Canaccord Genuity Group Reiterates “Buy” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Canaccord Genuity Group reissued their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note published on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a $111.00 target price on the biopharmaceutical company’s stock.

RARE has been the subject of a number of other reports. Robert W. Baird lifted their price target on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an outperform rating in a research report on Friday, May 31st. TD Cowen lifted their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Bank of America dropped their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a buy rating for the company in a research note on Friday, May 31st. Cantor Fitzgerald reissued an overweight rating and set a $115.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Monday, July 22nd. Finally, Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They set an outperform rating and a $77.00 price objective for the company. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $86.50.

Ultragenyx Pharmaceutical Stock Down 0.4 %

Shares of NASDAQ:RARE opened at $44.86 on Tuesday. The company has a market cap of $3.73 billion, a P/E ratio of -5.59 and a beta of 0.56. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.56. The company has a 50-day moving average price of $41.41 and a 200 day moving average price of $44.53.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. The firm had revenue of $108.83 million during the quarter, compared to analyst estimates of $116.03 million. During the same quarter in the previous year, the business earned ($2.33) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Ultragenyx Pharmaceutical will post -6.45 EPS for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 9,806 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Karah Herdman Parschauer sold 9,806 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,127 shares of company stock worth $536,593. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in RARE. Headlands Technologies LLC acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter worth $28,000. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 329 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 3,182.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.