Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) had its price target dropped by investment analysts at Morgan Stanley from $100.00 to $95.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price suggests a potential upside of 107.74% from the company's current price.
Several other research firms have also recently commented on RARE. Credit Suisse Group lowered their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $96.00 and set an "outperform" rating on the stock in a report on Thursday, November 3rd. Wedbush restated a "neutral" rating on shares of Ultragenyx Pharmaceutical in a report on Thursday, October 13th. StockNews.com upgraded shares of Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a report on Monday, January 30th. Cowen lowered their price target on shares of Ultragenyx Pharmaceutical from $86.00 to $65.00 in a report on Thursday, November 3rd. Finally, SVB Leerink lowered their price target on shares of Ultragenyx Pharmaceutical from $115.00 to $108.00 and set an "outperform" rating on the stock in a report on Thursday, November 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $91.69.
Get Ultragenyx Pharmaceutical alerts:Ultragenyx Pharmaceutical Stock Down 3.4 %
Shares of NASDAQ:RARE opened at $45.73 on Friday. The company's fifty day moving average is $43.04 and its two-hundred day moving average is $43.60. Ultragenyx Pharmaceutical has a 12-month low of $33.36 and a 12-month high of $85.53. The company has a market cap of $3.21 billion, a P/E ratio of -4.70 and a beta of 0.96.
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last announced its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($2.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.29) by ($0.14). Ultragenyx Pharmaceutical had a negative net margin of 197.47% and a negative return on equity of 84.14%. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $98.76 million. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -8.84 earnings per share for the current year.Insider Activity
In related news, CAO Theodore Alan Huizenga sold 2,031 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $43.96, for a total value of $89,282.76. Following the completion of the transaction, the chief accounting officer now owns 16,197 shares of the company's stock, valued at $712,020.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in RARE. Signaturefd LLC raised its position in Ultragenyx Pharmaceutical by 151.0% in the third quarter. Signaturefd LLC now owns 600 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 361 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Ultragenyx Pharmaceutical in the third quarter worth about $27,000. High Net Worth Advisory Group LLC grew its stake in Ultragenyx Pharmaceutical by 650.0% during the third quarter. High Net Worth Advisory Group LLC now owns 1,500 shares of the biopharmaceutical company's stock worth $62,000 after buying an additional 1,300 shares during the last quarter. Lazard Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 36.6% during the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company's stock worth $64,000 after buying an additional 240 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Ultragenyx Pharmaceutical by 26.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,264 shares of the biopharmaceutical company's stock worth $105,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company's stock.
Ultragenyx Pharmaceutical Company Profile
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Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, engaged in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its products include Mepsevii and Crysvita. Mepsevii is an intravenous enzyme replacement therapy, which is used for the treatment of Mucopolysaccharidosis VII.
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