. Norges Bank acquired a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $29,004,000. Finally, Bank of America Corp DE acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $38,347,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.